Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Index
FIKFX Fund  USD 11.91  0.02  0.17%   
The current 90-days correlation between Fidelity Freedom Index and Fidelity Freedom Index is 0.05 (i.e., Significant 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

Very good diversification

The correlation between Fidelity Freedom Index and DJI is -0.21 (i.e., Very good 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

  0.9FPTKX Fidelity Freedom 2015PairCorr
  0.82FPXTX Fidelity PennsylvaniaPairCorr
  0.74FQIFX Fidelity Freedom IndexPairCorr
  0.92FQITX Fidelity Salem StreetPairCorr
  0.61FRBHX Fidelity Freedom 2070PairCorr
  0.64FRBOX Fidelity Advisor FreedomPairCorr
  0.64FRBPX Fidelity Advisor FreedomPairCorr
  0.61FRBUX Fidelity Freedom IndexPairCorr
  0.94FRASX Fidelity Income ReplPairCorr
  0.86FRESX Fidelity Real EstatePairCorr
  0.93FRIFX Fidelity Real EstatePairCorr
  0.95FRIMX Fidelity Income ReplPairCorr
  0.93FRINX Fidelity Real EstatePairCorr
  0.93FRIOX Fidelity Real EstatePairCorr
  0.93FRIQX Fidelity Real EstatePairCorr
  0.99FRHMX Fidelity Managed RetPairCorr
  1.0FRKMX Fidelity Managed RetPairCorr
  0.93FRIRX Fidelity Real EstatePairCorr
  0.81FROGX Fidelity Municipal IncomePairCorr
  1.0FRQHX Fidelity Managed RetPairCorr
  0.95FRQIX Fidelity Income ReplPairCorr
  0.95FRQKX Fidelity Managed RetPairCorr
  0.95FRQAX Fidelity Income ReplPairCorr

Moving against Fidelity Mutual Fund

  0.55FADTX Fidelity Advisor TecPairCorr
  0.47FACPX Fidelity Advisor SumerPairCorr
  0.44FAEGX Fidelity Advisor EquityPairCorr
  0.35FACVX Fidelity ConvertiblePairCorr
  0.33FACGX Fidelity Advisor GrowthPairCorr
  0.32FAGKX Fidelity Growth Stra Steady GrowthPairCorr
  0.32FAGCX Fidelity Advisor GrowthPairCorr

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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