State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDDX Fund  USD 16.67  0.08  0.48%   
The current 90-days correlation between State Street Target and Ab Discovery Value is 0.42 (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 weak diversification

The correlation between State Street Target and DJI is 0.59 (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 small area income & poverty estimates.

Moving together with State Mutual Fund

  0.64SSAIX Ssga International StockPairCorr
  0.97SSBWX State Street TargetPairCorr
  1.0SSCNX State Street TargetPairCorr
  0.99SSCJX State Street TargetPairCorr
  0.95SSBRX State Street TargetPairCorr
  0.96SSDOX State Street TargetPairCorr
  0.99SSDJX State Street TargetPairCorr
  0.94SSDWX State Street TargetPairCorr
  0.95SSFNX State Street TargetPairCorr
  0.64SSIPX Ssga International StockPairCorr
  0.79CCHTX American Funds 2045PairCorr
  0.61FIOFX Fidelity Freedom IndexPairCorr
  0.61FFOLX Fidelity Freedom IndexPairCorr
  0.61FAVPX Fidelity Freedom IndexPairCorr

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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