Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Index
FIHFX Fund  USD 23.83  0.15  0.63%   
The current 90-days correlation between Fidelity Freedom Index and Fidelity Freedom Index is 1.0 (i.e., No risk reduction). 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 Index and DJI is 0.72 (i.e., Poor 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 census.

Moving together with Fidelity Mutual Fund

  0.87FPTKX Fidelity Freedom 2015PairCorr
  0.61FPXTX Fidelity PennsylvaniaPairCorr
  0.97FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  0.74FQITX Fidelity Salem StreetPairCorr
  0.95FQLSX Fidelity Flex FreedomPairCorr
  0.88FRBDX Fidelity Freedom 2070PairCorr
  0.88FRBEX Fidelity Freedom 2070PairCorr
  0.88FRBHX Fidelity Freedom 2070PairCorr
  0.88FRBKX Fidelity Advisor FreedomPairCorr
  0.87FRBLX Fidelity Advisor FreedomPairCorr
  0.88FRBOX Fidelity Advisor FreedomPairCorr
  0.88FRBPX Fidelity Advisor FreedomPairCorr
  0.87FRBUX Fidelity Freedom IndexPairCorr
  0.87FRBYX Fidelity Freedom BlendPairCorr
  0.91FRAGX Aggressive GrowthPairCorr
  0.79FRASX Fidelity Income ReplPairCorr
  0.87FRCFX Fidelity Freedom BlendPairCorr
  0.85FRCKX Fidelity Freedom BlendPairCorr
  0.87FRCLX Fidelity Freedom BlendPairCorr
  0.85FRCWX Fidelity SustainablePairCorr
  0.84FRDCX Fidelity SustainablePairCorr
  0.96FRGAX Growth Allocation IndexPairCorr
  0.74FRESX Fidelity Real EstatePairCorr
  0.7FRIMX Fidelity Income ReplPairCorr
  0.62FRHMX Fidelity Managed RetPairCorr
  0.62FRKMX Fidelity Managed RetPairCorr
  0.99FRLPX Fidelity Freedom IndexPairCorr
  0.63FRQHX Fidelity Managed RetPairCorr
  0.71FRQIX Fidelity Income ReplPairCorr
  0.7FRQKX Fidelity Managed RetPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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