Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Blend
FHAPX Fund  USD 14.70  0.02  0.14%   
The current 90-days correlation between Fidelity Freedom Blend and Fidelity Freedom 2010 is 0.81 (i.e., Very 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 good diversification

The correlation between Fidelity Freedom Blend and DJI is -0.21 (i.e., Very good 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 various price indices.

Moving together with Fidelity Mutual Fund

  1.0VFIFX Vanguard Target RetiPairCorr
  0.99AALTX American Funds 2050PairCorr
  0.99FAITX American Funds 2050PairCorr
  1.0FFFHX Fidelity Freedom 2050PairCorr
  1.0FZTKX Fidelity Freedom 2050PairCorr
  1.0FIPFX Fidelity Freedom IndexPairCorr
  0.75NHS Neuberger Berman HighPairCorr
  0.99FAUTX American Funds 2040PairCorr
  0.94GVIYX Guidestone Value EquityPairCorr
  0.96RYATX Nasdaq 100 FundPairCorr
  0.97PQTNX Pimco Trends ManagedPairCorr
  0.9DOXIX Dodge Cox IncomePairCorr
  0.92SUNBX Spectrum UnconstrainedPairCorr
  0.79CSFAX Cohen Steers GlobalPairCorr
  0.93MNDWX Manning Napier DiverPairCorr
  0.99BSPIX Blackrock Sp 500PairCorr
  0.96POSKX Primecap Odyssey StockPairCorr
  0.88PVFAX Paradigm ValuePairCorr
  0.95DFIEX International E EquityPairCorr

Related Correlations Analysis


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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