State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDOX Fund  USD 18.59  0.09  0.49%   
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

Almost no diversification

The correlation between State Street Target and DJI is 0.93 (i.e., Almost no 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 metropolitan statistical area.

Moving together with State Mutual Fund

  0.94SSAIX Ssga International StockPairCorr
  0.99SSBWX State Street TargetPairCorr
  0.99SSCNX State Street TargetPairCorr
  0.99SSCJX State Street TargetPairCorr
  0.99SSBRX State Street TargetPairCorr
  1.0SSDDX State Street TargetPairCorr
  1.0SSDJX State Street TargetPairCorr
  1.0SSDWX State Street TargetPairCorr
  0.99SSFNX State Street TargetPairCorr
  0.97SSIPX Ssga International StockPairCorr
  0.98VFFVX Vanguard Target RetiPairCorr
  0.97AAMTX American Funds 2055PairCorr
  0.97FAJTX American Funds 2055PairCorr
  0.97CCJTX American Funds 2055PairCorr
  0.98FDEWX Fidelity Freedom IndexPairCorr
  0.98FFLDX Fidelity Freedom IndexPairCorr
  0.99FDEEX Fidelity Freedom 2055PairCorr
  0.99FCTKX Fidelity Freedom 2055PairCorr
  0.98TRRNX T Rowe PricePairCorr
  0.92SMPIX Semiconductor UltrasectorPairCorr
  0.91SMPSX Semiconductor UltrasectorPairCorr
  0.79MLPNX Oppenheimer Steelpath MlpPairCorr
  0.79OSPPX Oppenheimer Steelpath MlpPairCorr
  0.78MLPLX Oppenheimer Steelpath MlpPairCorr
  0.78SPMPX Invesco Steelpath MlpPairCorr
  0.94RSNYX Victory Global NaturalPairCorr
  0.78SPMJX Invesco Steelpath MlpPairCorr
  0.94RSNRX Victory Global NaturalPairCorr
  0.78MLPMX Oppenheimer Steelpath MlpPairCorr
  0.81SCAAX Conservative BalancedPairCorr
  0.92VHCAX Vanguard Capital OppPairCorr
  0.9GCEBX Goldman Sachs CleanPairCorr
  0.97RCFTX American Funds 2035PairCorr
  0.93AIHHX Aristotle Funds SeriesPairCorr
  0.94BXDCX Barings Active ShortPairCorr
  0.89SGPSX Small Cap GrowthPairCorr
  0.73GCFCX Goldman Sachs EPairCorr
  0.89LGOCX Legg Mason BwPairCorr

Moving against State Mutual Fund

  0.43PJFAX Prudential JennisonPairCorr

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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