State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSFNX Fund  USD 11.36  0.07  0.61%   
The current 90-days correlation between State Street Target and Ssga International Stock is 0.65 (i.e., Poor 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 0.62 (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 employment.

Moving together with State Mutual Fund

  0.88SSAIX Ssga International StockPairCorr
  0.99SSBWX State Street TargetPairCorr
  0.99SSCNX State Street TargetPairCorr
  0.99SSCJX State Street TargetPairCorr
  1.0SSBRX State Street TargetPairCorr
  0.99SSDDX State Street TargetPairCorr
  0.99SSDOX State Street TargetPairCorr
  0.99SSDJX State Street TargetPairCorr
  0.99SSDWX State Street TargetPairCorr
  0.95VTINX Vanguard Target RetiPairCorr
  0.97LIRIX Blackrock Lifepath IdxPairCorr
  0.97LIRAX Blackrock Lfpth IdxPairCorr
  0.93JSIIX Jpmorgan SmartretirementPairCorr
  0.93JSIZX Jpmorgan SmartretirementPairCorr
  0.94JSIYX Jpmorgan SmartretirementPairCorr
  0.93JSIPX Jpmorgan SmartretirementPairCorr
  0.94JSIQX Jpmorgan SmartretirementPairCorr
  0.97FNSHX Fidelity Freedom IncomePairCorr
  0.9FSMMX Fs Multi StrategyPairCorr
  0.93BTMPX Ishares Msci EafePairCorr
  0.95BTMKX Blackrock InternationalPairCorr
  0.95MDIIX Blackrock Intern IndexPairCorr
  0.64SPMPX Invesco Steelpath MlpPairCorr
  0.64MLPNX Oppenheimer Steelpath MlpPairCorr
  0.63MLPMX Oppenheimer Steelpath MlpPairCorr
  0.64SPMJX Invesco Steelpath MlpPairCorr
  0.89SKTAX Saat E MarketPairCorr
  0.95EXOSX Overseas Series ClassPairCorr
  0.84KDHIX Deutsche Croci EquityPairCorr
  0.92AWAYX Ab Wealth AppreciationPairCorr
  0.96TRGVX T Rowe PricePairCorr
  0.81WWLAX Westwood Largecap ValuePairCorr
  0.89LMBCX Qs Small CapitalizationPairCorr
  0.87AGDCX Ab High IncomePairCorr
  0.89FLPSX Fidelity Low PricedPairCorr
  0.93VTWIX Vanguard Total WorldPairCorr
  0.88ABVAX Ab Value FundPairCorr
  0.88TSMUX Tiaa-cref Small/mid-capPairCorr
  0.91FSELX 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SSAIX  0.53  0.11  0.12  0.23  0.43 
(0.63)
 1.19 
(1.06)
 3.22 
SSBWX  0.36  0.06  0.04  0.22  0.22 
(0.46)
 0.69 
(0.67)
 4.20 
SSCNX  0.47  0.07  0.07  0.21  0.37 
(0.55)
 0.89 
(0.87)
 5.02 
SSCJX  0.43  0.07  0.06  0.20  0.34 
(0.52)
 0.79 
(0.83)
 4.58 
SSBRX  0.26  0.04 (0.01) 0.21  0.11 
(0.33)
 0.50 
(0.49)
 2.74 
SSDDX  0.49  0.07  0.06  0.19  0.40 
(0.56)
 0.90 
(0.88)
 4.66 
SSDOX  0.51  0.04  0.03  0.13  0.54 
(0.57)
 0.98 
(1.01)
 2.98 
SSDJX  0.51  0.06  0.05  0.16  0.46 
(0.59)
 1.01 
(0.98)
 4.18 
SSDWX  0.50  0.04  0.02  0.12  0.52 
(0.54)
 1.01 
(1.02)
 2.69 
SSFNX  0.20  0.02 (0.10) 0.15  0.00 
(0.27)
 0.36 
(0.36)
 1.51 

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