State Street Correlations

SSCNX Fund

USD 16.27 0.07 0.43%

The current 90-days correlation between State Street Target and State Street Target is 0.92 (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

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 inflation.

Moving together with State Mutual Fund

0.91	SSAIX	Ssga International Stock	Pair Corr
1.0	SSBWX	State Street Target	Pair Corr
0.98	SSCJX	State Street Target	Pair Corr
0.98	SSBRX	State Street Target	Pair Corr
0.98	SSDDX	State Street Target	Pair Corr
0.99	SSDOX	State Street Target	Pair Corr
1.0	SSDJX	State Street Target	Pair Corr
0.98	SSDWX	State Street Target	Pair Corr
0.99	SSFNX	State Street Target	Pair Corr
0.96	SSIPX	Ssga International Stock	Pair Corr
0.94	VFORX	Vanguard Target Reti	Pair Corr
0.95	AAGTX	American Funds 2040	Pair Corr
0.92	CCGTX	American Funds 2040	Pair Corr
0.93	FAUTX	American Funds 2040	Pair Corr
0.95	FFFFX	Fidelity Freedom 2040	Pair Corr
0.98	FHTKX	Fidelity Freedom 2040	Pair Corr
0.94	FBIFX	Fidelity Freedom Index	Pair Corr
0.94	FFIZX	Fidelity Freedom Index	Pair Corr
0.94	TRRDX	T Rowe Price	Pair Corr
0.85	ETV	Eaton Vance Tax	Pair Corr
0.94	NFJ	Virtus Dividend Interest	Pair Corr
0.94	NPNRX	Neuberger Berman Large	Pair Corr
0.74	JDJAX	Jhancock Diversified	Pair Corr
0.92	NOVIX	Glenmede International	Pair Corr
0.99	JLFIX	Retirement Living Through	Pair Corr
0.67	BAFFX	Brown Advisory Flexible	Pair Corr
0.87	AFTEX	Tax Exempt Bond	Pair Corr
0.93	TVFVX	Third Avenue Value	Pair Corr
0.89	FLSPX	Spectrum Fund Retail	Pair Corr
0.9	ACSCX	Small Cap Value	Pair Corr
0.83	APPLX	Appleseed Fund Appleseed	Pair Corr

Moving against State Mutual Fund

0.59

IIF

Morgan Stanley India

Pair Corr

Related Correlations Analysis

	SSAIX	SSBWX	SSCJX	SSBRX	SSDDX	SSDOX	SSDJX	SSDWX	SSFNX
SSAIX		0.91	0.92	0.93	0.92	0.93	0.92	0.94	0.95	SSAIX
SSBWX	0.91		0.98	0.98	0.98	0.99	1.0	0.98	0.99	SSBWX
SSCJX	0.92	0.98		1.0	1.0	0.98	0.98	0.99	0.98	SSCJX
SSBRX	0.93	0.98	1.0		1.0	0.98	0.98	0.99	0.98	SSBRX
SSDDX	0.92	0.98	1.0	1.0		0.98	0.98	0.99	0.98	SSDDX
SSDOX	0.93	0.99	0.98	0.98	0.98		1.0	0.98	0.99	SSDOX
SSDJX	0.92	1.0	0.98	0.98	0.98	1.0		0.98	0.99	SSDJX
SSDWX	0.94	0.98	0.99	0.99	0.99	0.98	0.98		0.98	SSDWX
SSFNX	0.95	0.99	0.98	0.98	0.98	0.99	0.99	0.98		SSFNX
	SSAIX	SSBWX	SSCJX	SSBRX	SSDDX	SSDOX	SSDJX	SSDWX	SSFNX

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
SSAIX	0.59	0.21	0.24	0.41	0.34	(0.69)	1.36	(1.10)	3.43
SSBWX	0.36	0.13	0.13	(1.67)	0.00	(0.47)	0.69	(0.63)	4.83
SSCJX	0.42	0.11	0.15	0.33	0.12	(0.55)	0.85	(0.78)	5.41
SSBRX	0.26	0.08	0.10	0.39	0.00	(0.34)	0.55	(0.41)	3.21
SSDDX	0.49	0.12	0.15	0.30	0.27	(0.60)	1.01	(0.88)	5.65
SSDOX	0.51	0.14	0.11	(1.32)	0.41	(0.63)	1.06	(1.01)	4.01
SSDJX	0.52	0.16	0.13	(1.37)	0.36	(0.62)	1.01	(0.98)	5.15
SSDWX	0.50	0.10	0.11	0.22	0.41	(0.58)	1.03	(1.01)	3.63
SSFNX	0.21	0.07	0.00	(2.01)	0.00	(0.27)	0.45	(0.36)	1.77

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