Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2015
FPTKX Fund  USD 11.54  0.08  0.70%   
The current 90-days correlation between Fidelity Freedom 2015 and Fidelity Puritan Fund is 0.77 (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

Very weak diversification

The correlation between Fidelity Freedom 2015 and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2015 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 2015. 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 industry.

Moving together with Fidelity Mutual Fund

  0.95FPURX Fidelity PuritanPairCorr
  0.95FPUKX Fidelity PuritanPairCorr
  0.85FPXTX Fidelity PennsylvaniaPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.85FQITX Fidelity Salem StreetPairCorr
  0.94FQLSX Fidelity Flex FreedomPairCorr
  0.98FRAGX Aggressive GrowthPairCorr
  0.99FRAMX Fidelity Income ReplPairCorr
  0.96FRASX Fidelity Income ReplPairCorr
  0.98FRGAX Growth Allocation IndexPairCorr
  0.87FRESX Fidelity Real EstatePairCorr
  0.94FRIFX Fidelity Real EstatePairCorr
  0.92FRIMX Fidelity Income ReplPairCorr
  0.93FRINX Fidelity Real EstatePairCorr
  0.94FRIOX Fidelity Real EstatePairCorr
  0.93FRIQX Fidelity Real EstatePairCorr
  0.99FRHMX Fidelity Managed RetPairCorr
  0.99FRKMX Fidelity Managed RetPairCorr
  0.94FRIRX Fidelity Real EstatePairCorr
  0.95FRLPX Fidelity Freedom IndexPairCorr
  0.85FROGX Fidelity Municipal IncomePairCorr
  0.99FRQHX Fidelity Managed RetPairCorr
  0.99FRQIX Fidelity Income ReplPairCorr
  0.99FRQKX Fidelity Managed RetPairCorr
  0.79FRQYX Fidelity Advisor ManagedPairCorr
  0.99FRQAX Fidelity Income ReplPairCorr
  0.98FAASX Fidelity Asset ManagerPairCorr
  0.94FAAIX Fidelity Asset ManagerPairCorr
  0.97FABLX Fidelity Advisor BalancedPairCorr
  0.96FABCX Fidelity Advisor BalancedPairCorr
  0.86FACVX Fidelity ConvertiblePairCorr
  0.75FACTX Fidelity Advisor HealthPairCorr
  0.86FACPX Fidelity Advisor SumerPairCorr
  0.61FACNX Fidelity CanadaPairCorr
  0.87FACGX Fidelity Advisor GrowthPairCorr
  0.99FACFX Fidelity Advisor FreedomPairCorr
  0.71FACDX Fidelity Advisor HealthPairCorr

Moving against Fidelity Mutual Fund

  0.38FRPDX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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