Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2020
FFFDX Fund  USD 14.76  0.04  0.27%   
The current 90-days correlation between Fidelity Freedom 2020 and Fidelity Freedom 2010 is 0.93 (i.e., Almost no diversification). 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 2020 and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2020 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 2020. 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 unemployment.

Moving together with Fidelity Mutual Fund

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.69FPXTX Fidelity PennsylvaniaPairCorr
  0.99FQIFX Fidelity Freedom IndexPairCorr
  0.86FQIPX Fidelity Freedom IndexPairCorr
  0.84FQITX Fidelity Salem StreetPairCorr
  0.86FQLSX Fidelity Flex FreedomPairCorr
  0.84FRBDX Fidelity Freedom 2070PairCorr
  0.84FRBEX Fidelity Freedom 2070PairCorr
  0.85FRBHX Fidelity Freedom 2070PairCorr
  0.87FRBKX Fidelity Advisor FreedomPairCorr
  0.86FRBLX Fidelity Advisor FreedomPairCorr
  0.88FRBOX Fidelity Advisor FreedomPairCorr
  0.88FRBPX Fidelity Advisor FreedomPairCorr
  0.85FRBUX Fidelity Freedom IndexPairCorr
  0.86FRBWX Fidelity Freedom IndexPairCorr
  0.85FRBYX Fidelity Freedom BlendPairCorr
  0.72FRAGX Aggressive GrowthPairCorr
  0.85FRAMX Fidelity Income ReplPairCorr
  0.9FRASX Fidelity Income ReplPairCorr
  0.85FRCFX Fidelity Freedom BlendPairCorr
  0.83FRCKX Fidelity Freedom BlendPairCorr
  0.85FRCLX Fidelity Freedom BlendPairCorr
  0.8FRCWX Fidelity SustainablePairCorr
  0.78FRDCX Fidelity SustainablePairCorr
  0.8FRGAX Growth Allocation IndexPairCorr
  0.86FRESX Fidelity Real EstatePairCorr
  0.7FRIFX Fidelity Real EstatePairCorr
  0.84FRIMX Fidelity Income ReplPairCorr
  0.7FRINX Fidelity Real EstatePairCorr
  0.72FRIOX Fidelity Real EstatePairCorr
  0.7FRIQX Fidelity Real EstatePairCorr
  0.84FRHMX Fidelity Managed RetPairCorr
  0.84FRKMX Fidelity Managed RetPairCorr
  0.7FRIRX Fidelity Real EstatePairCorr
  0.86FRLPX Fidelity Freedom IndexPairCorr
  0.66FROGX Fidelity Municipal IncomePairCorr
  0.84FRQHX Fidelity Managed RetPairCorr
  0.85FRQIX Fidelity Income ReplPairCorr

Related Correlations Analysis

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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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