Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2035
FWTKX Fund  USD 16.78  0.01  0.06%   
The current 90-days correlation between Fidelity Freedom 2035 and Prudential High Yield is 0.14 (i.e., Average 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

Significant diversification

The correlation between Fidelity Freedom 2035 and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2035 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 2035. 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 industry.

Moving together with Fidelity Mutual Fund

  0.66FPTKX Fidelity Freedom 2015PairCorr
  0.69FPURX Fidelity PuritanPairCorr
  0.69FPUKX Fidelity PuritanPairCorr
  0.65FQIFX Fidelity Freedom IndexPairCorr
  0.65FQIPX Fidelity Freedom IndexPairCorr
  0.65FRBDX Fidelity Freedom 2070PairCorr
  0.65FRBJX Fidelity Advisor FreedomPairCorr
  0.65FRBKX Fidelity Advisor FreedomPairCorr
  0.65FRBPX Fidelity Advisor FreedomPairCorr
  0.66FRBQX Fidelity Flex FreedomPairCorr
  0.65FRBUX Fidelity Freedom IndexPairCorr
  0.66FRAGX Aggressive GrowthPairCorr
  0.64FRAMX Fidelity Income ReplPairCorr
  0.65FRASX Fidelity Income ReplPairCorr
  0.65FRCHX Fidelity Freedom BlendPairCorr
  0.65FRDCX Fidelity SustainablePairCorr
  0.67FRGAX Growth Allocation IndexPairCorr
  0.65FRHMX Fidelity Managed RetPairCorr
  0.65FACVX Fidelity ConvertiblePairCorr
  0.7FADTX Fidelity Advisor TecPairCorr
  0.61FAFDX Fidelity Advisor FinPairCorr
  0.61FAFCX Fidelity Advisor FinPairCorr
  0.68FAGIX Fidelity Capital IncomePairCorr
  0.71FAGCX Fidelity Advisor GrowthPairCorr
  0.71FAGAX Fidelity Advisor GrowthPairCorr
  0.68FSAKX Strategic Advisers TotalPairCorr
  0.64FSAMX Strategic AdvisersPairCorr
  0.71FAOFX Fidelity Advisor SeriesPairCorr
  0.65FSCOX Fidelity InternationalPairCorr

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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