Fidelity Asset Correlations

FSANX Fund  USD 16.07  0.04  0.25%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Asset Manager is 0.95 (i.e., Almost no 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

FidelityDowDiversified AwayFidelityDowDiversified Away100%

Very weak diversification

The correlation between Fidelity Asset Manager 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 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

  0.87FPTKX Fidelity Freedom 2015PairCorr
  0.81FPUKX Fidelity PuritanPairCorr
  0.71FPXTX Fidelity PennsylvaniaPairCorr
  0.9FQIFX Fidelity Freedom IndexPairCorr
  0.74FQIPX Fidelity Freedom IndexPairCorr
  0.74FRAGX Aggressive GrowthPairCorr
  0.81FRAMX Fidelity Income ReplPairCorr
  0.81FRASX Fidelity Income ReplPairCorr
  0.81FRESX Fidelity Real EstatePairCorr
  0.85FRIFX Fidelity Real EstatePairCorr
  0.85FRINX Fidelity Real EstatePairCorr
  0.86FRIOX Fidelity Real EstatePairCorr
  0.79FRHMX Fidelity Managed RetPairCorr
  0.79FRKMX Fidelity Managed RetPairCorr
  0.85FRIRX Fidelity Real EstatePairCorr
  0.73FROGX Fidelity Municipal IncomePairCorr
  0.8FRQIX Fidelity Income ReplPairCorr
  0.8FRQKX Fidelity Managed RetPairCorr
  0.87FAASX Fidelity Asset ManagerPairCorr
  0.72FACTX Fidelity Advisor HealthPairCorr
  0.79FACNX Fidelity CanadaPairCorr
  0.73FACDX Fidelity Advisor HealthPairCorr
  0.68FAEGX Fidelity Advisor EquityPairCorr
  0.85FAFSX Fidelity Advisor FinPairCorr
  0.78FRYBX Fidelity BalancedPairCorr
  0.87FALAX Fidelity Advisor LargePairCorr
  0.68FAMKX Fidelity Advisor EmergingPairCorr
  0.91FSAAX Fidelity Asset ManagerPairCorr
  0.73FSAMX Strategic AdvisersPairCorr

Related Correlations Analysis

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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.