State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDEX Fund  USD 16.01  0.01  0.06%   
The current 90-days correlation between State Street Target and Vanguard Target Retirement is 0.97 (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

Poor diversification

The correlation between State Street Target and DJI is 0.77 (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 signals in income.

Moving together with State Mutual Fund

  0.84SSAHX State Street TargetPairCorr
  0.97SSAJX State Street TargetPairCorr
  0.81SSADX State Street TargetPairCorr
  1.0SSAOX State Street TargetPairCorr
  0.84SSAQX State Street CorePairCorr
  0.99SSAKX State Street TargetPairCorr
  0.97SSBYX State Street TargetPairCorr
  0.97SSBWX State Street TargetPairCorr
  0.98SSCKX State Street TargetPairCorr
  1.0SSCNX State Street TargetPairCorr
  0.98SSCJX State Street TargetPairCorr
  1.0SSCQX State Street TargetPairCorr
  0.98SSAZX State Street TargetPairCorr
  1.0SSAUX State Street TargetPairCorr
  0.86SSBRX State Street TargetPairCorr
  0.86SSBSX State Street TargetPairCorr
  0.83SSBNX State Street TargetPairCorr
  0.78SSBOX State Street TargetPairCorr
  1.0SSDYX State Street TargetPairCorr
  0.82SSEYX State Street EquityPairCorr
  1.0SSDDX State Street TargetPairCorr
  1.0SSDOX State Street TargetPairCorr
  1.0SSDJX State Street TargetPairCorr
  1.0SSDLX State Street TargetPairCorr
  1.0SSDWX State Street TargetPairCorr
  1.0SSDQX State Street TargetPairCorr
  1.0SSFJX State Street TargetPairCorr
  0.99SSFKX State Street TargetPairCorr
  0.81SSFRX State Street EquityPairCorr
  0.82SSFNX State Street TargetPairCorr

Moving against State Mutual Fund

  0.34SSASX State Street IncomePairCorr
  0.31SSAFX State Street AggregatePairCorr
  0.34EINFX Elfun IncomePairCorr
  0.32SSFCX State Street AggregatePairCorr
  0.31SSFDX State Street AggregatePairCorr
  0.31SSFEX State Street AggregatePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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