Fidelity Freedom Correlations

FIKFX Fund

USD 12.20 0.01 0.08%

The current 90-days correlation between Fidelity Freedom Index and Fidelity Freedom Index is 0.91 (i.e., Almost no 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 weak diversification

The correlation between Fidelity Freedom Index and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom Index 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 Index. 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 census.

Moving together with Fidelity Mutual Fund

0.99	VTINX	Vanguard Target Reti	Pair Corr
0.99	LIRIX	Blackrock Lifepath Idx	Pair Corr
0.99	LIRAX	Blackrock Lfpth Idx	Pair Corr
0.98	JSIIX	Jpmorgan Smartretirement	Pair Corr
0.98	JSIZX	Jpmorgan Smartretirement	Pair Corr
0.98	JSIPX	Jpmorgan Smartretirement	Pair Corr
0.98	JSIQX	Jpmorgan Smartretirement	Pair Corr
1.0	FNSHX	Fidelity Freedom Income	Pair Corr
0.9	PSHAX	Short Term Fund	Pair Corr
0.63	CVX	Chevron Corp	Pair Corr

Moving against Fidelity Mutual Fund

0.63	MCD	McDonalds	Pair Corr
0.46	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	FPIFX	FLIFX	FKIFX	FQIFX	FXIFX
FPIFX		1.0	0.99	1.0	1.0	FPIFX
FLIFX	1.0		1.0	1.0	0.99	FLIFX
FKIFX	0.99	1.0		0.99	0.98	FKIFX
FQIFX	1.0	1.0	0.99		1.0	FQIFX
FXIFX	1.0	0.99	0.98	1.0		FXIFX
	FPIFX	FLIFX	FKIFX	FQIFX	FXIFX

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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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FPIFX	0.23	0.05	(0.27)	0.41	(0.28)	0.54	(0.43)	1.72
FLIFX	0.20	0.04	(0.35)	0.42	(0.24)	0.47	(0.40)	1.43
FKIFX	0.17	0.03	(0.48)	0.44	(0.22)	0.38	(0.30)	1.14
FQIFX	0.26	0.06	(0.20)	0.41	(0.31)	0.64	(0.50)	1.90
FXIFX	0.28	0.06	(0.16)	0.41	(0.33)	0.79	(0.48)	2.22

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