Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FTCWX Fund  USD 14.22  0.01  0.07%   
The current 90-days correlation between Fidelity Asset Manager and T Rowe Price is 0.37 (i.e., Weak 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

Poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.66 (i.e., Poor 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

  1.0FPTKX Fidelity Freedom 2015PairCorr
  0.97FQLSX Fidelity Flex FreedomPairCorr
  0.94FRBEX Fidelity Freedom 2070PairCorr
  0.93FRBPX Fidelity Advisor FreedomPairCorr
  0.98FRAGX Aggressive GrowthPairCorr
  0.94FRCHX Fidelity Freedom BlendPairCorr
  0.93FRCRX Fidelity SustainablePairCorr
  0.93FRCWX Fidelity SustainablePairCorr
  1.0FRIMX Fidelity Income ReplPairCorr
  1.0FRQHX Fidelity Managed RetPairCorr
  1.0FRQIX Fidelity Income ReplPairCorr
  0.95FAASX Fidelity Asset ManagerPairCorr
  0.98FAAIX Fidelity Asset ManagerPairCorr
  0.78FACPX Fidelity Advisor SumerPairCorr
  0.86FACDX Fidelity Advisor HealthPairCorr
  0.86FADTX Fidelity Advisor TecPairCorr
  0.97FAGIX Fidelity Capital IncomePairCorr
  0.91FALAX Fidelity Advisor LargePairCorr
  0.95FSAGX Gold Portfolio GoldPairCorr
  0.93FSAKX Strategic Advisers TotalPairCorr
  0.96FSAMX Strategic AdvisersPairCorr
  0.79FSAVX Automotive PortfolioPairCorr
  0.93FSAWX Fidelity Sai ConvertiblePairCorr
  0.97FSAZX Fidelity Arizona MunPairCorr
  0.64FANIX Fidelity Advisor Energy Steady GrowthPairCorr
  0.63FANAX Fidelity Advisor Energy Steady GrowthPairCorr
  0.97FAMRX Fidelity Asset ManagerPairCorr
  0.8FSCEX Fidelity Advisor SmallPairCorr
  0.85FSCIX Fidelity Advisor SmallPairCorr
  0.61FSCRX Fidelity Small CapPairCorr
  0.83FSDAX Defense And Aerospace Steady GrowthPairCorr
  0.93FSELX Fidelity Select SemiPairCorr
  0.64FSENX Fidelity Select Port Steady GrowthPairCorr
  0.98FARVX Fidelity Income ReplPairCorr
  0.97FARFX Fidelity Income ReplPairCorr

Moving against Fidelity Mutual Fund

  0.83FARMX Strategic AdvisersPairCorr

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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