Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Index
FTYPX Fund  USD 23.66  0.01  0.04%   
The current 90-days correlation between Fidelity Freedom Index and Franklin Growth Opportunities is 0.81 (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

Very poor diversification

The correlation between Fidelity Freedom Index 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 Index 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 Index. 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 american community survey.

Moving together with Fidelity Mutual Fund

  0.84FPTKX Fidelity Freedom 2015PairCorr
  0.84FPURX Fidelity PuritanPairCorr
  0.84FPUKX Fidelity PuritanPairCorr
  0.83FQIFX Fidelity Freedom IndexPairCorr
  1.0FQIPX Fidelity Freedom IndexPairCorr
  0.64FQITX Fidelity Salem StreetPairCorr
  0.85FQLSX Fidelity Flex FreedomPairCorr
  0.85FRBDX Fidelity Freedom 2070PairCorr
  0.85FRBEX Fidelity Freedom 2070PairCorr
  0.85FRBHX Fidelity Freedom 2070PairCorr
  0.85FRBJX Fidelity Advisor FreedomPairCorr
  0.85FRBKX Fidelity Advisor FreedomPairCorr
  0.85FRBLX Fidelity Advisor FreedomPairCorr
  0.73FRBPX Fidelity Advisor FreedomPairCorr
  0.73FRBQX Fidelity Flex FreedomPairCorr
  0.84FRBUX Fidelity Freedom IndexPairCorr
  0.72FRBVX Fidelity Freedom IndexPairCorr
  0.84FRBWX Fidelity Freedom IndexPairCorr
  0.85FRBYX Fidelity Freedom BlendPairCorr
  0.85FRBZX Fidelity Freedom BlendPairCorr
  0.85FRAGX Aggressive GrowthPairCorr
  0.96FRAMX Fidelity Income ReplPairCorr
  0.7FRASX Fidelity Income ReplPairCorr
  0.73FRCHX Fidelity Freedom BlendPairCorr
  0.85FRCLX Fidelity Freedom BlendPairCorr
  0.85FRCPX Fidelity Freedom BlendPairCorr
  1.0FRCQX Fidelity SustainablePairCorr
  0.84FRCRX Fidelity SustainablePairCorr
  0.72FRCVX Fidelity SustainablePairCorr
  0.84FRCWX Fidelity SustainablePairCorr
  0.84FRCYX Fidelity SustainablePairCorr
  0.72FRDCX Fidelity SustainablePairCorr
  0.72FRDDX Fidelity SustainablePairCorr
  0.84FRDEX Fidelity SustainablePairCorr
  0.85FRGAX 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 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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