Fidelity Flex Correlations

Mutual Funds . USA . 
Fund . Fidelity Flex Freedom
FRBQX Fund   12.38  0.12  0.98%   
The current 90-days correlation between Fidelity Flex Freedom and Fidelity Freedom Blend is 0.05 (i.e., Significant diversification). The correlation of Fidelity Flex 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 Flex Correlation With Market

Average diversification

The correlation between Fidelity Flex Freedom 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 Flex Freedom 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 Flex Freedom. 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 producer price index.

Moving together with Fidelity Mutual Fund

  0.95FPTKX Fidelity Freedom 2015PairCorr
  0.71FPURX Fidelity PuritanPairCorr
  0.71FPUKX Fidelity PuritanPairCorr
  0.84FQIFX Fidelity Freedom IndexPairCorr
  0.88FQIPX Fidelity Freedom IndexPairCorr
  0.87FQLSX Fidelity Flex FreedomPairCorr
  1.0FRBDX Fidelity Freedom 2070PairCorr
  1.0FRBEX Fidelity Freedom 2070PairCorr
  1.0FRBHX Fidelity Freedom 2070PairCorr
  0.99FRBJX Fidelity Advisor FreedomPairCorr
  0.84FRBKX Fidelity Advisor FreedomPairCorr
  0.83FRBLX Fidelity Advisor FreedomPairCorr
  0.84FRBOX Fidelity Advisor FreedomPairCorr
  0.99FRBPX Fidelity Advisor FreedomPairCorr
  0.86FRBUX Fidelity Freedom IndexPairCorr
  0.99FRBVX Fidelity Freedom IndexPairCorr
  0.86FRBWX Fidelity Freedom IndexPairCorr
  0.86FRBYX Fidelity Freedom BlendPairCorr
  0.86FRBZX Fidelity Freedom BlendPairCorr
  0.87FRAGX Aggressive GrowthPairCorr
  0.89FRAMX Fidelity Income ReplPairCorr
  0.79FRASX Fidelity Income ReplPairCorr
  0.86FRCFX Fidelity Freedom BlendPairCorr
  0.86FRCHX Fidelity Freedom BlendPairCorr
  0.87FRCKX Fidelity Freedom BlendPairCorr
  0.84FRCLX Fidelity Freedom BlendPairCorr
  0.85FRCNX Fidelity Freedom BlendPairCorr
  0.87FRCPX Fidelity Freedom BlendPairCorr
  0.86FRCQX Fidelity SustainablePairCorr
  0.87FRCRX Fidelity SustainablePairCorr
  0.99FRCVX Fidelity SustainablePairCorr
  1.0FRCYX Fidelity SustainablePairCorr
  0.85FRDCX Fidelity SustainablePairCorr
  0.99FRDDX Fidelity SustainablePairCorr
  0.99FRDEX Fidelity SustainablePairCorr
  0.86FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Flex 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 Flex'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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