Growth Allocation Correlations

Mutual Funds . USA . 
Fund . Growth Allocation Index
FRGAX Fund  USD 11.16  0.03  0.27%   
The current 90-days correlation between Growth Allocation Index and Fidelity Asset Manager is 0.11 (i.e., Average diversification). The correlation of Growth Allocation 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.

Growth Allocation Correlation With Market

Average diversification

The correlation between Growth Allocation Index and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth Allocation 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 Growth Allocation 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 nation.

Moving together with Growth Mutual Fund

  0.9FPURX Fidelity PuritanPairCorr
  0.85FPUKX Fidelity PuritanPairCorr
  0.79FQIFX Fidelity Freedom IndexPairCorr
  0.98FQIPX Fidelity Freedom IndexPairCorr
  0.8FQLSX Fidelity Flex FreedomPairCorr
  0.99FRAGX Aggressive GrowthPairCorr
  0.84FRLPX Fidelity Freedom IndexPairCorr
  0.87FAASX Fidelity Asset ManagerPairCorr
  0.87FAAIX Fidelity Asset ManagerPairCorr
  0.7FACVX Fidelity VertiblePairCorr
  0.78FACPX Fidelity Advisor SumerPairCorr
  0.67FACGX Fidelity Advisor GrowthPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FEYIX
+ 0.99
FAASX
FABCX
+ 0.61
FAIOX
FAIOX
+ 0.07
FEYIX
FAIOX
+ 0.03
FAASX
FABCX
+ 0.0
FEYIX
  
High negative correlations   
FIMKX
- 0.21
FEYIX
FIMKX
- 0.16
FAASX
FIMKX
- 0.1
FAIOX
FABCX
- 0.06
FAASX
FIMKX
- 0.01
FABCX
FABCX
- 0.0
FEYIX

Risk-Adjusted Indicators

There is a big difference between Growth Mutual Fund performing well and Growth Allocation 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 Growth Allocation'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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