State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSAJX Fund   14.44  0.05  0.35%   
The current 90-days correlation between State Street Target and Scharf Balanced Opportunity is 0.23 (i.e., Modest 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

Very poor diversification

The correlation between State Street Target and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding State Street Target 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 Target. 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 bureau of economic analysis.

Moving together with State Mutual Fund

  0.93SSBYX State Street TargetPairCorr
  0.93SSCQX State Street TargetPairCorr
  0.78SSEYX State Street EquityPairCorr
  0.93SSDQX State Street TargetPairCorr
  0.78SSSYX State Street EquityPairCorr
  0.8SSSVX State Street EquityPairCorr
  0.78SVSPX Ssga Sp 500PairCorr
  0.85SIVIX State Street InstituPairCorr
  0.99EGLBX Elfun InternationalPairCorr
  1.0ELDFX Elfun DiversifiedPairCorr
  0.91ELFTX Elfun Tax ExemptPairCorr
  0.93VTHRX Vanguard Target RetiPairCorr
  0.98AAETX American Funds 2030PairCorr
  0.91CCETX American Funds 2030PairCorr
  0.93FAETX American Funds 2030PairCorr
  0.95FFFEX Fidelity Freedom 2030PairCorr
  0.95FGTKX Fidelity Freedom 2030PairCorr
  0.98FSNQX Fidelity Freedom 2030PairCorr
  0.94TRFHX T Rowe PricePairCorr
  0.67RYMEX Commodities StrategyPairCorr
  0.69RYMJX Commodities StrategyPairCorr
  0.7RYMBX Commodities StrategyPairCorr
  0.9BRUFX Bruce Fund BrucePairCorr
  0.98SPGSX State Street PremierPairCorr
  0.93KF Korea ClosedPairCorr
  0.94RRTPX T Rowe PricePairCorr
  0.94TCIWX Tiaa Cref InternationalPairCorr
  0.94CLBRX Columbia Capital AllPairCorr
  0.74WQAIX Westwood Quality AllcapPairCorr
  0.93TLWPX Tiaa Cref LifecyclePairCorr
  0.89MFLMX Blackrock S TPairCorr
  0.78VFINX Vanguard 500 IndexPairCorr
  0.7DLRHX Delaware HealthcarePairCorr
  0.93RPIHX T Rowe PricePairCorr
  0.95SCUPX Strategic Asset ManaPairCorr
  0.95RIGFX International Growth AndPairCorr
  0.81VSTRX Voya Short TermPairCorr

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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