State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSFOX Fund  USD 11.39  0.04  0.35%   
The current 90-days correlation between State Street Target and T Rowe Price is 0.06 (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

Very weak diversification

The correlation between State Street Target and DJI is 0.4 (i.e., Very weak 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 metropolitan statistical area.

Moving together with State Mutual Fund

  0.75SSAHX State Street TargetPairCorr
  0.75SSAJX State Street TargetPairCorr
  0.92SSAOX State Street TargetPairCorr
  0.76SSAKX State Street TargetPairCorr
  0.63SSBYX State Street TargetPairCorr
  0.97SSCKX State Street TargetPairCorr
  0.96SSCQX State Street TargetPairCorr
  0.71SSAWX State Street TargetPairCorr
  0.76SSAZX State Street TargetPairCorr
  0.7SSAYX State Street TargetPairCorr
  0.74SSAUX State Street TargetPairCorr
  0.74SSBSX State Street TargetPairCorr
  0.72SSDYX State Street TargetPairCorr
  0.94SSDEX State Street TargetPairCorr
  0.9SSDLX State Street TargetPairCorr
  0.73SSDQX State Street TargetPairCorr
  0.84SSFJX State Street TargetPairCorr
  0.73SSFKX State Street TargetPairCorr
  0.64SSILX Ssga International StockPairCorr
  0.61SSHQX State Street HedgedPairCorr
  0.61SSMLX State Street SmallmidPairCorr
  0.61SSMKX 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

PBNAX
+ 0.98
JAFLX
BBINX
+ 0.94
PRINX
MDMTX
+ 0.92
PRINX
PBNAX
+ 0.78
PRINX
JAFLX
+ 0.77
PRINX
BBINX
+ 0.77
JAFLX
  

High negative correlations

MDMTX
- 0.21
PRVBX
PRVBX
- 0.04
PRINX

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
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