State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDEX Fund  USD 17.05  0.08  0.47%   
The current 90-days correlation between State Street Target and Alpsalerian Energy Infrastructure is -0.08 (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

Average diversification

The correlation between State Street Target and DJI is 0.17 (i.e., Average 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 manufacturing.

Moving together with State Mutual Fund

  0.8SSAHX State Street TargetPairCorr
  0.98SSAJX State Street TargetPairCorr
  1.0SSAOX State Street TargetPairCorr
  1.0SSAKX State Street TargetPairCorr
  0.81SSBYX State Street TargetPairCorr
  0.82SSCKX State Street TargetPairCorr
  0.83SSCQX State Street TargetPairCorr
  0.75SSAWX State Street TargetPairCorr
  0.83SSAZX State Street TargetPairCorr
  0.87SSAYX State Street TargetPairCorr
  0.98SSAUX State Street TargetPairCorr
  0.79SSBSX State Street TargetPairCorr
  0.76SSDYX State Street TargetPairCorr
  0.83SSDLX State Street TargetPairCorr
  0.94SSDQX State Street TargetPairCorr
  0.78SSFJX State Street TargetPairCorr
  0.78SSFKX State Street TargetPairCorr
  0.95SSFOX State Street TargetPairCorr
  0.68SSIQX Ssga International StockPairCorr
  0.62SSILX Ssga International StockPairCorr

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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