State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSFJX Fund  USD 18.45  0.12  0.65%   
The current 90-days correlation between State Street Target and State Street Target is 0.05 (i.e., Significant 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 0.9 (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 bureau of economic analysis.

Moving together with State Mutual Fund

  0.94SSAHX State Street TargetPairCorr
  0.94SSAJX State Street TargetPairCorr
  0.67SSAFX State Street AggregatePairCorr
  0.94SSAOX State Street TargetPairCorr
  0.94SSAKX State Street TargetPairCorr
  0.97SSBYX State Street TargetPairCorr
  0.94SSCKX State Street TargetPairCorr
  0.97SSCQX State Street TargetPairCorr
  0.96SSAWX State Street TargetPairCorr
  0.95SSAZX State Street TargetPairCorr
  0.96SSAYX State Street TargetPairCorr
  0.67SSASX State Street IncomePairCorr
  0.97SSAUX State Street TargetPairCorr
  0.94SSBSX State Street TargetPairCorr
  0.96SSDYX State Street TargetPairCorr
  0.75SSEYX State Street EquityPairCorr
  0.94SSDEX State Street TargetPairCorr
  0.95SSDLX State Street TargetPairCorr
  0.97SSDQX State Street TargetPairCorr
  0.97SSGLX State Street GlobalPairCorr
  0.97SSGHX State Street GlobalPairCorr
  0.97SSGJX State Street GlobalPairCorr
  0.96SSGVX State Street GlobalPairCorr
  0.68SSFDX State Street AggregatePairCorr
  0.69SSFCX State Street AggregatePairCorr
  1.0SSFKX State Street TargetPairCorr
  0.84SSFRX State Street EquityPairCorr
  0.98SSFPX State Street TargetPairCorr
  0.95SSFOX State Street TargetPairCorr
  0.97SSIQX Ssga International StockPairCorr
  0.97SSILX Ssga International StockPairCorr
  0.97SSHQX State Street HedgedPairCorr
  0.94SSKEX State Street EmergingPairCorr
  0.89SSMLX State Street SmallmidPairCorr
  0.94SSMKX State Street SmallmidPairCorr
  0.93SSMHX State Street SmallmidPairCorr
  0.94SSMJX 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SSAHX  0.27  0.08  0.09  0.35  0.00 
(0.34)
 0.54 
(0.46)
 3.33 
SSAJX  0.35  0.10  0.14  0.35  0.00 
(0.44)
 0.69 
(0.63)
 4.86 
SSAFX  0.14  0.02 (0.23)(3.32) 0.00 
(0.16)
 0.31 
(0.19)
 0.97 
SSAOX  0.49  0.12  0.14  0.28  0.29 
(0.59)
 0.95 
(0.99)
 5.60 
SSAQX  0.77  0.13  0.16  0.19  0.57 
(0.89)
 1.14 
(1.32)
 16.13 
SSAKX  0.47  0.12  0.16  0.31  0.22 
(0.59)
 0.89 
(0.92)
 5.91 
SSBYX  0.30  0.04  0.01  0.17  0.19 
(0.36)
 0.66 
(0.63)
 1.92 
SSCKX  0.43  0.12  0.15  0.33  0.11 
(0.54)
 0.84 
(0.82)
 5.34 
SSCQX  0.40  0.05  0.05  0.16  0.33 
(0.49)
 0.79 
(0.88)
 2.34 
SSAWX  0.51  0.10  0.11  0.22  0.38 
(0.59)
 1.05 
(0.92)
 4.09 

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