Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FTAWX Fund  USD 13.62  0.01  0.07%   
The current 90-days correlation between Fidelity Asset Manager and Nationwide Inflation Protected Securities is -0.12 (i.e., Good diversification). The correlation of Fidelity Asset 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 Asset Correlation With Market

Significant diversification

The correlation between Fidelity Asset Manager and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Asset Manager 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 Asset Manager. 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 housing.

Moving together with Fidelity Mutual Fund

  0.99FPTKX Fidelity Freedom 2015PairCorr
  0.84FPURX Fidelity PuritanPairCorr
  0.85FPUKX Fidelity PuritanPairCorr
  0.71FPXTX Fidelity PennsylvaniaPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.77FQITX Fidelity Salem StreetPairCorr
  0.95FQLSX Fidelity Flex FreedomPairCorr
  0.95FRBDX Fidelity Freedom 2070PairCorr
  0.95FRBEX Fidelity Freedom 2070PairCorr
  0.9FRBHX Fidelity Freedom 2070PairCorr
  0.95FRBJX Fidelity Advisor FreedomPairCorr
  0.95FRBLX Fidelity Advisor FreedomPairCorr
  0.9FRBPX Fidelity Advisor FreedomPairCorr
  0.9FRBQX Fidelity Flex FreedomPairCorr
  0.9FRBUX Fidelity Freedom IndexPairCorr
  0.9FRBVX Fidelity Freedom IndexPairCorr
  0.95FRBZX Fidelity Freedom BlendPairCorr
  0.93FRAGX Aggressive GrowthPairCorr
  0.78FRAMX Fidelity Income ReplPairCorr
  0.98FRASX Fidelity Income ReplPairCorr
  0.9FRCFX Fidelity Freedom BlendPairCorr
  0.95FRCHX Fidelity Freedom BlendPairCorr
  0.95FRCKX Fidelity Freedom BlendPairCorr
  0.95FRCLX Fidelity Freedom BlendPairCorr
  0.95FRCNX Fidelity Freedom BlendPairCorr
  0.95FRCPX Fidelity Freedom BlendPairCorr
  0.94FRCQX Fidelity SustainablePairCorr
  0.9FRCVX Fidelity SustainablePairCorr
  0.9FRCWX Fidelity SustainablePairCorr
  0.9FRCYX Fidelity SustainablePairCorr
  0.95FRDDX Fidelity SustainablePairCorr
  0.9FRDEX Fidelity SustainablePairCorr
  0.89FRGAX Growth Allocation IndexPairCorr
  0.93FRESX Fidelity Real EstatePairCorr
  0.85FRIFX Fidelity Real EstatePairCorr
  0.91FRIMX Fidelity Income ReplPairCorr
  0.87FRINX Fidelity Real EstatePairCorr
  0.88FRIOX Fidelity Real EstatePairCorr
  0.75FRIQX Fidelity Real EstatePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Asset 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 Asset'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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