Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Blend
FHARX Fund  USD 13.64  0.04  0.29%   
The current 90-days correlation between Fidelity Freedom Blend and Fidelity Freedom 2015 is 0.09 (i.e., Significant diversification). The correlation of Fidelity Freedom 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 Freedom Correlation With Market

Good diversification

The correlation between Fidelity Freedom Blend and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom Blend 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 Freedom Blend. 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 metropolitan statistical area.

Moving together with Fidelity Mutual Fund

  0.7FPTKX Fidelity Freedom 2015PairCorr
  0.72FPURX Fidelity PuritanPairCorr
  0.72FPUKX Fidelity PuritanPairCorr
  0.71FQIFX Fidelity Freedom IndexPairCorr
  0.72FQIPX Fidelity Freedom IndexPairCorr
  0.69FQITX Fidelity Salem StreetPairCorr
  0.73FQLSX Fidelity Flex FreedomPairCorr
  0.65FRBDX Fidelity Freedom 2070PairCorr
  0.65FRBJX Fidelity Advisor FreedomPairCorr
  0.64FRBLX Fidelity Advisor FreedomPairCorr
  1.0FRBOX Fidelity Advisor FreedomPairCorr
  0.63FRBQX Fidelity Flex FreedomPairCorr
  1.0FRBVX Fidelity Freedom IndexPairCorr
  0.63FRBZX Fidelity Freedom BlendPairCorr
  0.72FRAGX Aggressive GrowthPairCorr
  0.63FRAMX Fidelity Income ReplPairCorr
  1.0FRCFX Fidelity Freedom BlendPairCorr
  1.0FRCKX Fidelity Freedom BlendPairCorr
  1.0FRCNX Fidelity Freedom BlendPairCorr
  0.63FRCPX Fidelity Freedom BlendPairCorr
  0.64FRCQX Fidelity SustainablePairCorr
  0.64FRCVX Fidelity SustainablePairCorr
  0.64FRCYX Fidelity SustainablePairCorr
  0.72FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Freedom 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 Freedom'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
FPTKX  0.23  0.10 (0.09)(18.14) 0.00 
(0.28)
 0.54 
(0.50)
 1.67 
FPURX  0.36  0.18  0.09  5.20  0.00 
(0.42)
 1.05 
(0.43)
 2.85 
FPUKX  0.36  0.18  0.09  6.55  0.00 
(0.43)
 1.05 
(0.43)
 2.90 
FPXTX  0.11  0.00 (0.80) 0.39  0.00 
(0.18)
 0.30 
(0.20)
 0.89 
FQIFX  0.28  0.13  0.00  40.52  0.00 
(0.35)
 0.83 
(0.50)
 2.14 
FQIPX  0.42  0.21  0.14  11.95  0.00 
(0.54)
 1.42 
(0.83)
 3.29 
FQITX  0.53  0.09 (0.06)(4.03) 0.65 
(0.56)
 1.24 
(1.14)
 3.58 
FQLSX  0.42  0.22  0.15  7.65  0.00 
(0.55)
 1.42 
(0.80)
 3.33 
FRBDX  0.44  0.17  0.16  0.48  0.00 
(0.59)
 1.49 
(0.79)
 3.27 
FRBEX  0.42  0.16  0.14  0.49  0.00 
(0.54)
 1.40 
(0.79)
 3.18 

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