Fidelity Freedom Correlations

FRBWX Fund

12.46 0.02 0.16%

The current 90-days correlation between Fidelity Freedom Index and Rbc Emerging Markets is 0.78 (i.e., 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 poor diversification

The correlation between Fidelity Freedom Index and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom Index 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 Index. 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

1.0	VLXVX	Vanguard Target Reti	Pair Corr
1.0	FFIJX	Fidelity Freedom Index	Pair Corr
0.99	FFSFX	Fidelity Freedom 2065	Pair Corr
0.73	RCPTX	American Funds 2065	Pair Corr
0.73	FAXTX	American Funds 2065	Pair Corr
0.84	CRF	Cornerstone Total Return	Pair Corr
0.67	PIODX	Pioneer Fund Pioneer	Pair Corr
0.65	IBM	International Business	Pair Corr
0.66	AA	Alcoa Corp	Pair Corr
0.63	AXP	American Express	Pair Corr
0.61	INTC	Intel	Pair Corr

Moving against Fidelity Mutual Fund

0.48	VZ	Verizon Communications	Pair Corr
0.33	PG	Procter Gamble	Pair Corr
0.31	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	REMVX	PCMNX	STARX	OPTCX	PRSAX	SEDAX
REMVX		0.91	0.55	0.7	0.83	0.87	REMVX
PCMNX	0.91		0.33	0.57	0.83	0.9	PCMNX
STARX	0.55	0.33		0.78	0.25	0.4	STARX
OPTCX	0.7	0.57	0.78		0.4	0.75	OPTCX
PRSAX	0.83	0.83	0.25	0.4		0.68	PRSAX
SEDAX	0.87	0.9	0.4	0.75	0.68		SEDAX
	REMVX	PCMNX	STARX	OPTCX	PRSAX	SEDAX

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
REMVX	0.64	0.10	0.08	0.21	0.71	(0.73)	1.38	(0.83)	4.64
PCMNX	0.06	0.02	(0.36)	1.03	0.00	(0.11)	0.16	(0.08)	0.49
STARX	0.35	0.00	(0.04)	0.06	0.49	(0.38)	0.78	(0.85)	2.31
OPTCX	0.17	0.00	(0.18)	0.08	0.08	(0.23)	0.41	(0.30)	1.01
PRSAX	0.07	0.00	(0.51)	(0.14)	0.00	(0.14)	0.10	(0.10)	0.69
SEDAX	0.18	0.04	(0.06)	0.41	0.00	(0.24)	0.43	(0.33)	0.97

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