Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FEYIX Fund  USD 26.74  0.29  1.10%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Asset Manager is 1.0 (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 gross domestic product.

Moving together with Fidelity Mutual Fund

  0.83FPURX Fidelity PuritanPairCorr
  0.76FQIFX Fidelity Freedom IndexPairCorr
  0.77FQIPX Fidelity Freedom IndexPairCorr
  0.79FQLSX Fidelity Flex FreedomPairCorr
  0.73FRBDX Fidelity Freedom 2070PairCorr
  0.84FRBEX Fidelity Freedom 2070PairCorr
  0.73FRBHX Fidelity Freedom 2070PairCorr
  0.85FRBJX Fidelity Advisor FreedomPairCorr
  0.83FRBKX Fidelity Advisor FreedomPairCorr
  0.84FRBLX Fidelity Advisor FreedomPairCorr
  0.84FRBOX Fidelity Advisor FreedomPairCorr
  0.83FRBPX Fidelity Advisor FreedomPairCorr
  0.77FRBQX Fidelity Flex FreedomPairCorr
  0.73FRBUX Fidelity Freedom IndexPairCorr
  0.82FRBVX Fidelity Freedom IndexPairCorr
  0.82FRBWX Fidelity Freedom IndexPairCorr
  0.77FRBYX Fidelity Freedom BlendPairCorr
  0.84FRBZX Fidelity Freedom BlendPairCorr
  0.92FRAGX Aggressive GrowthPairCorr
  0.84FRCFX Fidelity Freedom BlendPairCorr
  0.84FRCKX Fidelity Freedom BlendPairCorr
  0.77FRCLX Fidelity Freedom BlendPairCorr
  0.84FRCNX Fidelity Freedom BlendPairCorr
  0.85FRCPX Fidelity Freedom BlendPairCorr
  0.84FRCQX Fidelity SustainablePairCorr
  0.83FRCRX Fidelity SustainablePairCorr
  0.83FRCVX Fidelity SustainablePairCorr
  0.83FRCWX Fidelity SustainablePairCorr
  0.77FRCYX Fidelity SustainablePairCorr
  0.84FRDCX Fidelity SustainablePairCorr
  0.83FRDEX Fidelity SustainablePairCorr
  0.89FRGAX Growth Allocation IndexPairCorr

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   
FEYTX
+ 1.0
FEYCX
FEYAX
+ 1.0
FEYCX
FEYAX
+ 1.0
FEYTX
FAAIX
+ 0.98
FEYCX
FAAIX
+ 0.98
FEYTX
FAAIX
+ 0.98
FEYAX
  
High negative correlations   
FAAIX
- 0.0
FAIOX
FAIOX
- 0.0
FEYAX
FAIOX
- 0.0
FEYTX
FAIOX
- 0.0
FEYCX

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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