State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSCNX Fund  USD 16.09  0.09  0.56%   
The current 90-days correlation between State Street Target and Jhancock Diversified Macro is 0.2 (i.e., Modest 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

Poor diversification

The correlation between State Street Target and DJI is 0.76 (i.e., 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 various price indices.

Moving together with State Mutual Fund

  0.85VFORX Vanguard Target RetiPairCorr
  0.86AAGTX American Funds 2040PairCorr
  0.85CCGTX American Funds 2040PairCorr
  0.85FAUTX American Funds 2040PairCorr
  0.86FFFFX Fidelity Freedom 2040PairCorr
  0.87FHTKX Fidelity Freedom 2040PairCorr
  0.85FBIFX Fidelity Freedom IndexPairCorr
  0.86FFIZX Fidelity Freedom IndexPairCorr
  0.84TRRDX T Rowe PricePairCorr
  0.8KF Korea ClosedPairCorr
  0.72RSNRX Victory Global NaturalPairCorr
  0.68SGGDX First Eagle GoldPairCorr
  0.65EKWAX Wells Fargo AdvantagePairCorr
  0.69PSPFX Global ResourcesPairCorr
  0.68OPGSX Oppenheimer Gold SpecPairCorr
  0.64GOLDX Gabelli GoldPairCorr
  0.66FSAGX Gold Portfolio GoldPairCorr
  0.71UNWPX World Precious MineralsPairCorr
  0.73CVX Chevron CorpPairCorr
  0.69XOM Exxon Mobil CorpPairCorr
  0.88BA BoeingPairCorr
  0.69INTC IntelPairCorr
  0.65CAT CaterpillarPairCorr

Moving against State Mutual Fund

  0.54HPQ HP IncPairCorr
  0.46T ATT Inc Earnings Call This WeekPairCorr
  0.35TRV The Travelers CompaniesPairCorr

Related Correlations Analysis


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

USCAX
+ 0.97
LBDRX
FVOKX
+ 0.96
HAIDX
WMCVX
+ 0.96
HAIDX
WMCVX
+ 0.94
FVOKX
USCAX
+ 0.93
WMCVX
USCAX
+ 0.91
HAIDX
  

High negative correlations

JDJRX
- 0.01
LBDRX

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
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