Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2030
FGTKX Fund  USD 17.95  0.09  0.50%   
The current 90-days correlation between Fidelity Freedom 2030 and Fzdaqx is 0.54 (i.e., Very weak 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 2030 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 Freedom 2030 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 2030. 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 industry.

Moving together with Fidelity Mutual Fund

  0.93FPTKX Fidelity Freedom 2015PairCorr
  0.64FPXTX Fidelity PennsylvaniaPairCorr
  0.94FRBDX Fidelity Freedom 2070PairCorr
  0.94FRBHX Fidelity Freedom 2070PairCorr
  0.95FRBUX Fidelity Freedom IndexPairCorr
  0.94FRBYX Fidelity Freedom BlendPairCorr
  0.84FRAGX Aggressive GrowthPairCorr
  0.94FRCLX Fidelity Freedom BlendPairCorr
  0.9FRGAX Growth Allocation IndexPairCorr
  0.62FRINX Fidelity Real EstatePairCorr
  0.63FRIOX Fidelity Real EstatePairCorr
  0.61FRIQX Fidelity Real EstatePairCorr
  0.62FRIRX Fidelity Real EstatePairCorr
  0.95FRLPX Fidelity Freedom IndexPairCorr
  0.61FROGX Fidelity Municipal IncomePairCorr
  0.79FRQHX Fidelity Managed RetPairCorr
  0.79FRQIX Fidelity Income ReplPairCorr
  0.8FRQAX Fidelity Income ReplPairCorr
  0.67FAASX Fidelity Asset ManagerPairCorr
  0.68FAAIX Fidelity Asset ManagerPairCorr
  0.85FADMX Fidelity Advisor StrPairCorr
  0.75FADIX Fidelity Advisor DivPairCorr
  0.75FADCX Fidelity Advisor DivPairCorr
  0.76FAERX Fidelity Advisor OverseasPairCorr
  0.67FAFSX Fidelity Advisor FinPairCorr
  0.97FAFFX Fidelity Advisor FreedomPairCorr
  1.0FAFEX Fidelity Advisor FreedomPairCorr
  0.66FAFCX Fidelity Advisor FinPairCorr
  0.67FTF Franklin TempletonPairCorr

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   
WABMSX
+ 0.94
JTSQX
EICVX
+ 0.94
DIHRX
FZNQEX
+ 0.74
DIHRX
EICVX
+ 0.7
FZNQEX
XHYIX
+ 0.67
JTSQX
WABMSX
+ 0.58
FZDAQX
  
High negative correlations   
XHYIX
- 0.1
DIHRX
XHYIX
- 0.03
FZNQEX
EICVX
- 0.02
XHYIX

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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