Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FFIMX Fund  USD 20.97  0.10  0.48%   
The current 90-days correlation between Fidelity Asset Manager and Advent Claymore Convertible is 0.39 (i.e., Weak 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 0.72 (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 population.

Moving together with Fidelity Mutual Fund

  0.79FPTKX Fidelity Freedom 2015PairCorr
  0.72FPURX Fidelity PuritanPairCorr
  0.72FPUKX Fidelity PuritanPairCorr
  0.74FPXTX Fidelity PennsylvaniaPairCorr
  0.94FQIFX Fidelity Freedom IndexPairCorr
  0.96FQIPX Fidelity Freedom IndexPairCorr
  0.95FQLSX Fidelity Flex FreedomPairCorr
  0.89FRAGX Aggressive GrowthPairCorr
  0.65FRAMX Fidelity Income ReplPairCorr
  0.73FRASX Fidelity Income ReplPairCorr
  0.94FRGAX Growth Allocation IndexPairCorr
  0.67FRIMX Fidelity Income ReplPairCorr
  0.68FRHMX Fidelity Managed RetPairCorr
  0.67FRKMX Fidelity Managed RetPairCorr
  0.96FRLPX Fidelity Freedom IndexPairCorr
  0.69FROGX Fidelity Municipal IncomePairCorr
  0.69FRQHX Fidelity Managed RetPairCorr
  0.67FRQIX Fidelity Income ReplPairCorr
  0.68FRQKX Fidelity Managed RetPairCorr
  0.66FRQAX Fidelity Income ReplPairCorr
  0.98FAASX Fidelity Asset ManagerPairCorr
  0.98FAAIX Fidelity Asset Manager Potential GrowthPairCorr
  0.68FACPX Fidelity Advisor SumerPairCorr
  0.66FACFX Fidelity Advisor FreedomPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
XNCVX
+ 0.9
AVK
XNCVX
+ 0.78
FSAWX
FSAWX
+ 0.73
AVK
ARBOX
+ 0.67
XNCVX
ARBOX
+ 0.49
FSAWX
ARBOX
+ 0.43
AVK
  
High negative correlations   
CCD
- 0.64
FSAWX
XNCVX
- 0.63
CCD
ARBOX
- 0.58
CCD
CCD
- 0.46
AVK

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY