Fidelity Freedom Correlations

FHAPX Fund

USD 14.90 0.08 0.53%

The current 90-days correlation between Fidelity Freedom Blend and Ab Municipal Bond is 0.25 (i.e., Modest diversification). The correlation of Fidelity Freedom 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 Freedom Correlation With Market

Average diversification

The correlation between Fidelity Freedom Blend and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom Blend 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 Freedom Blend. 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 metropolitan statistical area.

Moving together with Fidelity Mutual Fund

0.88	FPTKX	Fidelity Freedom 2015	Pair Corr
0.76	FPURX	Fidelity Puritan	Pair Corr
0.7	FPXTX	Fidelity Pennsylvania	Pair Corr
0.74	FQLSX	Fidelity Flex Freedom	Pair Corr
0.77	FRBHX	Fidelity Freedom 2070	Pair Corr
0.76	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.79	FRBUX	Fidelity Freedom Index	Pair Corr
0.77	FRBVX	Fidelity Freedom Index	Pair Corr
0.77	FRBWX	Fidelity Freedom Index	Pair Corr
0.7	FRAMX	Fidelity Income Repl	Pair Corr
0.74	FRCNX	Fidelity Freedom Blend	Pair Corr
0.83	FSAWX	Fidelity Sai Convertible	Pair Corr
0.8	FSELX	Fidelity Select Semi	Pair Corr
0.73	FASIX	Fidelity Asset Manager	Pair Corr
0.68	FSJPX	Fidelity Sai Japan	Pair Corr
0.77	FAVWX	Fidelity Freedom Index	Pair Corr
0.77	FAVPX	Fidelity Freedom Index	Pair Corr
0.78	FAXEX	Fidelity Freedom Blend	Pair Corr
0.76	FAZAX	Fidelity Advisor Freedom	Pair Corr
0.68	FSPSX	Fidelity International	Pair Corr
0.82	FSPTX	Technology Portfolio	Pair Corr
0.77	FSNZX	Fidelity Freedom 2045	Pair Corr
0.71	FTAWX	Fidelity Asset Manager	Pair Corr
0.71	FTDWX	Fidelity Asset Manager	Pair Corr
0.72	FTCWX	Fidelity Asset Manager	Pair Corr
0.7	FTIWX	Fidelity Asset Manager	Pair Corr

Moving against Fidelity Mutual Fund

0.38

FSRBX

Banking Portfolio Banking

Pair Corr

Related Correlations Analysis

	AUNOX	AUNYX	FLIBX	HIPFX	LIPNX	AUNCX	AUNTX
AUNOX		1.0	0.58	0.78	0.63	0.99	0.98	AUNOX
AUNYX	1.0		0.58	0.78	0.63	0.99	0.98	AUNYX
FLIBX	0.58	0.58		0.91	0.98	0.57	0.66	FLIBX
HIPFX	0.78	0.78	0.91		0.93	0.75	0.82	HIPFX
LIPNX	0.63	0.63	0.98	0.93		0.61	0.7	LIPNX
AUNCX	0.99	0.99	0.57	0.75	0.61		0.98	AUNCX
AUNTX	0.98	0.98	0.66	0.82	0.7	0.98		AUNTX
	AUNOX	AUNYX	FLIBX	HIPFX	LIPNX	AUNCX	AUNTX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Freedom 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 Freedom'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AUNOX	0.09	0.02	(0.27)	2.35	0.00	(0.15)	0.28	(0.09)	0.56
AUNYX	0.09	0.02	(0.27)	1.05	0.00	(0.16)	0.28	(0.09)	0.56
FLIBX	0.13	0.00	(0.23)	0.08	0.11	(0.18)	0.21	(0.21)	0.92
HIPFX	0.11	(0.01)	(0.32)	(0.12)	0.09	(0.14)	0.19	(0.19)	0.56
LIPNX	0.16	0.00	(0.20)	0.04	0.16	(0.18)	0.31	(0.21)	0.92
AUNCX	0.08	0.01	(0.31)	0.66	0.00	(0.15)	0.28	(0.09)	0.56
AUNTX	0.09	0.02	(0.27)	0.90	0.00	(0.15)	0.19	(0.09)	0.56

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