State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDLX Fund  USD 17.66  0.12  0.67%   
The current 90-days correlation between State Street Target and T Rowe Price is 0.26 (i.e., Modest 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 0.89 (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 board of governors.

Moving together with State Mutual Fund

  0.98SSAHX State Street TargetPairCorr
  1.0SSAJX State Street TargetPairCorr
  0.61SSAFX State Street AggregatePairCorr
  1.0SSAOX State Street TargetPairCorr
  0.64SSAQX State Street CorePairCorr
  1.0SSAKX State Street TargetPairCorr
  0.96SSBYX State Street TargetPairCorr
  1.0SSCKX State Street TargetPairCorr
  0.96SSCQX State Street TargetPairCorr
  1.0SSAWX State Street TargetPairCorr
  1.0SSAZX State Street TargetPairCorr
  1.0SSAYX State Street TargetPairCorr
  1.0SSAUX State Street TargetPairCorr
  1.0SSBSX State Street TargetPairCorr
  1.0SSDYX State Street TargetPairCorr
  0.83SSEYX State Street EquityPairCorr
  1.0SSDEX State Street TargetPairCorr
  0.96SSDQX State Street TargetPairCorr
  0.98SSGLX State Street GlobalPairCorr
  0.96SSGHX State Street GlobalPairCorr
  0.98SSGJX State Street GlobalPairCorr
  0.97SSGVX State Street GlobalPairCorr
  0.64SSFDX State Street AggregatePairCorr
  0.96SSFJX State Street TargetPairCorr
  0.96SSFKX State Street TargetPairCorr
  0.64SSFEX State Street AggregatePairCorr
  0.84SSFRX State Street EquityPairCorr
  1.0SSFOX State Street TargetPairCorr
  0.95SSIQX Ssga International StockPairCorr
  0.95SSILX Ssga International StockPairCorr
  0.97SSHQX State Street HedgedPairCorr
  0.92SSKEX State Street EmergingPairCorr
  0.96SSMLX State Street SmallmidPairCorr
  0.96SSMKX State Street SmallmidPairCorr
  0.95SSMHX State Street SmallmidPairCorr
  0.96SSMJX State Street SmallmidPairCorr

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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