Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FSATX Fund  USD 15.33  0.01  0.07%   
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

Modest diversification

The correlation between Fidelity Asset Manager and DJI is 0.2 (i.e., Modest 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 estimate.

Moving together with Fidelity Mutual Fund

  0.82FPTKX Fidelity Freedom 2015PairCorr
  0.61FPURX Fidelity PuritanPairCorr
  0.61FPUKX Fidelity PuritanPairCorr
  0.67FPXTX Fidelity PennsylvaniaPairCorr
  0.87FQIFX Fidelity Freedom IndexPairCorr
  0.84FQIPX Fidelity Freedom IndexPairCorr
  0.99FQLSX Fidelity Flex FreedomPairCorr
  0.76FRAGX Aggressive GrowthPairCorr
  0.82FRAMX Fidelity Income ReplPairCorr
  0.86FRASX Fidelity Income ReplPairCorr
  0.82FRGAX Growth Allocation IndexPairCorr
  0.66FRIFX Fidelity Real EstatePairCorr
  0.83FRIMX Fidelity Income ReplPairCorr
  0.64FRINX Fidelity Real EstatePairCorr
  0.64FRIOX Fidelity Real EstatePairCorr
  0.66FRIQX Fidelity Real EstatePairCorr
  0.83FRHMX Fidelity Managed RetPairCorr
  0.83FRKMX Fidelity Managed RetPairCorr
  0.65FRIRX Fidelity Real EstatePairCorr
  0.84FRLPX Fidelity Freedom IndexPairCorr
  0.65FROGX Fidelity Municipal IncomePairCorr
  0.84FRQHX Fidelity Managed RetPairCorr
  0.74FRQIX Fidelity Income ReplPairCorr
  0.83FRQKX Fidelity Managed RetPairCorr
  0.82FRQAX Fidelity Income ReplPairCorr
  0.88FAASX Fidelity Asset ManagerPairCorr
  0.87FAAIX Fidelity Asset ManagerPairCorr
  0.68FACTX Fidelity Advisor HealthPairCorr
  0.62FACNX Fidelity CanadaPairCorr
  0.77FACFX Fidelity Advisor FreedomPairCorr
  0.68FACDX Fidelity Advisor HealthPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
AALXX
+ 0.0
PRXXX
QCMMIX
+ 0.0
PRXXX
HEWXX
+ 0.0
PRXXX
PFCXX
+ 0.0
PRXXX
ELMXX
+ 0.0
PRXXX
POIXX
+ 0.0
PRXXX
  
High negative correlations   
POIXX
- 0.0
ELMXX
POIXX
- 0.0
PFCXX
ELMXX
- 0.0
PFCXX
POIXX
- 0.0
HEWXX
ELMXX
- 0.0
HEWXX
PFCXX
- 0.0
HEWXX

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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