Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FAMRX Fund  USD 26.83  0.28  1.05%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Asset Manager is 0.99 (i.e., No risk reduction). 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 metropolitan statistical area.

Moving together with Fidelity Mutual Fund

  0.83FPURX Fidelity PuritanPairCorr
  0.83FPUKX Fidelity PuritanPairCorr
  0.76FQIFX Fidelity Freedom IndexPairCorr
  0.85FQIPX Fidelity Freedom IndexPairCorr
  0.94FQLSX Fidelity Flex FreedomPairCorr
  0.74FRBDX Fidelity Freedom 2070PairCorr
  0.73FRBEX Fidelity Freedom 2070PairCorr
  0.73FRBHX Fidelity Freedom 2070PairCorr
  0.73FRBJX Fidelity Advisor FreedomPairCorr
  0.73FRBKX Fidelity Advisor FreedomPairCorr
  0.74FRBLX Fidelity Advisor FreedomPairCorr
  0.73FRBOX Fidelity Advisor FreedomPairCorr
  0.72FRBPX Fidelity Advisor FreedomPairCorr
  0.88FRBQX Fidelity Flex FreedomPairCorr
  0.73FRBUX Fidelity Freedom IndexPairCorr
  0.72FRBVX Fidelity Freedom IndexPairCorr
  0.72FRBWX Fidelity Freedom IndexPairCorr
  0.77FRBYX Fidelity Freedom BlendPairCorr
  0.76FRBZX Fidelity Freedom BlendPairCorr
  0.92FRAGX Aggressive GrowthPairCorr
  0.76FRCFX Fidelity Freedom BlendPairCorr
  0.78FRCKX Fidelity Freedom BlendPairCorr
  0.77FRCLX Fidelity Freedom BlendPairCorr
  0.76FRCNX Fidelity Freedom BlendPairCorr
  0.76FRCPX Fidelity Freedom BlendPairCorr
  0.77FRCQX Fidelity SustainablePairCorr
  0.77FRCRX Fidelity SustainablePairCorr
  0.77FRCVX Fidelity SustainablePairCorr
  0.77FRCWX Fidelity SustainablePairCorr
  0.78FRCYX Fidelity SustainablePairCorr
  0.79FRDCX Fidelity SustainablePairCorr
  0.88FRDEX Fidelity SustainablePairCorr
  0.89FRGAX 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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