Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2060
FDKVX Fund  USD 14.97  0.16  1.08%   
The current 90-days correlation between Fidelity Freedom 2060 and Fidelity Freedom 2055 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

Poor diversification

The correlation between Fidelity Freedom 2060 and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2060 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 2060. 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 real.

Moving together with Fidelity Mutual Fund

  0.77FPTKX Fidelity Freedom 2015PairCorr
  0.63FPURX Fidelity PuritanPairCorr
  0.9FQIFX Fidelity Freedom IndexPairCorr
  0.63FQITX Fidelity Salem StreetPairCorr
  0.87FRBDX Fidelity Freedom 2070PairCorr
  0.87FRBHX Fidelity Freedom 2070PairCorr
  0.85FRBUX Fidelity Freedom IndexPairCorr
  0.86FRBYX Fidelity Freedom BlendPairCorr
  0.96FRAGX Aggressive GrowthPairCorr
  0.86FRCLX Fidelity Freedom BlendPairCorr
  0.98FRGAX Growth Allocation IndexPairCorr
  0.99FRLPX Fidelity Freedom IndexPairCorr
  0.76FAASX Fidelity Asset ManagerPairCorr
  0.77FAAIX Fidelity Asset ManagerPairCorr
  0.73FADMX Fidelity Advisor StrPairCorr
  0.82FAFSX Fidelity Advisor FinPairCorr
  0.99FAFFX Fidelity Advisor FreedomPairCorr
  0.94FAFEX Fidelity Advisor FreedomPairCorr
  0.81FAFCX Fidelity Advisor FinPairCorr
  0.79FAGIX Fidelity Capital IncomePairCorr
  0.8FAHYX Fidelity Advisor HighPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FFFHX
+ 1.0
FDEEX
FFFGX
+ 1.0
FDEEX
FFFGX
+ 1.0
FFFHX
FFSFX
+ 0.86
FDEEX
FFSFX
+ 0.86
FFFHX
FFFGX
+ 0.86
FFSFX
  
High negative correlations   
FFFVX
- 0.0
FFFGX
FFFVX
- 0.0
FFSFX
FFFVX
- 0.0
FFFHX
FFFVX
- 0.0
FDEEX

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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