Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Index
FDKLX Fund  USD 18.78  0.04  0.21%   
The current 90-days correlation between Fidelity Freedom Index and Fidelity Freedom Index is 1.0 (i.e., No risk reduction). 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 weak diversification

The correlation between Fidelity Freedom Index and DJI is 0.54 (i.e., Very weak 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 bureau of economic analysis.

Moving together with Fidelity Mutual Fund

  0.95FPTKX Fidelity Freedom 2015PairCorr
  0.77FPURX Fidelity PuritanPairCorr
  0.67FPUKX Fidelity PuritanPairCorr
  0.92FQIFX Fidelity Freedom IndexPairCorr
  1.0FQIPX Fidelity Freedom IndexPairCorr
  0.95FQITX Fidelity Salem StreetPairCorr
  0.93FQLSX Fidelity Flex FreedomPairCorr
  0.99FRAGX Aggressive GrowthPairCorr
  0.94FRAMX Fidelity Income ReplPairCorr
  0.96FRASX Fidelity Income ReplPairCorr
  1.0FRGAX Growth Allocation IndexPairCorr
  0.71FRESX Fidelity Real EstatePairCorr
  0.89FRIFX Fidelity Real EstatePairCorr
  0.88FRIMX Fidelity Income ReplPairCorr
  0.89FRINX Fidelity Real EstatePairCorr
  0.82FRIOX Fidelity Real EstatePairCorr
  0.88FRIQX Fidelity Real EstatePairCorr
  0.94FRHMX Fidelity Managed RetPairCorr
  0.88FRKMX Fidelity Managed RetPairCorr
  0.89FRIRX Fidelity Real EstatePairCorr
  0.91FRLPX Fidelity Freedom IndexPairCorr
  0.88FRQHX Fidelity Managed RetPairCorr
  0.94FRQIX Fidelity Income ReplPairCorr
  0.88FRQKX Fidelity Managed RetPairCorr
  0.64FRPDX Fidelity Sai AlternativePairCorr
  0.94FRQAX Fidelity Income ReplPairCorr
  0.61FACNX Fidelity CanadaPairCorr
  0.89FACFX Fidelity Advisor FreedomPairCorr
  0.84FADMX Fidelity Advisor StrPairCorr

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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