State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSAWX Fund   18.58  0.10  0.54%   
The current 90-days correlation between State Street Target and John Hancock Variable is 0.1 (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

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 signals in manufacturing.

Moving together with State Mutual Fund

  0.77SSAHX State Street TargetPairCorr
  0.78SSAJX State Street TargetPairCorr
  0.79SSAOX State Street TargetPairCorr
  0.78SSAKX State Street TargetPairCorr
  0.71SSBYX State Street TargetPairCorr
  0.78SSCKX State Street TargetPairCorr
  0.74SSCQX State Street TargetPairCorr
  0.78SSAZX State Street TargetPairCorr
  0.78SSAYX State Street TargetPairCorr
  0.77SSAUX State Street TargetPairCorr
  0.78SSBSX State Street TargetPairCorr
  0.78SSDYX State Street TargetPairCorr
  0.66SSEYX State Street EquityPairCorr
  0.78SSDEX State Street TargetPairCorr
  0.79SSDLX State Street TargetPairCorr
  0.72SSDQX State Street TargetPairCorr
  0.71SSGLX State Street GlobalPairCorr
  0.75SSGHX State Street GlobalPairCorr
  0.99SSGJX State Street GlobalPairCorr
  0.71SSGVX State Street GlobalPairCorr
  0.71SSFKX State Street TargetPairCorr
  0.75SSFOX State Street TargetPairCorr
  0.7SSIQX Ssga International StockPairCorr
  0.75SSILX Ssga International StockPairCorr
  0.97SSHQX State Street HedgedPairCorr
  0.7SSKEX State Street EmergingPairCorr
  0.97SSMLX State Street SmallmidPairCorr
  0.81SSMHX State Street SmallmidPairCorr
  0.81SSMJX State Street SmallmidPairCorr
  0.67SSSWX State Street EquityPairCorr
  0.66SSSYX State Street EquityPairCorr
  0.76SSSVX State Street EquityPairCorr

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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