State Street Correlations

Mutual Funds . USA . 
Fund . State Street Global
SSGLX Fund  USD 139.17  2.85  2.09%   
The current 90-days correlation between State Street Global and Adams Diversified Equity is 0.42 (i.e., Very weak 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 Global 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 Global 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 Global. 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

  0.98SSAHX State Street TargetPairCorr
  0.97SSAJX State Street TargetPairCorr
  0.98SSAOX State Street TargetPairCorr
  0.61SSAQX State Street CorePairCorr
  0.97SSAKX State Street TargetPairCorr
  0.97SSBYX State Street TargetPairCorr
  0.97SSCKX State Street TargetPairCorr
  0.97SSCQX State Street TargetPairCorr
  0.98SSAWX State Street TargetPairCorr
  0.97SSAZX State Street TargetPairCorr
  0.98SSAYX State Street TargetPairCorr
  0.98SSAUX State Street TargetPairCorr
  0.98SSBSX State Street TargetPairCorr
  0.98SSDYX State Street TargetPairCorr
  0.8SSEYX State Street EquityPairCorr
  0.98SSDEX State Street TargetPairCorr
  0.98SSDLX State Street TargetPairCorr
  0.97SSDQX State Street TargetPairCorr
  1.0SSGHX State Street GlobalPairCorr
  1.0SSGJX State Street GlobalPairCorr
  1.0SSGVX State Street GlobalPairCorr
  0.97SSFJX State Street TargetPairCorr
  0.97SSFKX State Street TargetPairCorr
  0.81SSFRX State Street EquityPairCorr
  0.98SSFOX State Street TargetPairCorr
  0.98SSIQX Ssga International StockPairCorr
  0.98SSILX Ssga International StockPairCorr
  0.98SSHQX State Street HedgedPairCorr
  0.97SSKEX State Street EmergingPairCorr
  0.92SSMLX State Street SmallmidPairCorr
  0.92SSMHX State Street SmallmidPairCorr
  0.92SSMJX State Street SmallmidPairCorr
  0.81SSSWX State Street EquityPairCorr

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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