Fidelity Asset Correlations

FTAWX Fund

USD 14.38 0.01 0.07%

The current 90-days correlation between Fidelity Asset Manager and Redwood Real Estate is 0.02 (i.e., Significant 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 0.23 (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 interest.

Moving together with Fidelity Mutual Fund

0.82	FPURX	Fidelity Puritan	Pair Corr
0.92	FPUKX	Fidelity Puritan	Pair Corr
0.69	FPXTX	Fidelity Pennsylvania	Pair Corr
0.79	FQIFX	Fidelity Freedom Index	Pair Corr
0.78	FQIPX	Fidelity Freedom Index	Pair Corr
0.75	FQLSX	Fidelity Flex Freedom	Pair Corr
0.92	FRBDX	Fidelity Freedom 2070	Pair Corr
0.92	FRBEX	Fidelity Freedom 2070	Pair Corr
0.92	FRBHX	Fidelity Freedom 2070	Pair Corr
0.69	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.88	FRBOX	Fidelity Advisor Freedom	Pair Corr
0.74	FRBQX	Fidelity Flex Freedom	Pair Corr
0.94	FRBUX	Fidelity Freedom Index	Pair Corr
0.94	FRBVX	Fidelity Freedom Index	Pair Corr
0.94	FRBWX	Fidelity Freedom Index	Pair Corr
0.92	FRBYX	Fidelity Freedom Blend	Pair Corr
0.94	FRAGX	Aggressive Growth	Pair Corr
0.97	FRAMX	Fidelity Income Repl	Pair Corr
0.74	FRCHX	Fidelity Freedom Blend	Pair Corr
0.9	FRCNX	Fidelity Freedom Blend	Pair Corr
0.92	FRCWX	Fidelity Sustainable	Pair Corr
0.78	FRGAX	Growth Allocation Index	Pair Corr
0.7	FRIFX	Fidelity Real Estate	Pair Corr
0.68	FRINX	Fidelity Real Estate	Pair Corr
0.98	FRHMX	Fidelity Managed Ret	Pair Corr
0.71	FRIRX	Fidelity Real Estate	Pair Corr
0.78	FRLPX	Fidelity Freedom Index	Pair Corr
0.98	FRQKX	Fidelity Managed Ret	Pair Corr
0.97	FRQAX	Fidelity Income Repl	Pair Corr
0.95	FAAIX	Fidelity Asset Manager	Pair Corr
0.66	FACTX	Fidelity Advisor Health	Pair Corr
0.96	FADMX	Fidelity Advisor Str	Pair Corr
0.72	FAFEX	Fidelity Advisor Freedom	Pair Corr

Moving against Fidelity Mutual Fund

0.57

FTF

Franklin Templeton

Pair Corr

Related Correlations Analysis

	CREMX	PNDIX	FORFX	FREEX	VRREX	NRCFX	BREUX	MXREX
CREMX		1.0	0.99	-0.07	0.11	0.02	-0.46	0.34	CREMX
PNDIX	1.0		0.98	-0.05	0.13	0.04	-0.45	0.35	PNDIX
FORFX	0.99	0.98		-0.07	0.1	-0.01	-0.48	0.33	FORFX
FREEX	-0.07	-0.05	-0.07		0.97	0.95	0.66	0.88	FREEX
VRREX	0.11	0.13	0.1	0.97		0.96	0.6	0.93	VRREX
NRCFX	0.02	0.04	-0.01	0.95	0.96		0.63	0.85	NRCFX
BREUX	-0.46	-0.45	-0.48	0.66	0.6	0.63		0.5	BREUX
MXREX	0.34	0.35	0.33	0.88	0.93	0.85	0.5		MXREX
	CREMX	PNDIX	FORFX	FREEX	VRREX	NRCFX	BREUX	MXREX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PNDIX	+ 1.0	CREMX
FORFX	+ 0.99	CREMX
FORFX	+ 0.98	PNDIX
VRREX	+ 0.97	FREEX
NRCFX	+ 0.96	VRREX
NRCFX	+ 0.95	FREEX

High negative correlations

BREUX	- 0.48	FORFX
BREUX	- 0.46	CREMX
BREUX	- 0.45	PNDIX
FREEX	- 0.07	FORFX
FREEX	- 0.07	CREMX
FREEX	- 0.05	PNDIX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CREMX	0.02	0.02	0.00	2.83	0.00	0.00	0.08	0.00	0.08
PNDIX	0.04	0.02	0.00	(15.89)	0.00	0.00	0.10	0.00	0.20
FORFX	0.05	0.02	0.00	2.17	0.00	0.00	0.10	0.00	0.21
FREEX	0.59	(0.04)	0.00	(0.15)	0.00	0.00	1.32	(1.23)	3.82
VRREX	0.61	(0.02)	(0.09)	(0.02)	0.85	(0.61)	1.34	(1.29)	3.92
NRCFX	0.54	(0.02)	(0.10)	(0.05)	0.78	(0.51)	1.09	(1.08)	3.42
BREUX	0.76	(0.02)	(0.08)	0.01	0.96	(0.82)	1.90	(1.65)	4.46
MXREX	0.63	0.00	(0.08)	0.07	0.77	(0.69)	1.46	(1.39)	3.86

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