Fidelity Asset Correlations

FTAWX Fund  USD 13.89  0.01  0.07%   
The current 90-days correlation between Fidelity Asset Manager and Fidelity Freedom 2015 is 0.95 (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

Very weak diversification

The correlation between Fidelity Asset Manager and DJI is 0.46 (i.e., Very weak 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 housing.

Moving together with Fidelity Mutual Fund

  0.92FPTKX Fidelity Freedom 2015PairCorr
  0.79FPXTX Fidelity PennsylvaniaPairCorr
  0.82FQIFX Fidelity Freedom IndexPairCorr
  0.86FRAMX Fidelity Income ReplPairCorr
  0.92FRASX Fidelity Income ReplPairCorr
  0.67FRIFX Fidelity Real EstatePairCorr
  0.87FRIMX Fidelity Income ReplPairCorr
  0.66FRINX Fidelity Real EstatePairCorr
  0.65FRIOX Fidelity Real EstatePairCorr
  0.71FRIQX Fidelity Real EstatePairCorr
  0.88FRHMX Fidelity Managed RetPairCorr
  0.87FRKMX Fidelity Managed RetPairCorr
  0.67FRIRX Fidelity Real EstatePairCorr
  0.76FROGX Fidelity Municipal IncomePairCorr
  0.89FRQHX Fidelity Managed RetPairCorr
  0.79FRQIX Fidelity Income ReplPairCorr
  0.88FRQKX Fidelity Managed RetPairCorr
  0.86FRQAX Fidelity Income ReplPairCorr
  0.67FAASX Fidelity Asset ManagerPairCorr
  0.86FACFX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.68FRPDX 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   
FQLSXFQIPX
FPUKXFPURX
FRAGXFPURX
FRAMXFPTKX
FRAGXFPUKX
FRAGXFQIPX
  
High negative correlations   
FQITXFPURX
FQITXFPUKX
FRAGXFQITX
FRAMXFPURX
FQLSXFQITX
FQITXFQIPX

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.26 (0.01)(0.29) 0.08  0.22 
 0.59 
 1.52 
FPURX  0.37  0.10 (0.01) 1.05  0.23 
 0.99 
 2.82 
FPUKX  0.38  0.06  0.00  0.22  0.20 
 0.95 
 2.79 
FPXTX  0.14  0.00 (0.35) 0.07  0.16 
 0.29 
 1.24 
FQIFX  0.30  0.03 (0.21) 0.51  0.27 
 0.67 
 1.81 
FQIPX  0.44  0.03 (0.04) 0.17  0.39 
 1.00 
 2.99 
FQITX  0.68 (0.05) 0.00 (0.04) 0.00 
 1.27 
 5.17 
FQLSX  0.48  0.03 (0.03) 0.17  0.39 
 1.10 
 3.16 
FRAGX  0.40  0.08 (0.04) 1.14  0.30 
 0.88 
 2.92 
FRAMX  0.20 (0.01)(0.48)(0.01) 0.20 
 0.37 
 1.30