Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FEYAX Fund  USD 30.71  0.11  0.36%   
The current 90-days correlation between Fidelity Asset Manager and JPMorgan BetaBuilders Developed is 0.01 (i.e., Significant 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

Modest diversification

The correlation between Fidelity Asset Manager and DJI is 0.24 (i.e., Modest 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 nation.

Moving together with Fidelity Mutual Fund

  0.89FPTKX Fidelity Freedom 2015PairCorr
  0.92FPURX Fidelity PuritanPairCorr
  0.92FPUKX Fidelity PuritanPairCorr
  0.79FPXTX Fidelity PennsylvaniaPairCorr
  0.92FQIFX Fidelity Freedom IndexPairCorr
  0.94FQIPX Fidelity Freedom IndexPairCorr
  0.86FQITX Fidelity Salem StreetPairCorr
  0.94FQLSX Fidelity Flex FreedomPairCorr
  0.99FRBDX Fidelity Freedom 2070PairCorr
  0.99FRBEX Fidelity Freedom 2070PairCorr
  0.99FRBHX Fidelity Freedom 2070PairCorr
  0.99FRBJX Fidelity Advisor FreedomPairCorr
  0.99FRBKX Fidelity Advisor FreedomPairCorr
  0.99FRBLX Fidelity Advisor FreedomPairCorr
  0.94FRBNX Fidelity Advisor FreedomPairCorr
  0.99FRBOX Fidelity Advisor FreedomPairCorr
  0.99FRBPX Fidelity Advisor FreedomPairCorr
  0.99FRBQX Fidelity Flex FreedomPairCorr
  1.0FRBUX Fidelity Freedom IndexPairCorr
  0.94FRBVX Fidelity Freedom IndexPairCorr
  1.0FRBWX Fidelity Freedom IndexPairCorr
  0.99FRBYX Fidelity Freedom BlendPairCorr
  0.94FRBZX Fidelity Freedom BlendPairCorr
  0.93FRAGX Aggressive GrowthPairCorr
  0.95FRAMX Fidelity Income ReplPairCorr
  0.9FRASX Fidelity Income ReplPairCorr
  0.99FRCFX Fidelity Freedom BlendPairCorr
  0.99FRCHX Fidelity Freedom BlendPairCorr
  0.99FRCKX Fidelity Freedom BlendPairCorr
  0.94FRCLX Fidelity Freedom BlendPairCorr
  0.99FRCNX Fidelity Freedom BlendPairCorr
  0.99FRCPX Fidelity Freedom BlendPairCorr
  1.0FRCQX Fidelity SustainablePairCorr
  1.0FRCRX Fidelity SustainablePairCorr
  1.0FRCVX Fidelity SustainablePairCorr
  1.0FRCWX Fidelity SustainablePairCorr
  1.0FRCYX Fidelity SustainablePairCorr
  1.0FRDCX Fidelity SustainablePairCorr
  1.0FRDDX Fidelity SustainablePairCorr
  1.0FRDEX Fidelity SustainablePairCorr

Related Correlations Analysis


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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
BBAX  0.54  0.01 (0.02) 0.11  0.61 
(0.52)
 1.13 
(1.26)
 3.00 
FELC  0.54 (0.02)(0.04) 0.07  0.69 
(0.53)
 1.14 
(1.11)
 3.21 
FIASX  0.41  0.07 (0.01) 0.61  0.39 
(0.44)
 0.80 
(0.85)
 1.94 
FICSX  0.40  0.06  0.01  0.23  0.36 
(0.42)
 0.80 
(0.89)
 1.96 
LMBS  0.09  0.02 (0.75) 2.33  0.00 
(0.10)
 0.18 
(0.14)
 0.60 
DFSV  0.76  0.05  0.06  0.13  0.75 
(0.87)
 1.83 
(1.26)
 4.39 
DFSD  0.07  0.00 (0.97) 0.01  0.00 
(0.08)
 0.15 
(0.13)
 0.40 
EFAV  0.38  0.03 (0.06) 0.16  0.31 
(0.44)
 0.83 
(0.76)
 2.53 
EWT  0.86  0.07  0.04  0.17  1.10 
(0.82)
 1.76 
(2.17)
 5.12 
XMHQ  0.74 (0.05)(0.05) 0.04  0.85 
(0.79)
 1.71 
(1.45)
 3.67 

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