State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDLX Fund  USD 17.50  0.08  0.46%   
The current 90-days correlation between State Street Target and California Bond Fund is 0.15 (i.e., Average 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 0.63 (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 industry.

Moving together with STATE Mutual Fund

  0.92SSAHX State Street TargetPairCorr
  0.94SSAJX State Street TargetPairCorr
  1.0SSAOX State Street TargetPairCorr
  0.98SSAKX State Street TargetPairCorr
  0.93SSBYX State Street TargetPairCorr
  0.96SSCKX State Street TargetPairCorr
  0.97SSCQX State Street TargetPairCorr
  0.95SSAWX State Street TargetPairCorr
  0.97SSAZX State Street TargetPairCorr
  0.92SSAYX State Street TargetPairCorr
  1.0SSAUX State Street TargetPairCorr
  0.91SSBSX State Street TargetPairCorr
  0.95SSDYX State Street TargetPairCorr
  0.99SSDEX State Street TargetPairCorr
  0.98SSDQX State Street TargetPairCorr
  0.62SSGLX State Street GlobalPairCorr
  0.62SSGJX State Street GlobalPairCorr
  0.97SSFJX State Street TargetPairCorr
  0.97SSFKX State Street TargetPairCorr
  0.9SSFOX State Street TargetPairCorr
  0.68SSIQX Ssga International StockPairCorr
  0.68SSILX Ssga International StockPairCorr
  0.79SSMLX State Street SmallmidPairCorr
  0.8SSMKX State Street SmallmidPairCorr
  0.65SSMHX State Street SmallmidPairCorr
  0.77SSMJX State Street SmallmidPairCorr

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

FLDFX
+ 0.96
USCAX
FLDFX
+ 0.95
PAEIX
PATFX
+ 0.94
USCBX
USCAX
+ 0.9
PAEIX
BBHLX
+ 0.79
PAEIX
BBHLX
+ 0.71
FLDFX
  

High negative correlations

BBHLX
- 0.08
USCBX

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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