State Street Correlations

Mutual Funds . USA . 
Fund . State Street Smallmid
SSMLX Fund  USD 337.73  4.21  1.26%   
The current 90-days correlation between State Street Smallmid and Small Cap Stock is -0.05 (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 Smallmid and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding State Street Smallmid 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 Smallmid. 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 board of governors.

Moving together with State Mutual Fund

  0.66SSAHX State Street TargetPairCorr
  0.7SSAJX State Street TargetPairCorr
  0.79SSAOX State Street TargetPairCorr
  0.76SSAKX State Street TargetPairCorr
  0.69SSBYX State Street TargetPairCorr
  0.73SSCKX State Street TargetPairCorr
  0.74SSCQX State Street TargetPairCorr
  0.83SSAWX State Street TargetPairCorr
  0.74SSAZX State Street TargetPairCorr
  0.82SSAYX State Street TargetPairCorr
  0.82SSAUX State Street TargetPairCorr
  0.64SSBSX State Street TargetPairCorr
  0.82SSDYX State Street TargetPairCorr
  0.77SSDEX State Street TargetPairCorr
  0.8SSDLX State Street TargetPairCorr
  0.82SSDQX State Street TargetPairCorr
  0.73SSGLX State Street GlobalPairCorr
  0.73SSGJX State Street GlobalPairCorr
  0.83SSFJX State Street TargetPairCorr
  0.83SSFKX State Street TargetPairCorr
  0.63SSFOX State Street TargetPairCorr
  1.0SSMKX State Street SmallmidPairCorr
  0.8SSMHX State Street SmallmidPairCorr
  0.81SSMJX State Street SmallmidPairCorr
  0.84SSQSX State Street InstituPairCorr

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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