Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Blend
FHDEX Fund  USD 13.02  0.01  0.08%   
The current 90-days correlation between Fidelity Freedom Blend and Fidelity Freedom 2015 is 0.96 (i.e., Almost no 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 income.

Moving together with Fidelity Mutual Fund

  0.99FPTKX Fidelity Freedom 2015PairCorr
  0.94FPURX Fidelity PuritanPairCorr
  0.94FPUKX Fidelity PuritanPairCorr
  0.95FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.86FQITX Fidelity Salem StreetPairCorr
  0.95FQLSX Fidelity Flex FreedomPairCorr
  1.0FRBDX Fidelity Freedom 2070PairCorr
  1.0FRBEX Fidelity Freedom 2070PairCorr
  1.0FRBHX Fidelity Freedom 2070PairCorr
  1.0FRBJX Fidelity Advisor FreedomPairCorr
  1.0FRBKX Fidelity Advisor FreedomPairCorr
  0.95FRBLX Fidelity Advisor FreedomPairCorr
  1.0FRBOX Fidelity Advisor FreedomPairCorr
  0.95FRBPX Fidelity Advisor FreedomPairCorr
  1.0FRBQX Fidelity Flex FreedomPairCorr
  1.0FRBUX Fidelity Freedom IndexPairCorr
  0.95FRBVX Fidelity Freedom IndexPairCorr
  1.0FRBWX Fidelity Freedom IndexPairCorr
  1.0FRBYX Fidelity Freedom BlendPairCorr
  1.0FRBZX Fidelity Freedom BlendPairCorr
  0.95FRAGX Aggressive GrowthPairCorr
  0.96FRAMX Fidelity Income ReplPairCorr
  0.95FRASX Fidelity Income ReplPairCorr
  1.0FRCFX Fidelity Freedom BlendPairCorr
  0.95FRCHX Fidelity Freedom BlendPairCorr
  1.0FRCKX Fidelity Freedom BlendPairCorr
  1.0FRCLX Fidelity Freedom BlendPairCorr
  1.0FRCNX Fidelity Freedom BlendPairCorr
  1.0FRCPX Fidelity Freedom BlendPairCorr
  1.0FRCQX Fidelity SustainablePairCorr
  1.0FRCRX Fidelity SustainablePairCorr
  1.0FRCVX Fidelity SustainablePairCorr
  1.0FRCWX Fidelity SustainablePairCorr
  0.95FRCYX Fidelity SustainablePairCorr
  1.0FRDCX Fidelity SustainablePairCorr
  0.95FRDDX Fidelity SustainablePairCorr
  1.0FRDEX Fidelity SustainablePairCorr
  0.95FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
FPUKX
+ 1.0
FPURX
FQLSX
+ 1.0
FQIPX
FRBEX
+ 1.0
FRBDX
FRBDX
+ 0.99
FPTKX
FRBEX
+ 0.99
FPTKX
FQIFX
+ 0.99
FPURX
  
High negative correlations   
FQITX
- 0.2
FPXTX
FQLSX
- 0.0
FPXTX
FQIPX
- 0.0
FPXTX

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  0.39  0.03  0.01 (0.68) 0.63 
(0.39)
 0.78 
(1.14)
 4.22 
FPURX  0.69  0.04  0.03  0.09  1.13 
(0.63)
 1.43 
(1.58)
 7.88 
FPUKX  0.69  0.04  0.03  0.09  1.17 
(0.64)
 1.43 
(1.54)
 7.80 
FPXTX  0.25 (0.03) 0.00  0.63  0.00 
 0.00 
 0.48 
(0.98)
 2.78 
FQIFX  0.52  0.03  0.02  0.09  0.87 
(0.49)
 1.11 
(1.29)
 5.82 
FQIPX  0.84  0.05  0.03  0.09  1.38 
(0.83)
 1.89 
(1.41)
 9.83 
FQITX  0.85  0.02  0.01  0.05  1.43 
(0.83)
 1.85 
(1.53)
 9.15 
FQLSX  0.86  0.06  0.03  0.09  1.45 
(0.86)
 1.91 
(1.47)
 10.31 
FRBDX  0.87  0.08  0.03 (1.06) 1.43 
(0.91)
 1.87 
(1.55)
 10.09 
FRBEX  0.86  0.08  0.03 (1.13) 1.46 
(0.88)
 1.97 
(1.55)
 10.19 

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