Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FASMX Fund  USD 20.76  0.10  0.48%   
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 0.68 (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 population.

Moving together with Fidelity Mutual Fund

  0.67FPTKX Fidelity Freedom 2015PairCorr
  0.67FPURX Fidelity PuritanPairCorr
  0.68FPUKX Fidelity PuritanPairCorr
  0.89FQIFX Fidelity Freedom IndexPairCorr
  0.88FQIPX Fidelity Freedom IndexPairCorr
  0.96FQLSX Fidelity Flex FreedomPairCorr
  0.77FRBDX Fidelity Freedom 2070PairCorr
  0.77FRBHX Fidelity Freedom 2070PairCorr
  0.78FRBLX Fidelity Advisor FreedomPairCorr
  0.78FRBOX Fidelity Advisor FreedomPairCorr
  0.78FRBPX Fidelity Advisor FreedomPairCorr
  0.77FRBUX Fidelity Freedom IndexPairCorr
  0.8FRBYX Fidelity Freedom BlendPairCorr
  0.89FRAGX Aggressive GrowthPairCorr
  0.8FRCFX Fidelity Freedom BlendPairCorr
  0.8FRCLX Fidelity Freedom BlendPairCorr
  0.79FRCWX Fidelity SustainablePairCorr
  0.79FRDCX Fidelity SustainablePairCorr
  0.89FRGAX Growth Allocation IndexPairCorr
  0.61FRESX Fidelity Real EstatePairCorr
  0.88FRLPX Fidelity Freedom IndexPairCorr
  0.96FAASX Fidelity Asset ManagerPairCorr
  0.96FAAIX Fidelity Asset ManagerPairCorr
  0.65FACVX Fidelity ConvertiblePairCorr

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 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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