Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FFTMX Fund  USD 21.22  0.08  0.38%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Asset Manager is 0.97 (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

Poor diversification

The correlation between Fidelity Asset Manager and DJI is 0.66 (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

  0.78FPTKX Fidelity Freedom 2015PairCorr
  0.75FPURX Fidelity PuritanPairCorr
  0.75FPUKX Fidelity PuritanPairCorr
  0.66FPXTX Fidelity PennsylvaniaPairCorr
  0.94FQIFX Fidelity Freedom IndexPairCorr
  0.93FQIPX Fidelity Freedom IndexPairCorr
  0.9FQLSX Fidelity Flex FreedomPairCorr
  0.87FRAGX Aggressive GrowthPairCorr
  0.69FRASX Fidelity Income ReplPairCorr
  0.93FRGAX Growth Allocation IndexPairCorr
  0.93FRLPX Fidelity Freedom IndexPairCorr
  0.61FRQHX Fidelity Managed RetPairCorr
  0.96FAASX Fidelity Asset ManagerPairCorr
  0.96FAAIX Fidelity Asset ManagerPairCorr
  0.74FACPX Fidelity Advisor Sumer Downward RallyPairCorr
  0.64FACNX Fidelity CanadaPairCorr
  0.61FACGX Fidelity Advisor GrowthPairCorr

Moving against Fidelity Mutual Fund

  0.54FRPDX Fidelity Sai AlternativePairCorr

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   
FTASX
+ 0.99
FEYTX
FTSDX
+ 0.81
FEYTX
FTASX
+ 0.8
FTSDX
FAIOX
+ 0.54
FTSDX
FAIOX
+ 0.52
FEYTX
FAIOX
+ 0.46
FTASX
  
High negative correlations   
FBTTX
- 0.45
FEYTX
FTASX
- 0.43
FBTTX
FBTTX
- 0.4
FTSDX
FAIOX
- 0.07
FBTTX

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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