State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSCJX Fund  USD 15.56  0.06  0.39%   
The current 90-days correlation between State Street Target and Small Midcap Dividend Income is 0.44 (i.e., Very weak 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 poor diversification

The correlation between State Street Target and DJI is 0.87 (i.e., Very 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 bureau of economic analysis.

Moving together with State Mutual Fund

  0.89SSAIX 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
  0.94SSIPX Ssga International StockPairCorr
  0.94VTTHX Vanguard Target RetiPairCorr
  0.92AAFTX American Funds 2035PairCorr
  0.94FAQTX American Funds 2035PairCorr
  0.92CCFTX American Funds 2035PairCorr
  0.95FFTHX Fidelity Freedom 2035PairCorr
  0.98FWTKX Fidelity Freedom 2035PairCorr
  0.93FIHFX Fidelity Freedom IndexPairCorr
  0.94FFEZX Fidelity Freedom IndexPairCorr
  0.96TRRJX T Rowe PricePairCorr
  0.7CII Blackrock EnhancedPairCorr
  0.81ETV Eaton Vance TaxPairCorr
  0.9CLM Cornerstone Strategic Sell-off TrendPairCorr
  0.92CRF Cornerstone Total Return Sell-off TrendPairCorr
  0.85USA Liberty All StarPairCorr
  0.93NFJ Virtus Dividend InterestPairCorr
  0.93MXXLX Great West LifetimePairCorr
  0.79PFMIX Municipal BondPairCorr
  0.74DRLIX Dreyfus Global RealPairCorr
  0.97GGGCX Gamco Global GrowthPairCorr
  0.82FTMAX Franklin TempletonPairCorr
  0.83SGACX American Beacon SgaPairCorr
  0.82BRSIX Ultra Small PanyPairCorr
  0.92WAYAX Western Asset HighPairCorr
  0.86NBRCX Neuberger Berman MidPairCorr
  0.79NEIAX Columbia Large CapPairCorr

Moving against State Mutual Fund

  0.56IIF Morgan Stanley IndiaPairCorr
  0.53IFN India ClosedPairCorr

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.

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