State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSBWX Fund  USD 13.94  0.01  0.07%   
The current 90-days correlation between State Street Target and Commodities Strategy Fund 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

Poor diversification

The correlation between State Street Target and DJI is 0.74 (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 housing.

Moving together with State Mutual Fund

  0.89SSAHX State Street TargetPairCorr
  1.0SSAJX State Street TargetPairCorr
  0.92SSADX State Street TargetPairCorr
  0.98SSAOX State Street TargetPairCorr
  0.71SSAQX State Street CorePairCorr
  0.99SSAKX State Street TargetPairCorr
  1.0SSBYX State Street TargetPairCorr
  1.0SSCKX State Street TargetPairCorr
  0.99SSCNX State Street TargetPairCorr
  1.0SSCJX State Street TargetPairCorr
  0.99SSCQX State Street TargetPairCorr
  1.0SSAZX State Street TargetPairCorr
  0.96SSAUX State Street TargetPairCorr
  0.9SSBRX State Street TargetPairCorr
  0.9SSBSX State Street TargetPairCorr
  0.94SSBNX State Street TargetPairCorr
  0.86SSBOX State Street TargetPairCorr
  0.95SSDYX State Street TargetPairCorr
  0.69SSEYX State Street EquityPairCorr
  0.97SSDEX State Street TargetPairCorr
  0.97SSDDX State Street TargetPairCorr
  0.95SSDOX State Street TargetPairCorr
  0.95SSDJX State Street TargetPairCorr
  0.95SSDLX State Street TargetPairCorr
  0.95SSDQX State Street TargetPairCorr
  0.95SSFJX State Street TargetPairCorr
  0.93SSFNX State Street TargetPairCorr
  0.93SSFOX State Street TargetPairCorr
  0.72SSHQX State Street HedgedPairCorr
  0.68SSKEX State Street EmergingPairCorr

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   
REVIX
+ 0.94
TEGCX
BXECX
+ 0.79
TEGCX
BOGSX
+ 0.77
APDOX
REVIX
+ 0.74
RYMBX
REVIX
+ 0.69
BXECX
TEGCX
+ 0.63
RYMBX
  
High negative correlations   
ANGCX
- 0.63
BOGSX
ANGCX
- 0.42
APDOX
ANGCX
- 0.25
RYMBX

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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