Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Blend
FRCFX Fund   12.35  0.02  0.16%   
The current 90-days correlation between Fidelity Freedom Blend and Fidelity Freedom 2015 is 0.91 (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

Very poor diversification

The correlation between Fidelity Freedom Blend and DJI is 0.83 (i.e., Very poor 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 price.

Moving together with Fidelity Mutual Fund

  0.96FPTKX Fidelity Freedom 2015PairCorr
  0.77FPURX Fidelity PuritanPairCorr
  0.77FPUKX Fidelity PuritanPairCorr
  0.67FPXTX Fidelity PennsylvaniaPairCorr
  0.97FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  1.0FQLSX Fidelity Flex FreedomPairCorr
  0.88FRBDX Fidelity Freedom 2070PairCorr
  0.88FRBEX Fidelity Freedom 2070PairCorr
  0.88FRBHX Fidelity Freedom 2070PairCorr
  0.87FRBJX Fidelity Advisor FreedomPairCorr
  0.75FRBKX Fidelity Advisor FreedomPairCorr
  0.86FRBLX Fidelity Advisor FreedomPairCorr
  0.87FRBOX Fidelity Advisor FreedomPairCorr
  0.76FRBPX Fidelity Advisor FreedomPairCorr
  0.88FRBQX Fidelity Flex FreedomPairCorr
  0.88FRBUX Fidelity Freedom IndexPairCorr
  0.78FRBVX Fidelity Freedom IndexPairCorr
  0.78FRBWX Fidelity Freedom IndexPairCorr
  0.78FRBYX Fidelity Freedom BlendPairCorr
  0.88FRBZX Fidelity Freedom BlendPairCorr
  0.99FRAGX Aggressive GrowthPairCorr
  0.82FRAMX Fidelity Income ReplPairCorr
  0.94FRASX Fidelity Income ReplPairCorr
  0.88FRCHX Fidelity Freedom BlendPairCorr
  0.78FRCKX Fidelity Freedom BlendPairCorr
  0.98FRCLX Fidelity Freedom BlendPairCorr
  0.77FRCNX Fidelity Freedom BlendPairCorr
  0.88FRCPX Fidelity Freedom BlendPairCorr
  0.88FRCQX Fidelity SustainablePairCorr
  1.0FRCRX Fidelity SustainablePairCorr
  0.88FRCVX Fidelity SustainablePairCorr
  0.78FRCWX Fidelity SustainablePairCorr
  0.88FRCYX Fidelity SustainablePairCorr
  0.88FRDCX Fidelity SustainablePairCorr
  0.78FRDDX Fidelity SustainablePairCorr
  0.88FRDEX Fidelity SustainablePairCorr
  0.99FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


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  0.21  0.01 (0.10) 0.11  0.17 
(0.26)
 0.48 
(0.48)
 1.37 
FPURX  0.41  0.08  0.07  0.28  0.37 
(0.45)
 1.27 
(0.94)
 3.31 
FPUKX  0.41  0.08  0.07  0.28  0.36 
(0.46)
 1.31 
(0.90)
 3.27 
FPXTX  0.11  0.04 (0.25)(1.95) 0.00 
(0.17)
 0.29 
(0.19)
 0.78 
FQIFX  0.28  0.02 (0.05) 0.10  0.27 
(0.29)
 0.63 
(0.62)
 1.72 
FQIPX  0.47  0.02  0.01  0.10  0.68 
(0.46)
 1.00 
(1.12)
 3.18 
FQITX  0.68  0.04 (0.02) 0.36  0.88 
(0.68)
 1.08 
(1.50)
 3.07 
FQLSX  0.49  0.02  0.01  0.09  0.68 
(0.49)
 1.02 
(1.17)
 3.31 
FRBDX  0.51  0.08  0.02  0.87  0.72 
(0.50)
 1.01 
(1.21)
 3.31 
FRBEX  0.51  0.08  0.02  0.93  0.72 
(0.51)
 1.06 
(1.21)
 3.30 

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