Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FASIX Fund  USD 14.41  0.05  0.35%   
The current 90-days correlation between Fidelity Asset Manager and PIMCO Active Bond is 0.35 (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 0.75 (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 gross domestic product.

Moving together with Fidelity Mutual Fund

  0.98FPTKX Fidelity Freedom 2015PairCorr
  0.92FPURX Fidelity PuritanPairCorr
  0.92FPUKX Fidelity PuritanPairCorr
  0.77FPXTX Fidelity PennsylvaniaPairCorr
  0.97FQIFX Fidelity Freedom IndexPairCorr
  0.93FQIPX Fidelity Freedom IndexPairCorr
  0.91FQLSX Fidelity Flex FreedomPairCorr
  0.9FRBDX Fidelity Freedom 2070PairCorr
  0.9FRBEX Fidelity Freedom 2070PairCorr
  0.9FRBHX Fidelity Freedom 2070PairCorr
  0.85FRBJX Fidelity Advisor FreedomPairCorr
  0.85FRBKX Fidelity Advisor FreedomPairCorr
  0.83FRBLX Fidelity Advisor FreedomPairCorr
  0.86FRBOX Fidelity Advisor FreedomPairCorr
  0.86FRBPX Fidelity Advisor FreedomPairCorr
  0.9FRBQX Fidelity Flex FreedomPairCorr
  0.93FRBUX Fidelity Freedom IndexPairCorr
  0.93FRBVX Fidelity Freedom IndexPairCorr
  0.93FRBWX Fidelity Freedom IndexPairCorr
  0.9FRBYX Fidelity Freedom BlendPairCorr
  0.89FRBZX Fidelity Freedom BlendPairCorr
  0.93FRAGX Aggressive GrowthPairCorr
  0.89FRAMX Fidelity Income ReplPairCorr
  0.97FRASX Fidelity Income ReplPairCorr
  0.9FRCFX Fidelity Freedom BlendPairCorr
  0.9FRCHX Fidelity Freedom BlendPairCorr
  0.89FRCKX Fidelity Freedom BlendPairCorr
  0.85FRCLX Fidelity Freedom BlendPairCorr
  0.87FRCNX Fidelity Freedom BlendPairCorr
  0.9FRCPX Fidelity Freedom BlendPairCorr
  0.91FRCQX Fidelity SustainablePairCorr
  0.91FRCRX Fidelity SustainablePairCorr
  0.91FRCVX Fidelity SustainablePairCorr
  0.91FRCWX Fidelity SustainablePairCorr
  0.9FRCYX Fidelity SustainablePairCorr
  0.9FRDCX Fidelity SustainablePairCorr
  0.91FRDDX Fidelity SustainablePairCorr
  0.91FRDEX Fidelity SustainablePairCorr
  0.95FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


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

FASMX
+ 1.0
FFANX
FFVFX
+ 0.99
FFANX
FFVFX
+ 0.98
FASMX
VCRB
+ 0.96
BOND
FASMX
+ 0.96
QQQI
FFANX
+ 0.95
QQQI
  

High negative correlations

FIFGX
- 0.6
BTC
BTC
- 0.57
BOND
VCRB
- 0.45
BTC
FFANX
- 0.41
BTC
FASMX
- 0.37
BTC
FFVFX
- 0.34
BTC

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
BOND  0.16  0.00 (0.32)(0.01) 0.18 
(0.17)
 0.29 
(0.29)
 0.95 
BTC  2.36 (0.43) 0.00 (0.23) 0.00 
 0.00 
 4.16 
(3.78)
 11.17 
FIFGX  0.75  0.02 (0.03) 0.21  0.92 
(0.75)
 1.33 
(1.35)
 3.67 
QQQI  0.63  0.00 (0.01) 0.07  0.97 
(0.62)
 1.13 
(1.63)
 4.30 
FFANX  0.26 (0.01)(0.12) 0.05  0.32 
(0.27)
 0.57 
(0.63)
 1.55 
FASMX  0.32 (0.01)(0.09) 0.05  0.42 
(0.34)
 0.66 
(0.74)
 1.98 
FFVFX  0.22 (0.01)(0.17) 0.03  0.24 
(0.25)
 0.48 
(0.48)
 1.28 
VCRB  0.15 (0.01)(0.40)(0.14) 0.17 
(0.16)
 0.30 
(0.26)
 0.87 
FDCAX  0.81 (0.14) 0.00 (0.05) 0.00 
 0.00 
 1.35 
(1.82)
 4.12 
EQPGX  0.75 (0.06)(0.05) 0.00  1.16 
(0.72)
 1.56 
(2.11)
 4.66 

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