Fidelity Flex Correlations

Mutual Funds . USA . 
Fund . Fidelity Flex Freedom
FRBQX Fund   11.72  0.07  0.60%   
The current 90-days correlation between Fidelity Flex Freedom and Fidelity New Markets is -0.22 (i.e., Very good 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

Very poor diversification

The correlation between Fidelity Flex Freedom and DJI is 0.86 (i.e., Very poor 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 employment.

Moving together with Fidelity Mutual Fund

  1.0VLXVX Vanguard Target RetiPairCorr
  0.99FBMTX American Funds 2065PairCorr
  0.99RCPTX American Funds 2065PairCorr
  0.99FAXTX American Funds 2065PairCorr
  0.99RBEOX American Funds 2065PairCorr
  0.99AAOTX American Funds 2065PairCorr
  0.99RDLTX American Funds 2065PairCorr
  0.99RHLTX American Funds 2065PairCorr
  0.99RFVTX American Funds 2065PairCorr
  0.99RBOTX American Funds 2065PairCorr
  0.61HLDRX Hartford EmergingPairCorr
  0.77ATHIX Heritage Fund IPairCorr
  0.67PQTNX Pimco Trends ManagedPairCorr
  0.85EKJAX Wells Fargo PremierPairCorr
  0.85PHYEX Pgim High YieldPairCorr
  0.64FAFRX Franklin Floating RatePairCorr
  0.99QCBGX Federated Mdt BalancedPairCorr
  0.9TEPSX Technology UltrasectorPairCorr
  0.86NECLX Loomis Sayles LimitedPairCorr

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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