Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2030
FSNQX Fund  USD 18.78  0.05  0.27%   
The current 90-days correlation between Fidelity Freedom 2030 and Omni Small Cap Value is 0.87 (i.e., Very poor 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

Almost no diversification

The correlation between Fidelity Freedom 2030 and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2030 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 2030. 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 producer price index.

Moving together with Fidelity Mutual Fund

  1.0FPTKX Fidelity Freedom 2015PairCorr
  0.99FPURX Fidelity PuritanPairCorr
  0.99FPUKX Fidelity PuritanPairCorr
  1.0FQIFX Fidelity Freedom IndexPairCorr
  1.0FQIPX Fidelity Freedom IndexPairCorr
  0.92FQITX Fidelity Salem StreetPairCorr
  1.0FQLSX Fidelity Flex FreedomPairCorr
  0.97FRBDX Fidelity Freedom 2070PairCorr
  0.97FRBHX Fidelity Freedom 2070PairCorr
  0.97FRBJX Fidelity Advisor FreedomPairCorr
  0.97FRBKX Fidelity Advisor FreedomPairCorr
  0.97FRBLX Fidelity Advisor FreedomPairCorr
  0.97FRBOX Fidelity Advisor FreedomPairCorr
  0.97FRBPX Fidelity Advisor FreedomPairCorr
  0.97FRBQX Fidelity Flex FreedomPairCorr
  0.97FRBUX Fidelity Freedom IndexPairCorr
  0.97FRBVX Fidelity Freedom IndexPairCorr
  0.97FRBWX Fidelity Freedom IndexPairCorr
  0.97FRBYX Fidelity Freedom BlendPairCorr
  0.97FRBZX Fidelity Freedom BlendPairCorr
  1.0FRAGX Aggressive GrowthPairCorr
  0.92FRAMX Fidelity Income ReplPairCorr
  0.99FRASX Fidelity Income ReplPairCorr
  0.97FRCHX Fidelity Freedom BlendPairCorr
  0.97FRCKX Fidelity Freedom BlendPairCorr
  0.97FRCLX Fidelity Freedom BlendPairCorr
  0.97FRCNX Fidelity Freedom BlendPairCorr
  0.97FRCPX Fidelity Freedom BlendPairCorr
  0.97FRCQX Fidelity SustainablePairCorr
  0.97FRCRX Fidelity SustainablePairCorr
  0.97FRCVX Fidelity SustainablePairCorr
  0.97FRCWX Fidelity SustainablePairCorr
  0.97FRCYX Fidelity SustainablePairCorr
  0.96FRDCX Fidelity SustainablePairCorr
  0.97FRDDX Fidelity SustainablePairCorr
  0.97FRDEX Fidelity SustainablePairCorr
  1.0FRGAX Growth Allocation IndexPairCorr
  0.8FRESX Fidelity Real EstatePairCorr
  0.91FRIFX Fidelity Real EstatePairCorr

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.

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