Fidelity Asset Correlations

Mutual Funds . USA . 
Fund . Fidelity Asset Manager
FTCWX Fund  USD 13.73  0.01  0.07%   
The current 90-days correlation between Fidelity Asset Manager and Franklin Growth Opportunities is 0.53 (i.e., Very 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

Very weak diversification

The correlation between Fidelity Asset Manager and DJI is 0.47 (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

  0.94FPTKX Fidelity Freedom 2015PairCorr
  0.79FPXTX Fidelity PennsylvaniaPairCorr
  0.8FQIFX Fidelity Freedom IndexPairCorr
  0.91FRAMX Fidelity Income ReplPairCorr
  0.94FRASX Fidelity Income ReplPairCorr
  0.72FRIFX Fidelity Real EstatePairCorr
  0.91FRIMX Fidelity Income ReplPairCorr
  0.71FRINX Fidelity Real EstatePairCorr
  0.72FRIOX Fidelity Real EstatePairCorr
  0.76FRIQX Fidelity Real EstatePairCorr
  0.92FRHMX Fidelity Managed RetPairCorr
  0.92FRKMX Fidelity Managed RetPairCorr
  0.72FRIRX Fidelity Real EstatePairCorr
  0.78FROGX Fidelity Municipal IncomePairCorr
  0.93FRQHX Fidelity Managed RetPairCorr
  0.83FRQIX Fidelity Income ReplPairCorr
  0.92FRQKX Fidelity Managed RetPairCorr
  0.91FRQAX Fidelity Income ReplPairCorr
  0.91FACFX Fidelity Advisor FreedomPairCorr

Moving against Fidelity Mutual Fund

  0.68FRPDX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

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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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