Fidelity Freedom Correlations

FNSHX Fund

USD 10.77 0.01 0.09%

The current 90-days correlation between Fidelity Freedom Income and Fidelity New Markets is 0.63 (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

Very weak diversification

The correlation between Fidelity Freedom Income and DJI is 0.48 (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 Income 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 Income. 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 rate.

Moving together with Fidelity Mutual Fund

0.95	FPTKX	Fidelity Freedom 2015	Pair Corr
0.75	FPXTX	Fidelity Pennsylvania	Pair Corr
0.78	FQIFX	Fidelity Freedom Index	Pair Corr
0.96	FQITX	Fidelity Salem Street	Pair Corr
0.99	FRASX	Fidelity Income Repl	Pair Corr
0.86	FRESX	Fidelity Real Estate	Pair Corr
0.96	FRIFX	Fidelity Real Estate	Pair Corr
1.0	FRIMX	Fidelity Income Repl	Pair Corr
0.96	FRINX	Fidelity Real Estate	Pair Corr
0.96	FRIOX	Fidelity Real Estate	Pair Corr
0.96	FRIQX	Fidelity Real Estate	Pair Corr
0.96	FRHMX	Fidelity Managed Ret	Pair Corr
0.96	FRKMX	Fidelity Managed Ret	Pair Corr
0.96	FRIRX	Fidelity Real Estate	Pair Corr
0.74	FROGX	Fidelity Municipal Income	Pair Corr
0.96	FRQHX	Fidelity Managed Ret	Pair Corr
1.0	FRQIX	Fidelity Income Repl	Pair Corr
1.0	FRQKX	Fidelity Managed Ret	Pair Corr
1.0	FRQAX	Fidelity Income Repl	Pair Corr

Moving against Fidelity Mutual Fund

0.57	FADTX	Fidelity Advisor Tec	Pair Corr
0.54	FACPX	Fidelity Advisor Sumer	Pair Corr
0.47	FAEGX	Fidelity Advisor Equity	Pair Corr
0.35	FACVX	Fidelity Convertible	Pair Corr
0.33	FACGX	Fidelity Advisor Growth	Pair Corr
0.32	FAGKX	Fidelity Growth Stra Steady Growth	Pair Corr
0.32	FAGCX	Fidelity Advisor Growth	Pair Corr

Related Correlations Analysis

	FGWMX	FGVMX	FYMIX	FGYMX	FYMMX	FYMRX	FPTKX	FGZMX	FYLSX
FGWMX		1.0	0.31	1.0	0.29	0.31	0.88	1.0	0.35	FGWMX
FGVMX	1.0		0.31	1.0	0.29	0.31	0.88	1.0	0.35	FGVMX
FYMIX	0.31	0.31		0.33	1.0	1.0	0.58	0.31	0.83	FYMIX
FGYMX	1.0	1.0	0.33		0.31	0.33	0.89	1.0	0.36	FGYMX
FYMMX	0.29	0.29	1.0	0.31		1.0	0.56	0.28	0.82	FYMMX
FYMRX	0.31	0.31	1.0	0.33	1.0		0.58	0.3	0.83	FYMRX
FPTKX	0.88	0.88	0.58	0.89	0.56	0.58		0.88	0.71	FPTKX
FGZMX	1.0	1.0	0.31	1.0	0.28	0.3	0.88		0.34	FGZMX
FYLSX	0.35	0.35	0.83	0.36	0.82	0.83	0.71	0.34		FYLSX
	FGWMX	FGVMX	FYMIX	FGYMX	FYMMX	FYMRX	FPTKX	FGZMX	FYLSX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FGWMX	0.24	0.02	0.16	0.24	0.25	(0.26)	0.55	(0.39)	1.42
FGVMX	0.24	0.02	0.15	0.22	0.25	(0.27)	0.48	(0.40)	1.40
FYMIX	0.58	(0.05)	0.00	0.27	0.00	0.00	1.05	(1.42)	3.58
FGYMX	0.24	0.02	0.15	0.22	0.24	(0.27)	0.54	(0.40)	1.42
FYMMX	0.58	(0.05)	0.00	0.29	0.00	0.00	1.06	(1.42)	3.58
FYMRX	0.58	(0.05)	0.00	0.28	0.00	0.00	1.05	(1.32)	3.58
FPTKX	0.33	0.01	0.08	0.00	0.40	(0.37)	0.61	(0.69)	1.75
FGZMX	0.24	0.02	0.16	0.24	0.25	(0.27)	0.55	(0.39)	1.50
FYLSX	0.72	(0.01)	0.00	(0.05)	0.00	0.00	1.22	(1.50)	4.18

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