Fidelity Freedom Correlations

Mutual Funds . USA . 
Fund . Fidelity Freedom 2010
FSNKX Fund  USD 14.50  0.03  0.21%   
The current 90-days correlation between Fidelity Freedom 2010 and Energy Basic Materials is 0.43 (i.e., Very weak 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

Very weak diversification

The correlation between Fidelity Freedom 2010 and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Freedom 2010 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 2010. 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 industry.

Moving together with FIDELITY Mutual Fund

  0.97FPTKX Fidelity Freedom 2015PairCorr
  0.63FPXTX Fidelity PennsylvaniaPairCorr
  0.85FQIFX Fidelity Freedom IndexPairCorr
  0.72FQITX Fidelity Salem StreetPairCorr
  0.98FRAMX Fidelity Income ReplPairCorr
  1.0FRASX Fidelity Income ReplPairCorr
  0.77FRIFX Fidelity Real EstatePairCorr
  0.98FRIMX Fidelity Income ReplPairCorr
  0.77FRINX Fidelity Real EstatePairCorr
  0.79FRIOX Fidelity Real EstatePairCorr
  0.78FRIQX Fidelity Real EstatePairCorr
  0.99FRHMX Fidelity Managed RetPairCorr
  0.98FRKMX Fidelity Managed RetPairCorr
  0.77FRIRX Fidelity Real EstatePairCorr
  0.7FROGX Fidelity Municipal IncomePairCorr
  0.99FRQHX Fidelity Managed RetPairCorr
  0.99FRQIX Fidelity Income ReplPairCorr
  0.99FRQKX Fidelity Managed RetPairCorr
  0.99FRQAX Fidelity Income ReplPairCorr
  0.67FACTX Fidelity Advisor HealthPairCorr
  1.0FACFX Fidelity Advisor FreedomPairCorr

Moving against FIDELITY Mutual Fund

  0.47FRPDX Fidelity Sai AlternativePairCorr
  0.32FRPCX Fidelity Sai AlternativePairCorr
  0.39FAFSX Fidelity Advisor FinPairCorr
  0.39FAFDX Fidelity Advisor FinPairCorr
  0.39FAFCX Fidelity Advisor FinPairCorr

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   
DLDCX
+ 0.99
FRNRX
FRNRX
+ 0.94
SBMBX
DLDCX
+ 0.92
SBMBX
XEMOX
+ 0.9
APWEX
APWEX
+ 0.84
DLDCX
APWEX
+ 0.83
FRNRX
  
High negative correlations   
XEMOX
- 0.28
XGNTX

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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