Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2020
FSNOX Fund  USD 15.39  0.07  0.46%   
The current 90-days correlation between Fidelity Freedom 2020 and Fidelity Small Cap is 0.69 (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 2020 and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2020 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 2020. 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 state.

Moving together with Fidelity Mutual Fund

  1.0VTWNX Vanguard Target RetiPairCorr
  0.99PARBX Trowe Price RetirementPairCorr
  0.65RRTBX Trowe Price RetirementPairCorr
  0.69FFFDX Fidelity Freedom 2020PairCorr
  1.0FATKX Fidelity Freedom 2020PairCorr
  0.99AACTX American Funds 2020PairCorr
  0.99CCCTX American Funds 2020PairCorr
  0.99FAOTX American Funds 2020PairCorr
  0.97SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.63SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.95TTEEX T Rowe PricePairCorr
  0.95TREMX T Rowe PricePairCorr
  0.98FELIX Fidelity Advisor Sem Steady GrowthPairCorr
  0.97ONERX One Rock Fund Steady GrowthPairCorr
  0.98RYVYX Nasdaq 100 2x Steady GrowthPairCorr
  0.98FSELX Fidelity Select Semi Steady GrowthPairCorr
  0.67CAT CaterpillarPairCorr
  0.64MSFT MicrosoftPairCorr
  0.66CVX Chevron CorpPairCorr

Moving against Fidelity Mutual Fund

  0.72PG Procter GamblePairCorr
  0.5TRV The Travelers Companies Sell-off TrendPairCorr
  0.49KO Coca Cola Sell-off TrendPairCorr
  0.34MCD McDonaldsPairCorr

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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