State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSBRX Fund  USD 12.89  0.04  0.31%   
The current 90-days correlation between State Street Target and Short Term Government Fund is 0.04 (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 0.6 (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 main economic indicators.

Moving together with State Mutual Fund

  0.82SSAIX Ssga International StockPairCorr
  0.94SSBWX State Street TargetPairCorr
  0.77SSCNX State Street TargetPairCorr
  1.0SSCJX State Street TargetPairCorr
  1.0SSDDX State Street TargetPairCorr
  0.94SSDOX State Street TargetPairCorr
  1.0SSDJX State Street TargetPairCorr
  0.93SSDWX State Street TargetPairCorr
  1.0SSFNX State Street TargetPairCorr
  0.95SSIPX Ssga International StockPairCorr
  0.74VTTVX Vanguard Target RetiPairCorr
  0.97AADTX American Funds 2025PairCorr
  0.75CCDTX American Funds 2025PairCorr
  0.72FAPTX American Funds 2025PairCorr
  0.95FSNPX Fidelity Freedom 2025PairCorr
  0.9FFTWX Fidelity Freedom 2025PairCorr
  0.95FDTKX Fidelity Freedom 2025PairCorr
  0.88TREHX T Rowe PricePairCorr
  0.68PARJX T Rowe PricePairCorr
  0.74ASG Liberty All StarPairCorr
  0.76USA Liberty All StarPairCorr
  0.67NFJ Virtus Dividend InterestPairCorr
  0.72EKJAX Wells Fargo PremierPairCorr
  0.91GICPX Gamco Global GrowthPairCorr
  0.95EMXCX Ashmore Emerging MarketsPairCorr
  0.91IEGAX Invesco InternationalPairCorr
  0.68JAENX Janus EnterprisePairCorr
  0.65FUNCX Pioneer FundamentalPairCorr
  0.79FRKMX Fidelity Managed RetPairCorr
  0.9CFJAX Calvert Large CapPairCorr
  0.85TSOHX Tiaa Cref SocialPairCorr

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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