Fidelity Freedom Correlations

FJTKX Fund  USD 13.86  0.11  0.80%   
The current 90-days correlation between Fidelity Freedom 2045 and Allianzgi Technology Fund is 0.84 (i.e., Very 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

Very weak diversification

The correlation between Fidelity Freedom 2045 and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2045 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 2045. 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

  0.94FPTKX Fidelity Freedom 2015PairCorr
  0.8FPURX Fidelity PuritanPairCorr
  0.8FPUKX Fidelity PuritanPairCorr
  0.67FPXTX Fidelity PennsylvaniaPairCorr
  0.93FQIFX Fidelity Freedom IndexPairCorr
  0.99FQIPX Fidelity Freedom IndexPairCorr
  0.87FQITX Fidelity Salem StreetPairCorr
  0.96FQLSX Fidelity Flex FreedomPairCorr
  0.99FRAGX Aggressive GrowthPairCorr
  0.89FRAMX Fidelity Income ReplPairCorr
  0.92FRASX Fidelity Income ReplPairCorr
  0.99FRGAX Growth Allocation IndexPairCorr
  0.64FRESX Fidelity Real EstatePairCorr
  0.78FRIFX Fidelity Real EstatePairCorr
  0.89FRIMX Fidelity Income ReplPairCorr
  0.78FRINX Fidelity Real EstatePairCorr
  0.78FRIOX Fidelity Real EstatePairCorr
  0.78FRIQX Fidelity Real EstatePairCorr
  0.89FRHMX Fidelity Managed RetPairCorr
  0.89FRKMX Fidelity Managed RetPairCorr
  0.78FRIRX Fidelity Real EstatePairCorr
  0.99FRLPX Fidelity Freedom IndexPairCorr
  0.65FROGX Fidelity Municipal IncomePairCorr
  0.89FRQHX Fidelity Managed RetPairCorr
  0.89FRQIX Fidelity Income ReplPairCorr
  0.89FRQKX Fidelity Managed RetPairCorr
  0.9FRQAX Fidelity Income ReplPairCorr
  0.71FAASX Fidelity Asset ManagerPairCorr
  0.72FAAIX Fidelity Asset ManagerPairCorr
  0.62FACNX Fidelity CanadaPairCorr
  0.61FACGX Fidelity Advisor GrowthPairCorr
  0.92FACFX Fidelity Advisor FreedomPairCorr
  0.88FADMX Fidelity Advisor StrPairCorr

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   
BTEEXRAGTX
ROGSXRAGTX
PRGTXBTEEX
PRGTXRAGTX
TEPIXROGSX
ROGSXPRGTX
  
High negative correlations   
TEPIXTOWTX

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.