Fidelity Freedom Correlations

FRCHX Fund

11.86 0.09 0.76%

The current 90-days correlation between Fidelity Freedom Blend and Georgia Tax Free Bond is 0.07 (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

Poor diversification

The correlation between Fidelity Freedom Blend and DJI is 0.77 (i.e., Poor 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 various price indices.

Moving together with Fidelity Mutual Fund

0.99	VLXVX	Vanguard Target Reti	Pair Corr
0.99	FBMTX	American Funds 2065	Pair Corr
0.99	RCPTX	American Funds 2065	Pair Corr
0.99	FAXTX	American Funds 2065	Pair Corr
0.99	RBEOX	American Funds 2065	Pair Corr
0.99	AAOTX	American Funds 2065	Pair Corr
0.99	RDLTX	American Funds 2065	Pair Corr
0.99	RHLTX	American Funds 2065	Pair Corr
0.99	RFVTX	American Funds 2065	Pair Corr
0.99	RBOTX	American Funds 2065	Pair Corr
0.99	VTSAX	Vanguard Total Stock	Pair Corr
0.97	VFIAX	Vanguard 500 Index	Pair Corr
0.98	VTSMX	Vanguard Total Stock	Pair Corr
0.99	VSMPX	Vanguard Total Stock	Pair Corr
0.99	VSTSX	Vanguard Total Stock	Pair Corr
0.98	VITSX	Vanguard Total Stock	Pair Corr
0.97	VFINX	Vanguard 500 Index	Pair Corr
0.98	VFFSX	Vanguard 500 Index	Pair Corr
0.98	VGTSX	Vanguard Total Inter	Pair Corr
0.98	VTIAX	Vanguard Total Inter	Pair Corr
0.81	GPICX	Guidepath Conservative	Pair Corr
0.91	FPXIX	Fidelity Advisor 529	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.82	IBM	International Business	Pair Corr
0.66	AXP	American Express	Pair Corr
0.92	GE	GE Aerospace	Pair Corr

Moving against Fidelity Mutual Fund

0.7	T	ATT Inc	Pair Corr
0.68	VZ	Verizon Communications	Pair Corr
0.59	PG	Procter Gamble	Pair Corr
0.56	MCD	McDonalds	Pair Corr
0.39	BA	Boeing	Pair Corr
0.36	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.32	HD	Home Depot	Pair Corr

Related Correlations Analysis

	TBGAX	FHTFX	XAFBX	JAFLX	0P000070L2	XMHFX	OWFIX
TBGAX		0.99	0.98	0.92	0.84	0.94	0.84	TBGAX
FHTFX	0.99		0.98	0.91	0.8	0.94	0.83	FHTFX
XAFBX	0.98	0.98		0.92	0.73	0.97	0.82	XAFBX
JAFLX	0.92	0.91	0.92		0.7	0.89	0.97	JAFLX
0P000070L2	0.84	0.8	0.73	0.7		0.63	0.67	0P000070L2
XMHFX	0.94	0.94	0.97	0.89	0.63		0.8	XMHFX
OWFIX	0.84	0.83	0.82	0.97	0.67	0.8		OWFIX
	TBGAX	FHTFX	XAFBX	JAFLX	0P000070L2	XMHFX	OWFIX

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
TBGAX	0.13	0.06	0.30	22.42	(0.20)	0.38	(0.18)	0.95
FHTFX	0.13	0.07	0.25	(11.34)	(0.24)	0.39	(0.13)	1.16
XAFBX	0.24	0.00	0.32	0.00	(0.36)	0.84	(0.33)	2.18
JAFLX	0.15	0.02	0.02	1.96	(0.20)	0.30	(0.20)	0.99
0P000070L2	0.03	0.01	0.00	(0.67)	0.00	0.00	0.00	0.40
XMHFX	0.15	0.03	0.04	1.47	(0.22)	0.29	(0.15)	1.45
OWFIX	0.13	0.01	(0.03)	(6.04)	(0.18)	0.29	(0.20)	0.68

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