State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSBSX Fund  USD 12.98  0.07  0.54%   
The current 90-days correlation between State Street Target and Versatile Bond Portfolio is -0.09 (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

Significant diversification

The correlation between State Street Target and DJI is 0.05 (i.e., Significant 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 state.

Moving together with State Mutual Fund

  0.99SSAHX State Street TargetPairCorr
  0.89SSAJX State Street TargetPairCorr
  0.84SSADX State Street TargetPairCorr
  0.86SSAOX State Street TargetPairCorr
  0.62SSAQX State Street CorePairCorr
  0.88SSAKX State Street TargetPairCorr
  0.89SSBYX State Street TargetPairCorr
  0.9SSBWX State Street TargetPairCorr
  0.89SSCKX State Street TargetPairCorr
  0.88SSCNX State Street TargetPairCorr
  0.89SSCJX State Street TargetPairCorr
  0.88SSCQX State Street TargetPairCorr
  0.89SSAZX State Street TargetPairCorr
  0.85SSAUX State Street TargetPairCorr
  1.0SSBRX State Street TargetPairCorr
  0.85SSBNX State Street TargetPairCorr
  0.97SSBOX State Street TargetPairCorr
  0.84SSDYX State Street TargetPairCorr
  0.86SSDEX State Street TargetPairCorr
  0.86SSDDX State Street TargetPairCorr
  0.84SSDOX State Street TargetPairCorr
  0.85SSDJX State Street TargetPairCorr
  0.84SSDLX State Street TargetPairCorr
  0.84SSDWX State Street TargetPairCorr
  0.84SSDQX State Street TargetPairCorr
  0.84SSFJX State Street TargetPairCorr
  0.84SSFKX State Street TargetPairCorr
  0.84SSFNX State Street TargetPairCorr

Related Correlations Analysis

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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   
IOBZX
+ 0.87
PRVBX
USCBX
+ 0.77
MBSAX
MBSAX
+ 0.74
DSDYX
USCBX
+ 0.69
DSDYX
TPYYX
+ 0.54
MBSAX
MBSAX
+ 0.44
PRVBX
  
High negative correlations   
IOBZX
- 0.17
DSDYX

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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