Fidelity Freedom Correlations

FQIFX Fund

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The current 90-days correlation between Fidelity Freedom Index and American Funds 2020 is 0.12 (i.e., Average 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

Average diversification

The correlation between Fidelity Freedom Index and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom Index 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 Index. 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 price.

Moving together with Fidelity Mutual Fund

0.99	FPTKX	Fidelity Freedom 2015	Pair Corr
0.69	FPURX	Fidelity Puritan	Pair Corr
0.84	FPUKX	Fidelity Puritan	Pair Corr
0.64	FPXTX	Fidelity Pennsylvania	Pair Corr
0.98	FQIPX	Fidelity Freedom Index	Pair Corr
0.64	FQITX	Fidelity Salem Street	Pair Corr
0.82	FQLSX	Fidelity Flex Freedom	Pair Corr
0.82	FRBDX	Fidelity Freedom 2070	Pair Corr
0.81	FRBEX	Fidelity Freedom 2070	Pair Corr
0.78	FRBJX	Fidelity Advisor Freedom	Pair Corr
0.92	FRBLX	Fidelity Advisor Freedom	Pair Corr
0.79	FRBOX	Fidelity Advisor Freedom	Pair Corr
0.82	FRBQX	Fidelity Flex Freedom	Pair Corr
0.84	FRBVX	Fidelity Freedom Index	Pair Corr
0.84	FRBWX	Fidelity Freedom Index	Pair Corr
0.82	FRBYX	Fidelity Freedom Blend	Pair Corr
0.82	FRBZX	Fidelity Freedom Blend	Pair Corr
0.84	FRAGX	Aggressive Growth	Pair Corr
0.9	FRAMX	Fidelity Income Repl	Pair Corr
0.99	FRASX	Fidelity Income Repl	Pair Corr
0.82	FRCFX	Fidelity Freedom Blend	Pair Corr
0.82	FRCHX	Fidelity Freedom Blend	Pair Corr
0.8	FRCNX	Fidelity Freedom Blend	Pair Corr
0.82	FRCPX	Fidelity Freedom Blend	Pair Corr
0.82	FRCQX	Fidelity Sustainable	Pair Corr
0.83	FRCRX	Fidelity Sustainable	Pair Corr
0.83	FRCVX	Fidelity Sustainable	Pair Corr
0.82	FRCWX	Fidelity Sustainable	Pair Corr
0.82	FRCYX	Fidelity Sustainable	Pair Corr
0.83	FRDEX	Fidelity Sustainable	Pair Corr
0.86	FRGAX	Growth Allocation Index	Pair Corr
0.7	FRIFX	Fidelity Real Estate	Pair Corr
0.97	FRIMX	Fidelity Income Repl	Pair Corr
0.69	FRINX	Fidelity Real Estate	Pair Corr
0.7	FRIQX	Fidelity Real Estate	Pair Corr
0.91	FRKMX	Fidelity Managed Ret	Pair Corr
0.72	FRIRX	Fidelity Real Estate	Pair Corr

Moving against Fidelity Mutual Fund

0.51

FRPDX

Fidelity Sai Alternative

Pair Corr

Related Correlations Analysis

	FAOTX	FSRIX	RRTBX	TRIRX	SGOIX	APGCX	TRMIX	OTCKX	EGFIX	USSPX
FAOTX		0.51	0.96	0.28	0.89	0.64	0.51	-0.36	0.43	0.54	FAOTX
FSRIX	0.51		0.56	0.47	0.48	0.17	0.15	-0.34	0.69	0.73	FSRIX
RRTBX	0.96	0.56		0.37	0.85	0.67	0.55	-0.3	0.54	0.62	RRTBX
TRIRX	0.28	0.47	0.37		0.03	-0.12	0.55	0.32	0.5	0.52	TRIRX
SGOIX	0.89	0.48	0.85	0.03		0.64	0.24	-0.52	0.26	0.39	SGOIX
APGCX	0.64	0.17	0.67	-0.12	0.64		0.2	-0.43	0.21	0.21	APGCX
TRMIX	0.51	0.15	0.55	0.55	0.24	0.2		0.16	0.4	0.44	TRMIX
OTCKX	-0.36	-0.34	-0.3	0.32	-0.52	-0.43	0.16		0.0	-0.15	OTCKX
EGFIX	0.43	0.69	0.54	0.5	0.26	0.21	0.4	0.0		0.88	EGFIX
USSPX	0.54	0.73	0.62	0.52	0.39	0.21	0.44	-0.15	0.88		USSPX
	FAOTX	FSRIX	RRTBX	TRIRX	SGOIX	APGCX	TRMIX	OTCKX	EGFIX	USSPX

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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

RRTBX	+ 0.96	FAOTX
SGOIX	+ 0.89	FAOTX
USSPX	+ 0.88	EGFIX
SGOIX	+ 0.85	RRTBX
USSPX	+ 0.73	FSRIX
EGFIX	+ 0.69	FSRIX

High negative correlations

OTCKX	- 0.52	SGOIX
OTCKX	- 0.43	APGCX
OTCKX	- 0.36	FAOTX
OTCKX	- 0.34	FSRIX
OTCKX	- 0.3	RRTBX
USSPX	- 0.15	OTCKX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FAOTX	0.25	(0.01)	(0.15)	0.03	0.27	(0.30)	0.54	(0.53)	1.41
FSRIX	0.13	0.00	(0.36)	0.01	0.10	(0.17)	0.25	(0.25)	0.74
RRTBX	0.27	(0.02)	(0.12)	0.03	0.37	(0.26)	0.65	(0.55)	1.65
TRIRX	0.79	(0.04)	0.00	0.39	0.00	0.00	1.71	(2.02)	7.77
SGOIX	0.50	0.04	0.02	0.15	0.53	(0.52)	1.03	(1.02)	2.70
APGCX	0.81	0.09	0.07	0.19	0.89	(0.89)	1.87	(1.64)	12.27
TRMIX	0.75	(0.12)	0.00	(0.08)	0.00	0.00	1.68	(1.64)	6.98
OTCKX	0.98	(0.28)	0.00	1.05	0.00	0.00	1.18	(1.72)	15.06
EGFIX	0.66	0.01	(0.04)	0.13	1.01	(0.63)	1.26	(1.81)	4.37
USSPX	0.60	(0.01)	(0.05)	0.00	1.16	(0.54)	1.24	(1.58)	5.69

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