Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Index
FFOPX Fund  USD 26.17  0.47  1.83%   
The current 90-days correlation between Fidelity Freedom Index and Fidelity Freedom Index is -0.12 (i.e., Good 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

Significant diversification

The correlation between Fidelity Freedom Index and DJI is 0.08 (i.e., Significant 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 american community survey.

Moving together with Fidelity Mutual Fund

  0.79FQIPX Fidelity Freedom IndexPairCorr
  0.67FQLSX Fidelity Flex FreedomPairCorr
  0.78FRBDX Fidelity Freedom 2070PairCorr
  0.77FRBKX Fidelity Advisor FreedomPairCorr
  0.99FRBPX Fidelity Advisor FreedomPairCorr
  1.0FRBVX Fidelity Freedom IndexPairCorr
  0.97FRAGX Aggressive GrowthPairCorr
  0.65FRAMX Fidelity Income ReplPairCorr
  0.74FRASX Fidelity Income ReplPairCorr
  0.74FRCKX Fidelity Freedom BlendPairCorr
  0.99FRCNX Fidelity Freedom BlendPairCorr
  0.76FRCPX Fidelity Freedom BlendPairCorr
  0.75FRCQX Fidelity SustainablePairCorr
  0.76FRCRX Fidelity SustainablePairCorr
  0.99FRCVX Fidelity SustainablePairCorr
  0.97FRDCX Fidelity SustainablePairCorr
  0.76FRDEX Fidelity SustainablePairCorr
  0.99FRGAX Growth Allocation IndexPairCorr
  0.79FRLPX Fidelity Freedom IndexPairCorr

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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