Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2040
FHTKX Fund  USD 13.52  0.03  0.22%   
The current 90-days correlation between Fidelity Freedom 2040 and Enhanced Fixed Income is 0.02 (i.e., Significant 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

Very poor diversification

The correlation between Fidelity Freedom 2040 and DJI is 0.81 (i.e., Very poor 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

  0.99FPTKX Fidelity Freedom 2015PairCorr
  0.89FPURX Fidelity PuritanPairCorr
  0.88FPUKX Fidelity PuritanPairCorr
  0.94FPXTX Fidelity PennsylvaniaPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.73FQITX Fidelity Salem StreetPairCorr
  1.0FQLSX Fidelity Flex FreedomPairCorr
  0.95FRBDX Fidelity Freedom 2070PairCorr
  0.95FRBEX Fidelity Freedom 2070PairCorr
  0.92FRBHX Fidelity Freedom 2070PairCorr
  0.95FRBJX Fidelity Advisor FreedomPairCorr
  0.95FRBKX Fidelity Advisor FreedomPairCorr
  0.94FRBLX Fidelity Advisor FreedomPairCorr
  1.0FRBOX Fidelity Advisor FreedomPairCorr
  1.0FRBPX Fidelity Advisor FreedomPairCorr
  0.92FRBQX Fidelity Flex FreedomPairCorr
  0.92FRBUX Fidelity Freedom IndexPairCorr
  0.88FRBVX Fidelity Freedom IndexPairCorr
  0.93FRBWX Fidelity Freedom IndexPairCorr
  0.81FRBYX Fidelity Freedom BlendPairCorr
  0.95FRBZX Fidelity Freedom BlendPairCorr
  1.0FRAGX Aggressive GrowthPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.92FRCFX Fidelity Freedom BlendPairCorr
  0.89FRCHX Fidelity Freedom BlendPairCorr
  0.9FRCKX Fidelity Freedom BlendPairCorr
  0.91FRCLX Fidelity Freedom BlendPairCorr
  0.78FRCNX Fidelity Freedom BlendPairCorr
  0.88FRCPX Fidelity Freedom BlendPairCorr
  0.87FRCQX Fidelity SustainablePairCorr
  0.92FRCRX Fidelity SustainablePairCorr
  0.92FRCVX Fidelity SustainablePairCorr
  0.81FRCWX Fidelity SustainablePairCorr
  0.87FRCYX Fidelity SustainablePairCorr
  0.95FRDCX Fidelity SustainablePairCorr
  0.95FRDDX Fidelity SustainablePairCorr
  0.87FRDEX Fidelity SustainablePairCorr
  0.96FRGAX 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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