Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Index
FPIFX Fund  USD 16.12  0.04  0.25%   
The current 90-days correlation between Fidelity Freedom Index and Fidelity Freedom Index is 0.97 (i.e., Almost no 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 Index and DJI is 0.66 (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
  0.64FPXTX Fidelity PennsylvaniaPairCorr
  0.96FQIFX Fidelity Freedom IndexPairCorr
  0.8FQIPX Fidelity Freedom IndexPairCorr
  0.7FQITX Fidelity Salem StreetPairCorr
  0.86FQLSX Fidelity Flex FreedomPairCorr
  0.73FRBDX Fidelity Freedom 2070PairCorr
  0.72FRBEX Fidelity Freedom 2070PairCorr
  0.73FRBHX Fidelity Freedom 2070PairCorr
  0.75FRBKX Fidelity Advisor FreedomPairCorr
  0.74FRBLX Fidelity Advisor FreedomPairCorr
  0.75FRBOX Fidelity Advisor FreedomPairCorr
  0.76FRBPX Fidelity Advisor FreedomPairCorr
  0.74FRBUX Fidelity Freedom IndexPairCorr
  0.74FRBWX Fidelity Freedom IndexPairCorr
  0.75FRBYX Fidelity Freedom BlendPairCorr
  0.7FRAGX Aggressive GrowthPairCorr
  0.72FRAMX Fidelity Income ReplPairCorr
  0.77FRASX Fidelity Income ReplPairCorr
  0.75FRCFX Fidelity Freedom BlendPairCorr
  0.74FRCKX Fidelity Freedom BlendPairCorr
  0.75FRCLX Fidelity Freedom BlendPairCorr
  0.7FRCWX Fidelity SustainablePairCorr
  0.69FRDCX Fidelity SustainablePairCorr
  0.77FRGAX Growth Allocation IndexPairCorr
  0.83FRESX Fidelity Real EstatePairCorr
  0.71FRIMX Fidelity Income ReplPairCorr
  0.67FRHMX Fidelity Managed RetPairCorr
  0.67FRKMX Fidelity Managed RetPairCorr
  0.8FRLPX Fidelity Freedom IndexPairCorr
  0.67FRQHX Fidelity Managed RetPairCorr
  0.71FRQIX Fidelity Income ReplPairCorr

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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