State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSFJX Fund  USD 17.79  0.10  0.57%   
The current 90-days correlation between State Street Target and Virtus Seix Government is 0.02 (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

Poor diversification

The correlation between State Street Target and DJI is 0.69 (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 bureau of economic analysis.

Moving together with State Mutual Fund

  0.86SSAHX State Street TargetPairCorr
  0.89SSAJX State Street TargetPairCorr
  0.97SSAOX State Street TargetPairCorr
  0.95SSAKX State Street TargetPairCorr
  0.88SSBYX State Street TargetPairCorr
  0.92SSCKX State Street TargetPairCorr
  0.93SSCQX State Street TargetPairCorr
  1.0SSAWX State Street TargetPairCorr
  0.93SSAZX State Street TargetPairCorr
  0.99SSAYX State Street TargetPairCorr
  0.99SSAUX State Street TargetPairCorr
  0.84SSBSX State Street TargetPairCorr
  1.0SSDYX State Street TargetPairCorr
  0.67SSEYX State Street EquityPairCorr
  0.96SSDEX State Street TargetPairCorr
  0.99SSDLX State Street TargetPairCorr
  1.0SSDQX State Street TargetPairCorr
  0.85SSGLX State Street GlobalPairCorr
  0.84SSGHX State Street GlobalPairCorr
  0.85SSGJX State Street GlobalPairCorr
  1.0SSFKX State Street TargetPairCorr
  0.77SSFRX State Street EquityPairCorr
  0.83SSFOX State Street TargetPairCorr
  0.68SSIQX Ssga International StockPairCorr
  0.68SSILX Ssga International StockPairCorr
  0.73SSHQX State Street HedgedPairCorr
  0.82SSMLX State Street SmallmidPairCorr
  0.82SSMKX State Street SmallmidPairCorr
  0.79SSMJX 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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