State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDYX Fund  USD 18.47  0.16  0.87%   
The current 90-days correlation between State Street Target and Ab Value Fund is -0.04 (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

Poor diversification

The correlation between State Street Target and DJI is 0.71 (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 unemployment.

Moving together with State Mutual Fund

  0.81SSAHX State Street TargetPairCorr
  0.72SSAJX State Street TargetPairCorr
  0.77SSAOX State Street TargetPairCorr
  0.92SSAKX State Street TargetPairCorr
  0.84SSBYX State Street TargetPairCorr
  0.89SSCKX State Street TargetPairCorr
  0.9SSCQX State Street TargetPairCorr
  1.0SSAWX State Street TargetPairCorr
  0.9SSAZX State Street TargetPairCorr
  0.78SSAYX State Street TargetPairCorr
  0.98SSAUX State Street TargetPairCorr
  0.8SSBSX State Street TargetPairCorr
  0.67SSEYX State Street EquityPairCorr
  0.94SSDEX State Street TargetPairCorr
  0.97SSDLX State Street TargetPairCorr
  1.0SSDQX State Street TargetPairCorr
  0.84SSGLX State Street GlobalPairCorr
  0.75SSGHX State Street GlobalPairCorr
  0.84SSGJX State Street GlobalPairCorr
  1.0SSFJX State Street TargetPairCorr
  1.0SSFKX State Street TargetPairCorr
  0.76SSFRX State Street EquityPairCorr
  0.79SSFOX State Street TargetPairCorr
  0.69SSIQX Ssga International StockPairCorr
  0.7SSILX Ssga International StockPairCorr
  0.73SSHQX State Street HedgedPairCorr
  0.81SSMLX State Street SmallmidPairCorr
  0.82SSMKX State Street SmallmidPairCorr
  0.82SSMJX 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

AUERX
+ 0.98
ABVCX
AUERX
+ 0.9
SCYVX
CHASX
+ 0.89
ABVCX
AUERX
+ 0.89
CHASX
SCYVX
+ 0.87
ABVCX
PARCX
+ 0.84
ABVCX
  

High negative correlations

SCYVX
- 0.07
PATFX

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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