Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FAASX Fund  USD 31.51  0.02  0.06%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Asset Manager is 0.99 (i.e., No risk reduction). 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

Very poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.82 (i.e., Very 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 main economic indicators.

Moving together with Fidelity Mutual Fund

  0.98FPTKX Fidelity Freedom 2015PairCorr
  0.9FPURX Fidelity PuritanPairCorr
  0.9FPUKX Fidelity PuritanPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  1.0FQIPX Fidelity Freedom IndexPairCorr
  0.81FQITX Fidelity Salem StreetPairCorr
  1.0FQLSX Fidelity Flex FreedomPairCorr
  1.0FRBEX Fidelity Freedom 2070PairCorr
  1.0FRBJX Fidelity Advisor FreedomPairCorr
  1.0FRBKX Fidelity Advisor FreedomPairCorr
  1.0FRBZX Fidelity Freedom BlendPairCorr
  1.0FRGAX Growth Allocation IndexPairCorr
  0.71FRESX Fidelity Real EstatePairCorr
  0.83FRIFX Fidelity Real EstatePairCorr
  0.97FRIMX Fidelity Income ReplPairCorr
  0.79FRIOX Fidelity Real EstatePairCorr
  0.82FRIQX Fidelity Real EstatePairCorr
  0.94FROGX Fidelity Municipal IncomePairCorr
  0.97FRQIX Fidelity Income ReplPairCorr
  0.97FRQAX Fidelity Income ReplPairCorr
  1.0FAAIX Fidelity Asset ManagerPairCorr
  0.97FACVX Fidelity ConvertiblePairCorr
  0.87FACTX Fidelity Advisor HealthPairCorr
  0.74FACPX Fidelity Advisor SumerPairCorr
  0.87FACDX Fidelity Advisor HealthPairCorr
  0.95FADTX Fidelity Advisor TecPairCorr
  0.96FADMX Fidelity Advisor StrPairCorr
  0.97FAEGX Fidelity Advisor EquityPairCorr
  0.97FAGIX Fidelity Capital IncomePairCorr
  0.99FALIX Fidelity Advisor LargePairCorr
  0.99FALAX Fidelity Advisor LargePairCorr
  0.74FSAGX Gold Portfolio GoldPairCorr
  0.99FSAKX Strategic Advisers TotalPairCorr
  0.99FSAMX Strategic AdvisersPairCorr
  1.0FSANX Fidelity Asset ManagerPairCorr

Moving against Fidelity Mutual Fund

  0.38FRPCX Fidelity Sai AlternativePairCorr
  0.35FTF Franklin TempletonPairCorr
  0.73FSCHX Chemicals PortfolioPairCorr
  0.35FSCOX Fidelity InternationalPairCorr

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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