Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FASIX Fund  USD 13.64  0.01  0.07%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Asset Manager is 0.03 (i.e., Significant diversification). The correlation of Fidelity Asset is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Fidelity Asset Correlation With Market

Very poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Asset Manager and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Asset Manager. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with FIDELITY Mutual Fund

  0.98FPTKX Fidelity Freedom 2015PairCorr
  0.82FPURX Fidelity PuritanPairCorr
  0.82FPUKX Fidelity PuritanPairCorr
  0.69FPXTX Fidelity PennsylvaniaPairCorr
  0.98FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.74FQITX Fidelity Salem StreetPairCorr
  0.94FQLSX Fidelity Flex FreedomPairCorr
  0.89FRBDX Fidelity Freedom 2070PairCorr
  0.89FRBEX Fidelity Freedom 2070PairCorr
  0.9FRBHX Fidelity Freedom 2070PairCorr
  0.9FRBJX Fidelity Advisor FreedomPairCorr
  0.9FRBLX Fidelity Advisor FreedomPairCorr
  0.9FRBOX Fidelity Advisor FreedomPairCorr
  0.9FRBPX Fidelity Advisor FreedomPairCorr
  0.9FRBQX Fidelity Flex FreedomPairCorr
  0.9FRBUX Fidelity Freedom IndexPairCorr
  0.9FRBVX Fidelity Freedom IndexPairCorr
  0.84FRBWX Fidelity Freedom IndexPairCorr
  0.9FRBYX Fidelity Freedom BlendPairCorr
  0.94FRBZX Fidelity Freedom BlendPairCorr
  0.93FRAGX Aggressive GrowthPairCorr
  0.93FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.89FRCFX Fidelity Freedom BlendPairCorr
  0.9FRCHX Fidelity Freedom BlendPairCorr
  0.89FRCKX Fidelity Freedom BlendPairCorr
  0.89FRCLX Fidelity Freedom BlendPairCorr
  0.89FRCNX Fidelity Freedom BlendPairCorr
  0.9FRCPX Fidelity Freedom BlendPairCorr
  0.89FRCQX Fidelity SustainablePairCorr
  0.89FRCRX Fidelity SustainablePairCorr
  0.94FRCVX Fidelity SustainablePairCorr
  0.89FRCWX Fidelity SustainablePairCorr
  0.89FRCYX Fidelity SustainablePairCorr
  0.89FRDDX Fidelity SustainablePairCorr
  0.89FRDEX Fidelity SustainablePairCorr
  0.94FRGAX Growth Allocation IndexPairCorr
  0.93FRESX Fidelity Real EstatePairCorr
  0.85FRIFX Fidelity Real EstatePairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FAMRX
+ 1.0
FASGX
FDSSX
+ 0.94
FASMX
FASMX
+ 0.92
FASGX
FAMRX
+ 0.92
FASMX
FDSSX
+ 0.9
FAMRX
FDSSX
+ 0.89
FASGX
  
High negative correlations   
FDSSX
- 0.65
FGOVX
FGOVX
- 0.44
FAMRX
FGOVX
- 0.44
FASMX
FGOVX
- 0.42
FASGX

Risk-Adjusted Indicators

There is a big difference between FIDELITY Mutual Fund performing well and Fidelity Asset Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Fidelity Asset's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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