Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom Index
FUIPX Fund  USD 18.55  0.03  0.16%   
The current 90-days correlation between Fidelity Freedom Index and Ultraemerging Markets Profund is -0.09 (i.e., Good 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 0.76 (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 american community survey.

Moving together with Fidelity Mutual Fund

  0.78FPTKX Fidelity Freedom 2015PairCorr
  0.76FQIFX Fidelity Freedom IndexPairCorr
  0.65FQITX Fidelity Salem StreetPairCorr
  0.88FRBDX Fidelity Freedom 2070PairCorr
  0.88FRBHX Fidelity Freedom 2070PairCorr
  0.87FRBUX Fidelity Freedom IndexPairCorr
  0.87FRBYX Fidelity Freedom BlendPairCorr
  0.96FRAGX Aggressive GrowthPairCorr
  0.87FRCLX Fidelity Freedom BlendPairCorr
  0.99FRGAX Growth Allocation IndexPairCorr
  1.0FRLPX Fidelity Freedom IndexPairCorr
  0.76FAASX Fidelity Asset ManagerPairCorr
  0.76FAAIX Fidelity Asset ManagerPairCorr
  0.76FADMX Fidelity Advisor StrPairCorr
  0.81FAFSX Fidelity Advisor FinPairCorr
  0.99FAFFX Fidelity Advisor FreedomPairCorr
  0.93FAFEX Fidelity Advisor FreedomPairCorr
  0.8FAFCX Fidelity Advisor FinPairCorr
  0.73FAGIX Fidelity Capital IncomePairCorr
  0.79FAHYX Fidelity Advisor HighPairCorr

Related Correlations Analysis

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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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