State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSBSX Fund  USD 12.79  0.03  0.24%   
The current 90-days correlation between State Street Target and Fidelity Advisor Health is 0.12 (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 weak diversification

The correlation between State Street Target and DJI is 0.43 (i.e., Very weak 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 real.

Moving together with State Mutual Fund

  1.0SSAHX State Street TargetPairCorr
  0.99SSAJX State Street TargetPairCorr
  0.94SSAOX State Street TargetPairCorr
  0.97SSAKX State Street TargetPairCorr
  1.0SSBYX State Street TargetPairCorr
  0.98SSCKX State Street TargetPairCorr
  0.98SSCQX State Street TargetPairCorr
  0.81SSAWX State Street TargetPairCorr
  0.98SSAZX State Street TargetPairCorr
  0.77SSAYX State Street TargetPairCorr
  0.9SSAUX State Street TargetPairCorr
  0.81SSDYX State Street TargetPairCorr
  0.96SSDEX State Street TargetPairCorr
  0.92SSDLX State Street TargetPairCorr
  0.85SSDQX State Street TargetPairCorr
  0.84SSFJX State Street TargetPairCorr
  0.84SSFKX State Street TargetPairCorr
  1.0SSFOX State Street TargetPairCorr
  0.69SSMLX State Street SmallmidPairCorr
  0.7SSMKX State Street SmallmidPairCorr
  0.67SSMJX State Street SmallmidPairCorr

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

ETAHX
+ 0.98
LYFAX
VGHCX
+ 0.96
ETAHX
VGHCX
+ 0.94
SWHFX
VGHCX
+ 0.93
LYFAX
PJHRX
+ 0.91
SWHFX
ETAHX
+ 0.86
SWHFX
  

High negative correlations

PJHRX
- 0.07
FHCCX

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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