Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FTDWX Fund  USD 13.75  0.06  0.43%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity New Markets is 0.31 (i.e., Weak 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 0.09 (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

  0.9FPTKX Fidelity Freedom 2015PairCorr
  0.89FPURX Fidelity PuritanPairCorr
  0.89FPUKX Fidelity PuritanPairCorr
  0.9FQIFX Fidelity Freedom IndexPairCorr
  0.9FQIPX Fidelity Freedom IndexPairCorr
  0.84FQITX Fidelity Salem StreetPairCorr
  0.9FQLSX Fidelity Flex FreedomPairCorr
  0.87FRBDX Fidelity Freedom 2070PairCorr
  0.87FRBEX Fidelity Freedom 2070PairCorr
  0.87FRBHX Fidelity Freedom 2070PairCorr
  0.87FRBJX Fidelity Advisor FreedomPairCorr
  0.87FRBKX Fidelity Advisor FreedomPairCorr
  0.94FRBLX Fidelity Advisor FreedomPairCorr
  0.87FRBOX Fidelity Advisor FreedomPairCorr
  0.87FRBPX Fidelity Advisor FreedomPairCorr
  0.87FRBQX Fidelity Flex FreedomPairCorr
  0.87FRBUX Fidelity Freedom IndexPairCorr
  0.87FRBVX Fidelity Freedom IndexPairCorr
  0.87FRBWX Fidelity Freedom IndexPairCorr
  0.87FRBYX Fidelity Freedom BlendPairCorr
  0.87FRBZX Fidelity Freedom BlendPairCorr
  0.9FRAGX Aggressive GrowthPairCorr
  0.88FRAMX Fidelity Income ReplPairCorr
  0.89FRASX Fidelity Income ReplPairCorr
  0.87FRCFX Fidelity Freedom BlendPairCorr
  0.87FRCHX Fidelity Freedom BlendPairCorr
  0.9FRCKX Fidelity Freedom BlendPairCorr
  0.87FRCLX Fidelity Freedom BlendPairCorr
  0.87FRCNX Fidelity Freedom BlendPairCorr
  0.87FRCPX Fidelity Freedom BlendPairCorr
  0.94FRCQX Fidelity SustainablePairCorr
  0.87FRCRX Fidelity SustainablePairCorr
  0.9FRCVX Fidelity SustainablePairCorr
  0.87FRCWX Fidelity SustainablePairCorr
  0.87FRCYX Fidelity SustainablePairCorr
  0.9FRDCX Fidelity SustainablePairCorr
  0.87FRDDX Fidelity SustainablePairCorr
  0.87FRDEX Fidelity SustainablePairCorr
  0.9FRGAX Growth Allocation IndexPairCorr

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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