Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FTDWX Fund  USD 13.96  0.03  0.22%   
The current 90-days correlation between Fidelity Asset Manager and Payden Government Fund is 0.09 (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

Very poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.87 (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
  0.98FPUKX Fidelity PuritanPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  0.98FQIPX Fidelity Freedom IndexPairCorr
  0.86FQITX Fidelity Salem StreetPairCorr
  0.97FQLSX 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
  0.96FRBOX Fidelity Advisor FreedomPairCorr
  0.97FRBPX Fidelity Advisor FreedomPairCorr
  0.98FRBQX Fidelity Flex FreedomPairCorr
  0.98FRBUX Fidelity Freedom IndexPairCorr
  0.98FRBVX Fidelity Freedom IndexPairCorr
  0.98FRBWX Fidelity Freedom IndexPairCorr
  0.97FRBYX Fidelity Freedom BlendPairCorr
  0.97FRBZX Fidelity Freedom BlendPairCorr
  0.98FRAGX Aggressive GrowthPairCorr
  0.99FRAMX Fidelity Income ReplPairCorr
  1.0FRASX Fidelity Income ReplPairCorr
  0.97FRCFX Fidelity Freedom BlendPairCorr
  0.97FRCHX Fidelity Freedom BlendPairCorr
  0.97FRCKX Fidelity Freedom BlendPairCorr
  0.86FRCLX Fidelity Freedom BlendPairCorr
  0.97FRCNX Fidelity Freedom BlendPairCorr
  0.85FRCPX Fidelity Freedom BlendPairCorr
  0.97FRCQX Fidelity SustainablePairCorr
  0.97FRCRX Fidelity SustainablePairCorr
  0.97FRCVX Fidelity SustainablePairCorr
  0.97FRCWX Fidelity SustainablePairCorr
  0.97FRCYX Fidelity SustainablePairCorr
  0.97FRDCX Fidelity SustainablePairCorr
  0.97FRDDX Fidelity SustainablePairCorr
  0.97FRDEX Fidelity SustainablePairCorr
  0.98FRGAX Growth Allocation IndexPairCorr
  0.79FRESX Fidelity Real EstatePairCorr

Related Correlations Analysis

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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   
AUGAX
+ 0.96
FICMX
AUGAX
+ 0.89
PYUSX
SMAAX
+ 0.82
SIGVX
FICMX
+ 0.81
PYUSX
SIGVX
+ 0.79
PYUSX
SMAAX
+ 0.7
PYUSX
  
High negative correlations   
SWGXX
- 0.12
FICMX

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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