State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSCJX Fund  USD 15.64  0.02  0.13%   
The current 90-days correlation between State Street Target and State Street Target is 0.93 (i.e., Almost no 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

Almost no diversification

The correlation between State Street Target and DJI is 0.9 (i.e., Almost no 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 bureau of economic analysis.

Moving together with State Mutual Fund

  0.92SSAIX Ssga International StockPairCorr
  1.0SSBWX State Street TargetPairCorr
  1.0SSCNX State Street TargetPairCorr
  1.0SSBRX State Street TargetPairCorr
  1.0SSDDX State Street TargetPairCorr
  0.99SSDOX State Street TargetPairCorr
  1.0SSDJX State Street TargetPairCorr
  0.99SSDWX State Street TargetPairCorr
  0.99SSFNX State Street TargetPairCorr
  0.96SSIPX Ssga International StockPairCorr
  0.96VTTHX Vanguard Target RetiPairCorr
  0.94AAFTX American Funds 2035PairCorr
  0.95FAQTX American Funds 2035PairCorr
  0.94CCFTX American Funds 2035PairCorr
  0.96FFTHX Fidelity Freedom 2035PairCorr
  0.98FWTKX Fidelity Freedom 2035PairCorr
  0.95FIHFX Fidelity Freedom IndexPairCorr
  0.96FFEZX Fidelity Freedom IndexPairCorr
  0.97TRRJX T Rowe PricePairCorr
  0.92SMPIX Semiconductor UltrasectorPairCorr
  0.92SMPSX Semiconductor UltrasectorPairCorr
  0.89PMPSX Precious Metals UltrPairCorr
  0.89PMPIX Precious Metals UltrPairCorr
  0.94UJPIX Ultrajapan ProfundPairCorr
  0.89EKWYX Wells Fargo AdvantagePairCorr
  0.91FRGOX Franklin Gold PreciousPairCorr
  0.89EKWAX Wells Fargo AdvantagePairCorr
  0.89INIVX International InvestorsPairCorr
  0.96VTHRX Vanguard Target RetiPairCorr
  0.95BHYSX Blackrock Hi YldPairCorr
  0.97AAANX Horizon Active AssetPairCorr
  0.9MVCJX Mfs Mid CapPairCorr
  0.91TGWIX Tcw Emerging MarketsPairCorr
  0.9FGDIX Fidelity Advisor GoldPairCorr
  0.94BICPX Blackrock ConservativePairCorr
  0.86SCUIX Hartford Schroders SmallPairCorr
  0.92FLDZX Franklin Low DurationPairCorr
  0.97FDBTX American Funds 2015PairCorr

Moving against State Mutual Fund

  0.64UJPSX Ultrajapan ProfundPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SSAIX  0.63  0.19  0.21  0.32  0.47 
(0.72)
 1.36 
(1.30)
 3.43 
SSBWX  0.37  0.09  0.13  0.27  0.20 
(0.47)
 0.69 
(0.67)
 4.83 
SSCNX  0.48  0.11  0.15  0.25  0.32 
(0.58)
 0.90 
(0.87)
 5.95 
SSCJX  0.44  0.10  0.14  0.24  0.35 
(0.55)
 0.85 
(0.83)
 5.41 
SSBRX  0.27  0.07  0.11  0.27  0.00 
(0.34)
 0.55 
(0.47)
 3.21 
SSDDX  0.51  0.10  0.13  0.22  0.39 
(0.61)
 1.01 
(1.00)
 5.65 
SSDOX  0.53  0.08  0.10  0.16  0.49 
(0.63)
 1.06 
(1.21)
 4.01 
SSDJX  0.53  0.10  0.12  0.20  0.45 
(0.63)
 1.01 
(1.15)
 5.15 
SSDWX  0.52  0.08  0.09  0.15  0.51 
(0.58)
 1.03 
(1.18)
 3.63 
SSFNX  0.21  0.04  0.05  0.23  0.00 
(0.27)
 0.45 
(0.36)
 1.77 

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