Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2040
FHTKX Fund  USD 12.70  0.04  0.32%   
The current 90-days correlation between Fidelity Freedom 2040 and Franklin Natural Resources is 0.42 (i.e., Very weak 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

Good diversification

The correlation between Fidelity Freedom 2040 and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2040 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 2040. 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 board of governors.

Moving together with Fidelity Mutual Fund

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.98FPURX Fidelity PuritanPairCorr
  0.98FPUKX Fidelity PuritanPairCorr
  0.97FQIFX Fidelity Freedom IndexPairCorr
  0.98FQIPX Fidelity Freedom IndexPairCorr
  0.98FQLSX Fidelity Flex FreedomPairCorr
  1.0FRBDX Fidelity Freedom 2070PairCorr
  1.0FRBEX Fidelity Freedom 2070PairCorr
  1.0FRBHX Fidelity Freedom 2070PairCorr
  1.0FRBJX Fidelity Advisor FreedomPairCorr
  0.98FRBKX Fidelity Advisor FreedomPairCorr
  0.98FRBLX Fidelity Advisor FreedomPairCorr
  1.0FRBOX Fidelity Advisor FreedomPairCorr
  1.0FRBPX Fidelity Advisor FreedomPairCorr
  0.98FRBQX Fidelity Flex FreedomPairCorr
  0.98FRBUX Fidelity Freedom IndexPairCorr
  0.98FRBVX Fidelity Freedom IndexPairCorr
  0.98FRBWX Fidelity Freedom IndexPairCorr
  1.0FRBYX Fidelity Freedom BlendPairCorr
  1.0FRBZX Fidelity Freedom BlendPairCorr
  0.98FRAGX Aggressive GrowthPairCorr
  0.97FRAMX Fidelity Income ReplPairCorr
  0.99FRASX Fidelity Income ReplPairCorr
  0.98FRCFX Fidelity Freedom BlendPairCorr
  1.0FRCHX Fidelity Freedom BlendPairCorr
  0.98FRCKX Fidelity Freedom BlendPairCorr
  1.0FRCLX Fidelity Freedom BlendPairCorr
  1.0FRCNX Fidelity Freedom BlendPairCorr
  0.98FRCPX Fidelity Freedom BlendPairCorr
  0.98FRCQX Fidelity SustainablePairCorr
  0.98FRCRX Fidelity SustainablePairCorr
  0.98FRCVX Fidelity SustainablePairCorr
  1.0FRCWX Fidelity SustainablePairCorr
  0.98FRCYX Fidelity SustainablePairCorr
  0.98FRDCX Fidelity SustainablePairCorr
  0.98FRDDX Fidelity SustainablePairCorr
  1.0FRDEX Fidelity SustainablePairCorr
  1.0FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


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.

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