Fidelity Asset Correlations

FSAAX Fund  USD 16.26  0.07  0.43%   
The current 90-days correlation between Fidelity Asset Manager and Goldman Sachs Inflation is 0.07 (i.e., Significant diversification). The correlation of Fidelity Asset 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 Asset Correlation With Market

Poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Asset Manager 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 Asset Manager. 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 nation.

Moving together with Fidelity Mutual Fund

  0.71FPTKX Fidelity Freedom 2015PairCorr
  0.81FPURX Fidelity PuritanPairCorr
  0.81FPUKX Fidelity PuritanPairCorr
  0.9FQIFX Fidelity Freedom IndexPairCorr
  0.96FQIPX Fidelity Freedom IndexPairCorr
  0.95FQLSX Fidelity Flex FreedomPairCorr
  0.92FRAGX Aggressive GrowthPairCorr
  0.96FRGAX Growth Allocation IndexPairCorr
  0.97FRLPX Fidelity Freedom IndexPairCorr
  0.99FAASX Fidelity Asset ManagerPairCorr
  0.99FAAIX Fidelity Asset ManagerPairCorr
  0.66FACVX Fidelity VertiblePairCorr
  0.78FACPX Fidelity Advisor Sumer Downward RallyPairCorr
  0.67FACNX Fidelity CanadaPairCorr
  0.69FACGX Fidelity Advisor GrowthPairCorr

Moving against Fidelity Mutual Fund

  0.49FRPDX Fidelity Sai AlternativePairCorr

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 Asset 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 Asset'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.