Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FTCWX Fund  USD 13.80  0.05  0.36%   
The current 90-days correlation between Fidelity Asset Manager and Franklin Emerging Market is 0.38 (i.e., Weak 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

Very poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.86 (i.e., Very 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 housing.

Moving together with Fidelity Mutual Fund

  1.0FPTKX Fidelity Freedom 2015PairCorr
  0.98FPURX Fidelity PuritanPairCorr
  0.83FPUKX Fidelity PuritanPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  0.98FQIPX Fidelity Freedom IndexPairCorr
  0.76FQITX Fidelity Salem StreetPairCorr
  0.98FQLSX Fidelity Flex FreedomPairCorr
  0.96FRBDX Fidelity Freedom 2070PairCorr
  0.64FRBEX Fidelity Freedom 2070PairCorr
  0.63FRBHX Fidelity Freedom 2070PairCorr
  0.75FRBJX Fidelity Advisor FreedomPairCorr
  0.96FRBKX Fidelity Advisor FreedomPairCorr
  0.75FRBLX Fidelity Advisor FreedomPairCorr
  0.64FRBOX Fidelity Advisor FreedomPairCorr
  0.96FRBPX Fidelity Advisor FreedomPairCorr
  0.63FRBQX Fidelity Flex FreedomPairCorr
  0.75FRBUX Fidelity Freedom IndexPairCorr
  0.75FRBVX Fidelity Freedom IndexPairCorr
  0.96FRBWX Fidelity Freedom IndexPairCorr
  0.75FRBYX Fidelity Freedom BlendPairCorr
  0.96FRBZX Fidelity Freedom BlendPairCorr
  0.98FRAGX Aggressive GrowthPairCorr
  0.75FRAMX Fidelity Income ReplPairCorr
  0.77FRASX Fidelity Income ReplPairCorr
  0.96FRCFX Fidelity Freedom BlendPairCorr
  0.75FRCHX Fidelity Freedom BlendPairCorr
  0.63FRCKX Fidelity Freedom BlendPairCorr
  0.76FRCLX Fidelity Freedom BlendPairCorr
  0.63FRCNX Fidelity Freedom BlendPairCorr
  0.75FRCPX Fidelity Freedom BlendPairCorr
  0.76FRCQX Fidelity SustainablePairCorr
  0.76FRCRX Fidelity SustainablePairCorr
  0.75FRCVX Fidelity SustainablePairCorr
  0.64FRCWX Fidelity SustainablePairCorr
  0.75FRCYX Fidelity SustainablePairCorr
  0.64FRDCX Fidelity SustainablePairCorr
  0.76FRDDX Fidelity SustainablePairCorr
  0.64FRDEX Fidelity SustainablePairCorr
  0.75FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis

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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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