State Street Correlations

SSAZX Fund

15.76 0.01 0.06%

The current 90-days correlation between State Street Target and Aqr Diversified Arbitrage is 0.09 (i.e., Significant 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 0.71 (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 nation.

Moving together with State Mutual Fund

0.94	VTTHX	Vanguard Target Reti	Pair Corr
0.94	AAFTX	American Funds 2035	Pair Corr
0.94	FAQTX	American Funds 2035	Pair Corr
0.94	CCFTX	American Funds 2035	Pair Corr
0.96	FFTHX	Fidelity Freedom 2035	Pair Corr
0.98	FWTKX	Fidelity Freedom 2035	Pair Corr
0.94	FIHFX	Fidelity Freedom Index	Pair Corr
0.95	FFEZX	Fidelity Freedom Index	Pair Corr
0.77	TRRJX	T Rowe Price	Pair Corr
0.74	LIIAX	Columbia Porate Income	Pair Corr
0.76	SRINX	Columbia Porate Income	Pair Corr
0.9	WRHIX	Ivy High Income	Pair Corr
0.91	WHIAX	Ivy High Income	Pair Corr
0.89	IHIFX	Ivy High Income	Pair Corr
0.89	IVHIX	Ivy High Income	Pair Corr
0.77	PBLCX	Blue Chip Fund	Pair Corr
0.87	GILCX	Guggenheim Large Cap	Pair Corr
0.9	TEBRX	Teberg Fund	Pair Corr
0.84	GLRIX	James Balanced Golden	Pair Corr
0.83	HWAAX	Hotchkis Wiley Value	Pair Corr
0.71	BMBSX	Baird Quality Interm	Pair Corr
0.88	CFIPX	Qs Global Equity	Pair Corr
0.88	BA	Boeing	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr
0.68	INTC	Intel	Pair Corr
0.64	XOM	Exxon Mobil Corp Earnings Call Tomorrow	Pair Corr

Moving against State Mutual Fund

0.45	VZ	Verizon Communications Earnings Call Tomorrow	Pair Corr
0.38	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	EIIMX	MBLAX	CDEYX	MCKSX	QDARX
EIIMX		0.94	0.93	0.9	0.93	EIIMX
MBLAX	0.94		0.94	0.93	0.91	MBLAX
CDEYX	0.93	0.94		0.94	0.88	CDEYX
MCKSX	0.9	0.93	0.94		0.89	MCKSX
QDARX	0.93	0.91	0.88	0.89		QDARX
	EIIMX	MBLAX	CDEYX	MCKSX	QDARX

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
EIIMX	0.12	0.06	0.05	1.58	0.00	(0.20)	0.30	(0.15)	0.46
MBLAX	0.24	0.03	(0.05)	0.42	0.16	(0.30)	0.55	(0.47)	1.25
CDEYX	0.54	0.06	0.07	0.13	0.52	(0.62)	1.24	(0.96)	3.03
MCKSX	0.28	0.04	0.01	0.15	0.18	(0.33)	0.58	(0.49)	2.61
QDARX	0.06	0.01	(0.36)	0.98	0.00	(0.11)	0.16	(0.08)	0.31

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