State Street Correlations

SSBWX Fund

USD 13.99 0.04 0.29%

The current 90-days correlation between State Street Target and Red Oak Technology is 0.8 (i.e., Very poor 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 0.48 (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 producer price index.

Moving together with State Mutual Fund

0.87	SSDOX	State Street Target	Pair Corr
0.74	AAETX	American Funds 2030	Pair Corr
0.75	CCETX	American Funds 2030	Pair Corr
0.71	FFFEX	Fidelity Freedom 2030	Pair Corr
0.66	FGTKX	Fidelity Freedom 2030	Pair Corr
0.64	FSNQX	Fidelity Freedom 2030	Pair Corr

Related Correlations Analysis

	ROGSX	HTECX	PGKCX	TOWTX	VITAX	JNGTX	ICTEX
ROGSX		0.08	0.4	0.5	0.72	0.23	0.2	ROGSX
HTECX	0.08		0.37	0.7	0.13	0.83	0.74	HTECX
PGKCX	0.4	0.37		0.48	0.74	0.61	0.41	PGKCX
TOWTX	0.5	0.7	0.48		0.52	0.77	0.76	TOWTX
VITAX	0.72	0.13	0.74	0.52		0.35	0.14	VITAX
JNGTX	0.23	0.83	0.61	0.77	0.35		0.82	JNGTX
ICTEX	0.2	0.74	0.41	0.76	0.14	0.82		ICTEX
	ROGSX	HTECX	PGKCX	TOWTX	VITAX	JNGTX	ICTEX

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
ROGSX	1.06	(0.16)	0.00	(0.08)	0.00	0.00	1.81	(2.46)	9.27
HTECX	1.43	0.32	0.22	0.36	1.03	(1.72)	1.85	(2.12)	28.96
PGKCX	1.12	0.05	0.04	0.10	1.47	(1.10)	2.63	(2.74)	9.45
TOWTX	0.71	(0.05)	(0.05)	0.00	0.94	(0.72)	1.59	(1.33)	3.75
VITAX	1.01	(0.05)	(0.02)	0.02	1.69	(0.86)	2.05	(2.79)	5.84
JNGTX	1.18	0.19	0.12	0.22	1.27	(1.24)	2.42	(2.70)	19.25
ICTEX	1.37	0.37	0.29	0.29	0.92	(1.74)	1.85	(2.32)	30.28

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State Street Correlations

State Street Correlation With Market

Very weak diversification

Moving together with State Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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