Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2040
FHTKX Fund  USD 11.66  0.20  1.75%   
The current 90-days correlation between Fidelity Freedom 2040 and Transamerica Emerging Markets is 0.7 (i.e., Poor 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 2040 and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2040 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 2040. 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

  0.85FPTKX Fidelity Freedom 2015PairCorr
  0.72FPURX Fidelity PuritanPairCorr
  0.72FPUKX Fidelity PuritanPairCorr
  0.94FQIFX Fidelity Freedom IndexPairCorr
  0.67FQITX Fidelity Salem StreetPairCorr
  0.99FQLSX Fidelity Flex FreedomPairCorr
  0.97FRAGX Aggressive GrowthPairCorr
  0.67FRAMX Fidelity Income ReplPairCorr
  0.75FRASX Fidelity Income ReplPairCorr
  0.99FRCPX Fidelity Freedom BlendPairCorr
  0.7FRESX Fidelity Real EstatePairCorr
  0.66FRIMX Fidelity Income ReplPairCorr
  0.65FRHMX Fidelity Managed RetPairCorr
  0.65FRKMX Fidelity Managed RetPairCorr
  0.98FRLPX Fidelity Freedom IndexPairCorr
  0.66FRQHX Fidelity Managed RetPairCorr
  0.66FRQIX Fidelity Income ReplPairCorr
  0.66FRQKX Fidelity Managed RetPairCorr
  0.67FRQAX Fidelity Income ReplPairCorr
  0.81FAASX Fidelity Asset ManagerPairCorr
  0.82FAAIX Fidelity Asset ManagerPairCorr
  0.8FACNX Fidelity CanadaPairCorr
  0.62FACGX Fidelity Advisor GrowthPairCorr
  0.73FACFX Fidelity Advisor FreedomPairCorr
  0.76FADMX Fidelity Advisor StrPairCorr
  0.7FADIX Fidelity Advisor DivPairCorr

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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