State Street Correlations

SSAKX Fund

15.35 0.01 0.07%

The current 90-days correlation between State Street Target and Multisector Bond Sma is 0.19 (i.e., Average 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 Target and DJI is 0.76 (i.e., 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 industry.

Moving together with State Mutual Fund

0.87	SSAHX	State Street Target	Pair Corr
0.99	SSAJX	State Street Target	Pair Corr
1.0	SSAOX	State Street Target	Pair Corr
0.99	SSBYX	State Street Target	Pair Corr
1.0	SSCKX	State Street Target	Pair Corr
1.0	SSCNX	State Street Target	Pair Corr
1.0	SSCJX	State Street Target	Pair Corr
1.0	SSCQX	State Street Target	Pair Corr
0.88	SSBSX	State Street Target	Pair Corr
0.82	SSBOX	State Street Target	Pair Corr
0.76	SSEYX	State Street Equity	Pair Corr
0.99	SSDEX	State Street Target	Pair Corr
0.98	SSDOX	State Street Target	Pair Corr
0.98	SSDLX	State Street Target	Pair Corr
0.87	SSFOX	State Street Target	Pair Corr
0.75	SSSYX	State Street Equity	Pair Corr
0.78	SUSIX	State Street Institu	Pair Corr
0.65	SIVIX	State Street Institu	Pair Corr
0.99	ELDFX	Elfun Diversified	Pair Corr
0.98	VFORX	Vanguard Target Reti	Pair Corr
0.95	AAGTX	American Funds 2040	Pair Corr
0.96	CCGTX	American Funds 2040	Pair Corr
0.95	FAUTX	American Funds 2040	Pair Corr
0.87	FFFFX	Fidelity Freedom 2040	Pair Corr
0.97	FHTKX	Fidelity Freedom 2040	Pair Corr
0.95	TRHDX	T Rowe Price	Pair Corr
0.97	FSNVX	Fidelity Freedom 2040	Pair Corr
0.88	FPIPX	Fidelity Freedom Index	Pair Corr

Related Correlations Analysis

	MBSAX	NEITX	PACEX	USCBX	MDMTX	BXDCX	PATFX	BBINX
MBSAX		0.78	0.38	0.77	0.65	0.41	0.79	0.77	MBSAX
NEITX	0.78		0.14	0.93	0.89	0.1	0.85	0.85	NEITX
PACEX	0.38	0.14		0.31	0.01	0.77	0.54	0.44	PACEX
USCBX	0.77	0.93	0.31		0.75	0.33	0.9	0.82	USCBX
MDMTX	0.65	0.89	0.01	0.75		-0.14	0.7	0.87	MDMTX
BXDCX	0.41	0.1	0.77	0.33	-0.14		0.48	0.28	BXDCX
PATFX	0.79	0.85	0.54	0.9	0.7	0.48		0.88	PATFX
BBINX	0.77	0.85	0.44	0.82	0.87	0.28	0.88		BBINX
	MBSAX	NEITX	PACEX	USCBX	MDMTX	BXDCX	PATFX	BBINX

Click cells to compare fundamentals

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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

USCBX	+ 0.93	NEITX
PATFX	+ 0.9	USCBX
MDMTX	+ 0.89	NEITX
BBINX	+ 0.88	PATFX
BBINX	+ 0.87	MDMTX
PATFX	+ 0.85	NEITX

High negative correlations

BXDCX

- 0.14

MDMTX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MBSAX	0.21	0.00	(0.36)	0.07	0.23	(0.23)	0.37	(0.44)	1.25
NEITX	0.16	0.01	(0.24)	0.04	0.27	(0.27)	0.43	(0.32)	1.62
PACEX	0.12	0.00	(0.72)	0.33	0.00	(0.22)	0.32	(0.22)	0.97
USCBX	0.15	0.02	(0.27)	(0.04)	0.23	(0.23)	0.39	(0.29)	1.74
MDMTX	0.16	(0.01)	(0.33)	(0.23)	0.25	(0.23)	0.38	(0.56)	1.33
BXDCX	0.09	0.01	(0.83)	(0.50)	0.00	(0.16)	0.22	(0.11)	0.65
PATFX	0.15	0.02	(0.27)	(0.04)	0.23	(0.25)	0.44	(0.35)	1.69
BBINX	0.11	(0.01)	(0.43)	(0.13)	0.15	(0.19)	0.29	(0.29)	1.07

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