State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSAWX Fund   18.12  0.16  0.89%   
The current 90-days correlation between State Street Target and Fidelity Sai Convertible is -0.04 (i.e., Good 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

Average diversification

The correlation between State Street Target and DJI is 0.14 (i.e., Average 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 producer price index.

Moving together with State Mutual Fund

  0.82SSAHX State Street TargetPairCorr
  0.86SSAJX State Street TargetPairCorr
  0.96SSAOX State Street TargetPairCorr
  0.93SSAKX State Street TargetPairCorr
  0.85SSBYX State Street TargetPairCorr
  0.9SSCKX State Street TargetPairCorr
  0.91SSCQX State Street TargetPairCorr
  0.91SSAZX State Street TargetPairCorr
  1.0SSAYX State Street TargetPairCorr
  0.98SSAUX State Street TargetPairCorr
  0.81SSBSX State Street TargetPairCorr
  1.0SSDYX State Street TargetPairCorr
  0.94SSDEX State Street TargetPairCorr
  0.97SSDLX State Street TargetPairCorr
  1.0SSDQX State Street TargetPairCorr
  0.86SSGLX State Street GlobalPairCorr
  0.85SSGHX State Street GlobalPairCorr
  1.0SSFJX State Street TargetPairCorr
  0.77SSFKX State Street TargetPairCorr
  0.8SSFRX State Street EquityPairCorr
  0.8SSFOX State Street TargetPairCorr
  0.67SSIQX Ssga International StockPairCorr
  0.67SSILX Ssga International StockPairCorr
  0.74SSHQX State Street HedgedPairCorr
  0.82SSMLX State Street SmallmidPairCorr
  0.82SSMKX State Street SmallmidPairCorr
  0.82SSMJX State Street SmallmidPairCorr
  0.83SSSWX State Street EquityPairCorr

Related Correlations Analysis


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

GCV
+ 0.86
CCD
ARBOX
+ 0.7
FSAWX
GCV
+ 0.6
XAVKX
XAVKX
+ 0.52
CCD
XAVKX
+ 0.14
FSAWX
ARBOX
+ 0.09
XAVKX
  

High negative correlations

GCV
- 0.36
FSAWX
CCD
- 0.29
FSAWX
ARBOX
- 0.18
GCV
ARBOX
- 0.15
CCD

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
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