Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FSANX Fund  USD 16.19  0.07  0.43%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Advisor Balanced is -0.02 (i.e., Good 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

Average diversification

The correlation between Fidelity Asset Manager and DJI is 0.12 (i.e., Average 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 board of governors.

Moving together with Fidelity Mutual Fund

  0.67FPTKX Fidelity Freedom 2015PairCorr
  0.76FPURX Fidelity PuritanPairCorr
  0.72FPUKX Fidelity PuritanPairCorr
  0.72FPXTX Fidelity PennsylvaniaPairCorr
  0.92FQIFX Fidelity Freedom IndexPairCorr
  0.98FQIPX Fidelity Freedom IndexPairCorr
  0.82FQLSX Fidelity Flex FreedomPairCorr
  0.91FRAGX Aggressive GrowthPairCorr
  0.64FRASX Fidelity Income ReplPairCorr
  0.96FRGAX Growth Allocation IndexPairCorr
  0.84FRLPX Fidelity Freedom IndexPairCorr
  0.66FROGX Fidelity Municipal IncomePairCorr
  0.61FRQHX Fidelity Managed RetPairCorr
  0.87FAASX Fidelity Asset ManagerPairCorr
  0.87FAAIX Fidelity Asset ManagerPairCorr
  0.63FACPX Fidelity Advisor SumerPairCorr

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.

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