State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSFNX Fund  USD 11.56  0.02  0.17%   
The current 90-days correlation between State Street Target and State Street Target is -0.02 (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 0.78 (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 inflation.

Moving together with State Mutual Fund

  0.93SSAIX Ssga International StockPairCorr
  0.99SSBWX State Street TargetPairCorr
  0.98SSCNX State Street TargetPairCorr
  0.97SSCJX State Street TargetPairCorr
  0.98SSBRX State Street TargetPairCorr
  0.99SSDDX State Street TargetPairCorr
  0.99SSDOX State Street TargetPairCorr
  0.99SSDJX State Street TargetPairCorr
  0.97SSDWX State Street TargetPairCorr
  0.98SSIPX Ssga International StockPairCorr
  0.96VTINX Vanguard Target RetiPairCorr
  0.99LIRIX Blackrock Lifepath IdxPairCorr
  0.97LIRAX Blackrock Lfpth IdxPairCorr
  0.93JSIIX Jpmorgan SmartretirementPairCorr
  0.95JSIZX Jpmorgan SmartretirementPairCorr
  0.93JSIYX Jpmorgan SmartretirementPairCorr
  0.93JSIPX Jpmorgan SmartretirementPairCorr
  0.96JSIQX Jpmorgan SmartretirementPairCorr
  0.96FNSHX Fidelity Freedom IncomePairCorr
  0.95KF Korea ClosedPairCorr
  0.92SGGDX First Eagle GoldPairCorr
  0.9GOLDX Gabelli GoldPairCorr
  0.92UJPIX Ultrajapan ProfundPairCorr
  0.91OPGSX Oppenheimer Gold SpecPairCorr
  0.9FKRCX Franklin Gold PreciousPairCorr
  0.91EKWAX Wells Fargo AdvantagePairCorr
  0.92UNWPX World Precious MineralsPairCorr
  0.92PSPFX Global ResourcesPairCorr
  0.91FSAGX Gold Portfolio GoldPairCorr
  0.95RNCCX American Funds IncomePairCorr
  0.87KTRCX Deutsche Global IncomePairCorr
  0.86FTPIX Invesco TechnologyPairCorr
  0.92AMHIX American High IncomePairCorr
  0.92SADIX Wells Fargo UltraPairCorr
  0.92FLPSX Fidelity Low PricedPairCorr
  0.93FSLVX Fidelity Stock SelectorPairCorr
  0.94EMLKX Mfs Emerging MarketsPairCorr
  0.91MWSTX Metropolitan WestPairCorr
  0.89FSELX Fidelity Select SemiPairCorr

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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