State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSAOX Fund   17.17  0.01  0.06%   
The current 90-days correlation between State Street Target and Praxis Small Cap is 0.38 (i.e., Weak 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 0.88 (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 various price indices.

Moving together with State Mutual Fund

  1.0SSAHX State Street TargetPairCorr
  0.93SSBYX State Street TargetPairCorr
  0.93SSCQX State Street TargetPairCorr
  0.99SSAWX State Street TargetPairCorr
  1.0SSAZX State Street TargetPairCorr
  0.78SSEYX State Street EquityPairCorr
  1.0SSDEX State Street TargetPairCorr
  1.0SSDLX State Street TargetPairCorr
  0.93SSDQX State Street TargetPairCorr
  0.93SSFKX State Street TargetPairCorr
  0.8SSFRX State Street EquityPairCorr
  0.99SSFOX State Street TargetPairCorr
  0.93SSIQX Ssga International StockPairCorr
  0.93SSILX Ssga International StockPairCorr
  0.96SSHQX State Street HedgedPairCorr
  0.95SSMLX State Street SmallmidPairCorr
  0.94SSMHX State Street SmallmidPairCorr
  0.78SSSYX State Street EquityPairCorr
  0.81STBIX State Street EquityPairCorr
  0.92SUSSX State Street InstituPairCorr
  0.92SUSIX State Street InstituPairCorr
  0.79SVSPX Ssga Sp 500PairCorr
  0.84SIVIX State Street InstituPairCorr
  1.0ELDFX Elfun DiversifiedPairCorr
  0.98ELFNX Elfun Trusts ElfunPairCorr
  0.93VTIVX Vanguard Target RetiPairCorr
  0.94AAHTX American Funds 2045PairCorr
  0.77CCHTX American Funds 2045PairCorr
  0.94FATTX American Funds 2045PairCorr
  0.93FIOFX Fidelity Freedom IndexPairCorr
  0.93FFOLX Fidelity Freedom IndexPairCorr
  0.95FFFGX Fidelity Freedom 2045PairCorr
  0.95FJTKX Fidelity Freedom 2045PairCorr
  0.76FAVPX Fidelity Freedom IndexPairCorr
  0.85NHS Neuberger Berman HighPairCorr

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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