Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FTCWX Fund  USD 14.23  0.01  0.07%   
The current 90-days correlation between Fidelity Asset Manager and Gold And Precious is 0.06 (i.e., Significant diversification). The correlation of Fidelity Asset 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 Asset Correlation With Market

Poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Asset Manager 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 Asset Manager. 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 interest.

Moving together with Fidelity Mutual Fund

  0.99FPTKX Fidelity Freedom 2015PairCorr
  0.91FPURX Fidelity PuritanPairCorr
  0.91FPUKX Fidelity PuritanPairCorr
  0.84FPXTX Fidelity PennsylvaniaPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  0.95FQIPX Fidelity Freedom IndexPairCorr
  0.94FQLSX Fidelity Flex FreedomPairCorr
  0.84FRBDX Fidelity Freedom 2070PairCorr
  0.84FRBEX Fidelity Freedom 2070PairCorr
  0.84FRBHX Fidelity Freedom 2070PairCorr
  0.8FRBJX Fidelity Advisor FreedomPairCorr
  0.69FRBKX Fidelity Advisor FreedomPairCorr
  0.78FRBLX Fidelity Advisor FreedomPairCorr
  0.81FRBOX Fidelity Advisor FreedomPairCorr
  0.71FRBPX Fidelity Advisor FreedomPairCorr
  0.85FRBQX Fidelity Flex FreedomPairCorr
  0.86FRBUX Fidelity Freedom IndexPairCorr
  0.77FRBVX Fidelity Freedom IndexPairCorr
  0.77FRBWX Fidelity Freedom IndexPairCorr
  0.74FRBYX Fidelity Freedom BlendPairCorr
  0.84FRBZX Fidelity Freedom BlendPairCorr
  0.95FRAGX Aggressive GrowthPairCorr
  0.86FRAMX Fidelity Income ReplPairCorr
  0.99FRASX Fidelity Income ReplPairCorr
  0.93FRCFX Fidelity Freedom BlendPairCorr
  0.84FRCHX Fidelity Freedom BlendPairCorr
  0.74FRCKX Fidelity Freedom BlendPairCorr
  0.88FRCLX Fidelity Freedom BlendPairCorr
  0.72FRCNX Fidelity Freedom BlendPairCorr
  0.84FRCPX Fidelity Freedom BlendPairCorr
  0.85FRCQX Fidelity SustainablePairCorr
  0.94FRCRX Fidelity SustainablePairCorr
  0.85FRCVX Fidelity SustainablePairCorr
  0.75FRCWX Fidelity SustainablePairCorr
  0.84FRCYX Fidelity SustainablePairCorr
  0.84FRDCX Fidelity SustainablePairCorr
  0.75FRDDX Fidelity SustainablePairCorr
  0.85FRDEX Fidelity SustainablePairCorr
  0.96FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Asset 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 Asset'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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