Fidelity Freedom Correlations

FAXEX Fund

USD 15.53 0.08 0.51%

The current 90-days correlation between Fidelity Freedom Blend and High Yield Fund A is 0.53 (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

Average diversification

The correlation between Fidelity Freedom Blend and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom Blend 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 Blend. 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 banks.

Moving together with Fidelity Mutual Fund

0.87	FPTKX	Fidelity Freedom 2015	Pair Corr
0.74	FPURX	Fidelity Puritan	Pair Corr
0.76	FPXTX	Fidelity Pennsylvania	Pair Corr
0.9	FQLSX	Fidelity Flex Freedom	Pair Corr
1.0	FRBHX	Fidelity Freedom 2070	Pair Corr
0.89	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.99	FRBUX	Fidelity Freedom Index	Pair Corr
0.9	FRBVX	Fidelity Freedom Index	Pair Corr
0.9	FRBWX	Fidelity Freedom Index	Pair Corr
0.93	FRAMX	Fidelity Income Repl	Pair Corr
1.0	FRCNX	Fidelity Freedom Blend	Pair Corr
0.81	FSAWX	Fidelity Sai Convertible	Pair Corr
0.89	FSELX	Fidelity Select Semi	Pair Corr
0.85	FASIX	Fidelity Asset Manager	Pair Corr
0.78	FSJPX	Fidelity Sai Japan	Pair Corr
0.99	FAVWX	Fidelity Freedom Index	Pair Corr
0.99	FAVPX	Fidelity Freedom Index	Pair Corr
1.0	FAZAX	Fidelity Advisor Freedom	Pair Corr
0.64	FSMTX	Fidelity Sai Total	Pair Corr
0.84	FSPSX	Fidelity International	Pair Corr
0.89	FSPTX	Technology Portfolio	Pair Corr
1.0	FSNZX	Fidelity Freedom 2045	Pair Corr
0.62	FSSNX	Fidelity Small Cap	Pair Corr
0.9	FTAWX	Fidelity Asset Manager	Pair Corr
0.9	FTDWX	Fidelity Asset Manager	Pair Corr
0.86	FTCWX	Fidelity Asset Manager	Pair Corr
0.85	FTIWX	Fidelity Asset Manager	Pair Corr
0.7	FCLCX	Fidelity Advisor Ind	Pair Corr
0.85	FCLAX	Fidelity Advisor Ind	Pair Corr
0.77	FCMAX	Fidelity California	Pair Corr

Related Correlations Analysis

	AHYVX	CYBAX	TAHFX	FHYIX	TIYRX	PHDCX	NHCCX	IPIMX
AHYVX		0.92	0.89	0.67	0.97	0.94	0.63	0.73	AHYVX
CYBAX	0.92		0.88	0.57	0.95	0.95	0.52	0.77	CYBAX
TAHFX	0.89	0.88		0.68	0.92	0.91	0.63	0.76	TAHFX
FHYIX	0.67	0.57	0.68		0.7	0.75	0.98	0.69	FHYIX
TIYRX	0.97	0.95	0.92	0.7		0.98	0.65	0.79	TIYRX
PHDCX	0.94	0.95	0.91	0.75	0.98		0.71	0.82	PHDCX
NHCCX	0.63	0.52	0.63	0.98	0.65	0.71		0.67	NHCCX
IPIMX	0.73	0.77	0.76	0.69	0.79	0.82	0.67		IPIMX
	AHYVX	CYBAX	TAHFX	FHYIX	TIYRX	PHDCX	NHCCX	IPIMX

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
AHYVX	0.16	0.02	(0.14)	2.36	0.03	(0.26)	0.39	(0.39)	0.98
CYBAX	0.12	0.01	(0.28)	0.65	0.02	(0.15)	0.32	(0.24)	0.84
TAHFX	0.13	0.01	(0.20)	0.83	0.00	(0.19)	0.24	(0.24)	0.97
FHYIX	0.15	0.06	0.02	2.90	0.00	(0.26)	0.45	(0.12)	0.91
TIYRX	0.15	0.02	(0.17)	2.14	0.00	(0.21)	0.34	(0.34)	1.02
PHDCX	0.13	0.01	(0.20)	1.23	0.00	(0.20)	0.37	(0.25)	0.87
NHCCX	0.19	0.00	0.05	0.00	0.00	(0.26)	0.57	(0.28)	1.52
IPIMX	0.12	0.00	(0.22)	0.07	0.00	(0.20)	0.34	(0.23)	0.80

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Fidelity Freedom Correlations

Fidelity Freedom Correlation With Market

Average diversification

Moving together with Fidelity Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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