Fidelity Freedom Correlations

FVTKX Fund

USD 17.26 0.06 0.35%

The current 90-days correlation between Fidelity Freedom 2060 and Financial Industries Fund is 0.59 (i.e., Very weak 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

Very poor diversification

The correlation between Fidelity Freedom 2060 and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2060 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 2060. 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 board of governors.

Moving together with Fidelity Mutual Fund

0.97	FPTKX	Fidelity Freedom 2015	Pair Corr
0.81	FPURX	Fidelity Puritan	Pair Corr
0.81	FPUKX	Fidelity Puritan	Pair Corr
0.8	FPXTX	Fidelity Pennsylvania	Pair Corr
0.98	FQIFX	Fidelity Freedom Index	Pair Corr
1.0	FQIPX	Fidelity Freedom Index	Pair Corr
0.67	FQITX	Fidelity Salem Street	Pair Corr
1.0	FQLSX	Fidelity Flex Freedom	Pair Corr
1.0	FRBEX	Fidelity Freedom 2070	Pair Corr
0.91	FRBHX	Fidelity Freedom 2070	Pair Corr
0.89	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.99	FRBOX	Fidelity Advisor Freedom	Pair Corr
1.0	FRBQX	Fidelity Flex Freedom	Pair Corr
0.91	FRBUX	Fidelity Freedom Index	Pair Corr
1.0	FRBVX	Fidelity Freedom Index	Pair Corr
1.0	FRBWX	Fidelity Freedom Index	Pair Corr
1.0	FRBYX	Fidelity Freedom Blend	Pair Corr
1.0	FRAGX	Aggressive Growth	Pair Corr
0.94	FRAMX	Fidelity Income Repl	Pair Corr
1.0	FRCHX	Fidelity Freedom Blend	Pair Corr
1.0	FRCNX	Fidelity Freedom Blend	Pair Corr
0.91	FRCWX	Fidelity Sustainable	Pair Corr
1.0	FRGAX	Growth Allocation Index	Pair Corr
0.7	FRIFX	Fidelity Real Estate	Pair Corr
0.69	FRINX	Fidelity Real Estate	Pair Corr
0.94	FRHMX	Fidelity Managed Ret	Pair Corr
0.69	FRIRX	Fidelity Real Estate	Pair Corr
1.0	FRLPX	Fidelity Freedom Index	Pair Corr
0.94	FRQKX	Fidelity Managed Ret	Pair Corr
0.94	FRQAX	Fidelity Income Repl	Pair Corr
1.0	FAAIX	Fidelity Asset Manager	Pair Corr
0.64	FADTX	Fidelity Advisor Tec	Pair Corr
0.93	FADMX	Fidelity Advisor Str	Pair Corr
0.99	FAFEX	Fidelity Advisor Freedom	Pair Corr
0.94	FAGIX	Fidelity Capital Income	Pair Corr

Moving against Fidelity Mutual Fund

0.39

FTF

Franklin Templeton

Pair Corr

Related Correlations Analysis

	FIDAX	MCBXX	DVFYX	XFINX	SBFAX	GCFSX	VFAIX
FIDAX		0.0	0.72	0.31	0.89	0.68	0.93	FIDAX
MCBXX	0.0		0.0	0.0	0.0	0.0	0.0	MCBXX
DVFYX	0.72	0.0		0.35	0.36	0.92	0.6	DVFYX
XFINX	0.31	0.0	0.35		0.17	0.27	0.24	XFINX
SBFAX	0.89	0.0	0.36	0.17		0.34	0.91	SBFAX
GCFSX	0.68	0.0	0.92	0.27	0.34		0.5	GCFSX
VFAIX	0.93	0.0	0.6	0.24	0.91	0.5		VFAIX
	FIDAX	MCBXX	DVFYX	XFINX	SBFAX	GCFSX	VFAIX

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

VFAIX	+ 0.93	FIDAX
GCFSX	+ 0.92	DVFYX
VFAIX	+ 0.91	SBFAX
SBFAX	+ 0.89	FIDAX
DVFYX	+ 0.72	FIDAX
GCFSX	+ 0.68	FIDAX

High negative correlations

VFAIX	- 0.0	MCBXX
GCFSX	- 0.0	MCBXX
SBFAX	- 0.0	MCBXX
XFINX	- 0.0	MCBXX
DVFYX	- 0.0	MCBXX
MCBXX	- 0.0	FIDAX

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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FIDAX	0.70	(0.08)	0.00	(0.01)	0.00	0.00	1.36	(1.54)	5.59
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DVFYX	0.63	(0.03)	(0.03)	0.03	0.88	(0.66)	1.41	(1.37)	3.98
XFINX	0.14	(0.01)	(0.18)	0.00	0.24	(0.16)	0.29	(0.14)	1.44
SBFAX	0.64	(0.14)	0.00	(0.08)	0.00	0.00	1.36	(1.77)	4.82
GCFSX	0.53	(0.04)	(0.08)	0.01	0.67	(0.58)	1.12	(1.07)	3.47
VFAIX	0.67	(0.08)	0.00	(0.02)	0.00	0.00	1.28	(1.73)	4.59

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