Fidelity Freedom Correlations

FFSFX Fund

USD 14.05 0.09 0.64%

The current 90-days correlation between Fidelity Freedom 2065 and Fidelity Freedom 2060 is -0.05 (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

Poor diversification

The correlation between Fidelity Freedom 2065 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 2065 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 2065. 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 census.

Moving together with Fidelity Mutual Fund

0.63	FPUKX	Fidelity Puritan	Pair Corr
0.7	FQIPX	Fidelity Freedom Index	Pair Corr
0.61	FRGAX	Growth Allocation Index	Pair Corr
0.72	FAASX	Fidelity Asset Manager	Pair Corr
0.63	FAAIX	Fidelity Asset Manager	Pair Corr
0.61	FACNX	Fidelity Canada	Pair Corr

Related Correlations Analysis

	FDKVX	FDEEX	FFFGX	FFFVX	FFFHX
FDKVX		1.0	0.62	0.0	1.0	FDKVX
FDEEX	1.0		0.62	0.0	1.0	FDEEX
FFFGX	0.62	0.62		0.0	0.62	FFFGX
FFFVX	0.0	0.0	0.0		0.0	FFFVX
FFFHX	1.0	1.0	0.62	0.0		FFFHX
	FDKVX	FDEEX	FFFGX	FFFVX	FFFHX

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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

FDEEX	+ 1.0	FDKVX
FFFHX	+ 1.0	FDKVX
FFFHX	+ 1.0	FDEEX
FFFGX	+ 0.62	FDKVX
FFFGX	+ 0.62	FDEEX
FFFHX	+ 0.62	FFFGX

High negative correlations

FFFHX	- 0.0	FFFVX
FFFVX	- 0.0	FFFGX
FFFVX	- 0.0	FDEEX
FFFVX	- 0.0	FDKVX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FDKVX	0.47	0.08	(0.05)	1.06	0.40	(0.54)	1.12	(1.00)	3.17
FDEEX	0.48	0.08	(0.05)	1.09	0.42	(0.56)	1.15	(0.98)	3.15
FFFGX	0.47	0.06	(0.09)	1.29	0.44	(0.53)	1.13	(1.00)	3.12
FFFVX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FFFHX	0.47	0.08	(0.05)	1.03	0.41	(0.55)	1.12	(1.04)	3.15

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