Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2010
FOTKX Fund  USD 14.76  0.05  0.34%   
The current 90-days correlation between Fidelity Freedom 2010 and Wmcanx is 0.73 (i.e., Poor 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

Poor diversification

The correlation between Fidelity Freedom 2010 and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2010 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 2010. 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

  1.0FPTKX Fidelity Freedom 2015PairCorr
  0.98FQIPX Fidelity Freedom IndexPairCorr
  0.95FAGKX Fidelity Growth StraPairCorr
  0.98FAGIX Fidelity Capital IncomePairCorr
  0.99FSAAX Fidelity Asset ManagerPairCorr
  0.89FSAWX Fidelity Sai ConvertiblePairCorr
  0.71FANIX Fidelity Advisor EnergyPairCorr
  0.97FSCOX Fidelity InternationalPairCorr
  0.78FSCSX Software And ItPairCorr
  0.95FSDAX Defense And AerospacePairCorr
  0.97FSEQX Fidelity Advisor SusPairCorr
  0.98FSIAX Fidelity Advisor StrPairCorr
  0.98FAYZX Fidelity Advisor MultiPairCorr
  0.97FSPGX Fidelity Large CapPairCorr
  0.84FSPSX Fidelity InternationalPairCorr
  0.8FSRPX Retailing PortfolioPairCorr
  0.98FSTFX Fidelity Limited TermPairCorr
  0.84FSSMX Fidelity Advisor StockPairCorr
  0.92FSSNX Fidelity Small CapPairCorr
  0.98FBCGX Fidelity Blue ChipPairCorr
  0.95FSUVX Fidelity Sai MinimumPairCorr
  0.64FTABX Fidelity Tax FreePairCorr
  0.91FBTIX Fidelity Advisor BioPairCorr
  0.87FTUIX TelecommunicationsPairCorr
  0.98FTYPX Fidelity Freedom IndexPairCorr
  0.97FCLKX Fidelity Large CapPairCorr
  0.95FUEMX Fidelity Flex ServativePairCorr
  0.8FCPVX Fidelity Small CapPairCorr
  0.66FCTFX Fidelity CaliforniaPairCorr
  0.97FCTDX Strategic AdvisersPairCorr
  0.85FUGAX Fidelity Advisor UtiPairCorr
  0.97FCSTX Fidelity CaliforniaPairCorr

Moving against Fidelity Mutual Fund

  0.81FSHCX Health Care ServicesPairCorr

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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