Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Index
FRLPX Fund  USD 31.67  0.13  0.41%   
The current 90-days correlation between Fidelity Freedom Index and Fidelity Freedom 2015 is 0.94 (i.e., Almost no 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 0.83 (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 signals in employment.

Moving together with Fidelity Mutual Fund

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.74FPURX Fidelity PuritanPairCorr
  0.74FPUKX Fidelity PuritanPairCorr
  0.98FQIFX Fidelity Freedom IndexPairCorr
  1.0FQIPX Fidelity Freedom IndexPairCorr
  0.61FQITX Fidelity Salem StreetPairCorr
  0.99FQLSX Fidelity Flex FreedomPairCorr
  0.84FRBDX Fidelity Freedom 2070PairCorr
  0.84FRBEX Fidelity Freedom 2070PairCorr
  0.85FRBHX Fidelity Freedom 2070PairCorr
  0.82FRBJX Fidelity Advisor FreedomPairCorr
  0.83FRBKX Fidelity Advisor FreedomPairCorr
  0.97FRBLX Fidelity Advisor FreedomPairCorr
  0.83FRBOX Fidelity Advisor FreedomPairCorr
  0.83FRBPX Fidelity Advisor FreedomPairCorr
  0.85FRBQX Fidelity Flex FreedomPairCorr
  0.85FRBUX Fidelity Freedom IndexPairCorr
  0.85FRBVX Fidelity Freedom IndexPairCorr
  0.85FRBWX Fidelity Freedom IndexPairCorr
  0.84FRBYX Fidelity Freedom BlendPairCorr
  0.84FRBZX Fidelity Freedom BlendPairCorr
  1.0FRAGX Aggressive GrowthPairCorr
  0.86FRAMX Fidelity Income ReplPairCorr
  0.94FRASX Fidelity Income ReplPairCorr
  0.99FRCFX Fidelity Freedom BlendPairCorr
  0.99FRCHX Fidelity Freedom BlendPairCorr
  0.99FRCKX Fidelity Freedom BlendPairCorr
  0.99FRCLX Fidelity Freedom BlendPairCorr
  0.84FRCNX Fidelity Freedom BlendPairCorr
  0.99FRCPX Fidelity Freedom BlendPairCorr
  0.84FRCQX Fidelity SustainablePairCorr
  0.84FRCRX Fidelity SustainablePairCorr
  0.99FRCVX Fidelity SustainablePairCorr
  0.84FRCWX Fidelity SustainablePairCorr
  0.99FRCYX Fidelity SustainablePairCorr
  0.84FRDCX Fidelity SustainablePairCorr
  0.85FRDDX Fidelity SustainablePairCorr
  0.84FRDEX Fidelity SustainablePairCorr
  1.0FRGAX Growth Allocation IndexPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.22  0.00 (0.11) 0.06  0.23 
(0.24)
 0.48 
(0.48)
 1.37 
FPURX  0.46  0.04  0.00  0.15  0.53 
(0.46)
 1.27 
(1.10)
 3.31 
FPUKX  0.46  0.04  0.00  0.14  0.55 
(0.48)
 1.31 
(1.10)
 3.27 
FPXTX  0.08  0.01 (0.36)(1.51) 0.00 
(0.13)
 0.19 
(0.19)
 0.48 
FQIFX  0.30  0.00 (0.07) 0.05  0.39 
(0.30)
 0.63 
(0.66)
 1.72 
FQIPX  0.52  0.00 (0.02) 0.05  0.75 
(0.49)
 1.00 
(1.12)
 2.86 
FQITX  0.73 (0.05)(0.05) 0.00  1.07 
(0.68)
 1.09 
(1.50)
 5.11 
FQLSX  0.53  0.00 (0.01) 0.06  0.79 
(0.50)
 1.04 
(1.17)
 3.05 
FRBDX  0.54  0.03 (0.02) 0.27  0.81 
(0.50)
 1.05 
(1.21)
 3.05 
FRBEX  0.54  0.03 (0.02) 0.30  0.83 
(0.50)
 1.06 
(1.21)
 3.10 

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