State Street Correlations

SSCKX Fund

USD 15.35 0.06 0.39%

The current 90-days correlation between State Street Target and Blrc Sgy Mnp is -0.02 (i.e., Good 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 0.53 (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 state.

Moving together with State Mutual Fund

0.99	SSAHX	State Street Target	Pair Corr
0.75	SSAJX	State Street Target	Pair Corr
0.99	SSAOX	State Street Target	Pair Corr
0.76	SSAKX	State Street Target	Pair Corr
0.75	SSBYX	State Street Target	Pair Corr
1.0	SSCQX	State Street Target	Pair Corr
0.7	SSAWX	State Street Target	Pair Corr
0.76	SSAZX	State Street Target	Pair Corr
0.87	SSAYX	State Street Target	Pair Corr
0.96	SSAUX	State Street Target	Pair Corr
0.98	SSBSX	State Street Target	Pair Corr
0.9	SSDYX	State Street Target	Pair Corr
0.76	SSDEX	State Street Target	Pair Corr
0.76	SSDLX	State Street Target	Pair Corr
0.72	SSDQX	State Street Target	Pair Corr
0.92	SSFJX	State Street Target	Pair Corr
0.92	SSFKX	State Street Target	Pair Corr
0.73	SSFOX	State Street Target	Pair Corr
0.62	SSIQX	Ssga International Stock	Pair Corr
0.76	SSMJX	State Street Smallmid	Pair Corr

Related Correlations Analysis

	MDMTX	DLTNX	PRINX	TFBIX	CFNLX	USCBX	GHVIX
MDMTX		0.48	0.88	0.78	0.62	0.85	-0.01	MDMTX
DLTNX	0.48		0.65	0.71	0.69	0.6	0.49	DLTNX
PRINX	0.88	0.65		0.97	0.89	0.97	0.33	PRINX
TFBIX	0.78	0.71	0.97		0.96	0.94	0.49	TFBIX
CFNLX	0.62	0.69	0.89	0.96		0.88	0.67	CFNLX
USCBX	0.85	0.6	0.97	0.94	0.88		0.3	USCBX
GHVIX	-0.01	0.49	0.33	0.49	0.67	0.3		GHVIX
	MDMTX	DLTNX	PRINX	TFBIX	CFNLX	USCBX	GHVIX

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

TFBIX	+ 0.97	PRINX
USCBX	+ 0.97	PRINX
CFNLX	+ 0.96	TFBIX
USCBX	+ 0.94	TFBIX
CFNLX	+ 0.89	PRINX
PRINX	+ 0.88	MDMTX

High negative correlations

GHVIX

- 0.01

MDMTX

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
MDMTX	0.08	0.00	(0.38)	(0.91)	0.05	(0.15)	0.19	(0.10)	0.86
DLTNX	0.14	0.00	(0.24)	0.39	0.12	(0.20)	0.34	(0.22)	1.12
PRINX	0.07	0.01	(0.30)	(1.28)	0.00	(0.13)	0.18	(0.09)	0.71
TFBIX	0.07	0.01	(0.29)	(0.59)	0.00	(0.14)	0.20	(0.10)	0.60
CFNLX	0.06	0.01	(0.48)	4.17	0.00	(0.09)	0.11	(0.05)	0.48
USCBX	0.09	0.01	(0.31)	1.42	0.00	(0.15)	0.20	(0.19)	0.58
GHVIX	0.12	0.00	(0.24)	0.09	0.00	(0.15)	0.29	(0.23)	0.77

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