State Street Correlations

Mutual Funds . USA . 
Fund . State Street Premier
SPGSX Fund  USD 109.03  0.19  0.17%   
The current 90-days correlation between State Street Premier and Great West Real Estate is 0.06 (i.e., Significant diversification). The correlation of State Street 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.

State Street Correlation With Market

Poor diversification

The correlation between State Street Premier and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding State Street Premier and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in State Street Premier. 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 producer price index.

Moving together with State Mutual Fund

  0.73VTSAX Vanguard Total StockPairCorr
  0.71VFIAX Vanguard 500 IndexPairCorr
  0.73VTSMX Vanguard Total StockPairCorr
  0.73VSTSX Vanguard Total StockPairCorr
  0.73VITSX Vanguard Total StockPairCorr
  0.73VSMPX Vanguard Total StockPairCorr
  0.82VTIAX Vanguard Total InterPairCorr
  0.71VFINX Vanguard 500 IndexPairCorr
  0.71VFFSX Vanguard 500 IndexPairCorr
  0.81NHS Neuberger Berman HighPairCorr
  0.83SWYHX Schwab Target 2045PairCorr
  0.8USCGX Capital GrowthPairCorr
  0.65GFSZX Strategic AlternativesPairCorr
  0.89SHXCX American Beacon ShapiroPairCorr
  0.68TVOCX Touchstone Small CapPairCorr
  0.82NWEIX Nationwide DestinationPairCorr
  0.77VIVAX Vanguard Value IndexPairCorr
  0.84PRNEX T Rowe PricePairCorr
  0.8RTISX Select InternationalPairCorr
  0.85PISDX Columbia Pyrford IntPairCorr
  0.87PHDTX Pace High YieldPairCorr
  0.79USPVX Union Street PartnersPairCorr
  0.8RLIAX Invesco Income AllocationPairCorr
  0.79USERX Gold And PreciousPairCorr
  0.87NSRIX Northern Global SustPairCorr
  0.75VSMVX Vanguard Sp SmallPairCorr
  0.79FIJDX Gold Portfolio Fidelity Steady GrowthPairCorr
  0.9REREX Europacific GrowthPairCorr
  0.76TFEBX Tax Exempt BondPairCorr
  0.76ACCSX Access Capital MunityPairCorr
  0.82PRFDX T Rowe PricePairCorr
  0.87FPURX Fidelity PuritanPairCorr
  0.77DAGVX Dreyfus Strategic ValuePairCorr
  0.83DNVYX Davis New YorkPairCorr
  0.85NEZNX Loomis Sayles StrategicPairCorr
  0.83FRASX Fidelity Income ReplPairCorr
  0.79FTISX Fidelity InternationalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between State Mutual Fund performing well and State Street 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 State Street'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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