Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FTAWX Fund  USD 14.45  0.03  0.21%   
The current 90-days correlation between Fidelity Asset Manager and Nuveen Strategic Municipal is 0.13 (i.e., Average diversification). The correlation of Fidelity Asset 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 Asset Correlation With Market

Modest diversification

The correlation between Fidelity Asset Manager and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Asset Manager 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 Asset Manager. 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 private.

Moving together with Fidelity Mutual Fund

  0.9FPTKX Fidelity Freedom 2015PairCorr
  0.84FPURX Fidelity PuritanPairCorr
  0.84FPUKX Fidelity PuritanPairCorr
  0.8FPXTX Fidelity PennsylvaniaPairCorr
  0.89FQIFX Fidelity Freedom IndexPairCorr
  0.87FQIPX Fidelity Freedom IndexPairCorr
  0.84FQLSX Fidelity Flex FreedomPairCorr
  0.91FRBDX Fidelity Freedom 2070PairCorr
  0.91FRBEX Fidelity Freedom 2070PairCorr
  0.84FRBHX Fidelity Freedom 2070PairCorr
  0.8FRBJX Fidelity Advisor FreedomPairCorr
  0.8FRBKX Fidelity Advisor FreedomPairCorr
  0.79FRBLX Fidelity Advisor FreedomPairCorr
  0.81FRBOX Fidelity Advisor FreedomPairCorr
  0.81FRBPX Fidelity Advisor FreedomPairCorr
  0.91FRBQX Fidelity Flex FreedomPairCorr
  0.86FRBUX Fidelity Freedom IndexPairCorr
  0.86FRBVX Fidelity Freedom IndexPairCorr
  0.86FRBWX Fidelity Freedom IndexPairCorr
  0.9FRBYX Fidelity Freedom BlendPairCorr
  0.83FRBZX Fidelity Freedom BlendPairCorr
  0.86FRAGX Aggressive GrowthPairCorr
  0.97FRAMX Fidelity Income ReplPairCorr
  0.88FRASX Fidelity Income ReplPairCorr
  0.91FRCFX Fidelity Freedom BlendPairCorr
  0.84FRCHX Fidelity Freedom BlendPairCorr
  0.83FRCKX Fidelity Freedom BlendPairCorr
  0.81FRCLX Fidelity Freedom BlendPairCorr
  0.9FRCNX Fidelity Freedom BlendPairCorr
  0.91FRCPX Fidelity Freedom BlendPairCorr
  0.91FRCQX Fidelity SustainablePairCorr
  0.85FRCRX Fidelity SustainablePairCorr
  0.92FRCVX Fidelity SustainablePairCorr
  0.91FRCWX Fidelity SustainablePairCorr
  0.91FRCYX Fidelity SustainablePairCorr
  0.83FRDCX Fidelity SustainablePairCorr
  0.85FRDDX Fidelity SustainablePairCorr
  0.92FRDEX Fidelity SustainablePairCorr
  0.87FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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