State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDJX Fund  USD 17.71  0.05  0.28%   
The current 90-days correlation between State Street Target and State Street Target is 0.95 (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 0.88 (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 bureau of economic analysis.

Moving together with State Mutual Fund

  0.92SSAIX Ssga International StockPairCorr
  1.0SSBWX State Street TargetPairCorr
  1.0SSCNX State Street TargetPairCorr
  1.0SSCJX State Street TargetPairCorr
  0.98SSBRX State Street TargetPairCorr
  0.98SSDDX State Street TargetPairCorr
  1.0SSDOX State Street TargetPairCorr
  0.98SSDWX State Street TargetPairCorr
  1.0SSFNX State Street TargetPairCorr
  0.96SSIPX Ssga International StockPairCorr
  0.94VFIFX Vanguard Target RetiPairCorr
  0.96AALTX American Funds 2050PairCorr
  0.96CCITX American Funds 2050PairCorr
  0.93FAITX American Funds 2050PairCorr
  0.94FIPFX Fidelity Freedom IndexPairCorr
  0.94FFOPX Fidelity Freedom IndexPairCorr
  0.96FFFHX Fidelity Freedom 2050PairCorr
  0.96FZTKX Fidelity Freedom 2050PairCorr
  0.95TRRMX T Rowe PricePairCorr
  0.93FSMMX Fs Multi StrategyPairCorr
  0.96BTMPX Ishares Msci EafePairCorr
  0.95BTMKX Blackrock InternationalPairCorr
  0.95MDIIX Blackrock Intern IndexPairCorr
  0.81SPMPX Invesco Steelpath MlpPairCorr
  0.81MLPNX Oppenheimer Steelpath MlpPairCorr
  0.81MLPMX Oppenheimer Steelpath MlpPairCorr
  0.81SPMJX Invesco Steelpath MlpPairCorr
  0.96MOJOX Power Momentum IndexPairCorr
  0.94FHKIX Fidelity China RegionPairCorr
  0.99FSNLX Fidelity Freedom 2015PairCorr
  0.96NFFFX New World FundPairCorr
  0.93TASMX Transamerica Smallmid CapPairCorr
  0.96RAIWX Manning Napier RainierPairCorr
  0.76CAILX Lord Abbett CaliforniaPairCorr
  0.88CWFIX Chartwell Short DurationPairCorr
  0.76BOPAX Sterling Capital SpecialPairCorr
  0.94PEQCX Putnam Equity IncomePairCorr
  0.86NSBFX Nuveen Santa BarbaraPairCorr
  0.9TSVPX T Rowe PricePairCorr

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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