State Street Correlations

Mutual Funds . USA . 
Fund . State Street Smallmid
SSMLX Fund  USD 340.83  0.58  0.17%   
The current 90-days correlation between State Street Smallmid and Virtus Convertible 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

Almost no diversification

The correlation between State Street Smallmid and DJI is 0.91 (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 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 industry.

Moving together with State Mutual Fund

  0.79SSAHX State Street TargetPairCorr
  0.8SSAJX State Street TargetPairCorr
  0.79SSAOX State Street TargetPairCorr
  0.66SSAQX State Street CorePairCorr
  0.8SSAKX State Street TargetPairCorr
  0.77SSBYX State Street TargetPairCorr
  0.79SSCKX State Street TargetPairCorr
  0.95SSCQX State Street TargetPairCorr
  0.8SSAZX State Street TargetPairCorr
  0.8SSAYX State Street TargetPairCorr
  0.8SSAUX State Street TargetPairCorr
  0.78SSBSX State Street TargetPairCorr
  0.8SSDYX State Street TargetPairCorr
  0.73SSEYX State Street EquityPairCorr
  0.79SSDEX State Street TargetPairCorr
  0.8SSDLX State Street TargetPairCorr
  0.77SSDQX State Street TargetPairCorr
  0.75SSGLX State Street GlobalPairCorr
  0.78SSGHX State Street GlobalPairCorr
  0.75SSGJX State Street GlobalPairCorr
  0.74SSGVX State Street GlobalPairCorr
  0.77SSFJX State Street TargetPairCorr
  0.77SSFKX State Street TargetPairCorr
  0.74SSFRX State Street EquityPairCorr
  0.78SSFOX State Street TargetPairCorr
  0.74SSIQX Ssga International StockPairCorr
  0.78SSILX Ssga International StockPairCorr
  0.81SSHQX State Street HedgedPairCorr
  0.71SSKEX State Street EmergingPairCorr
  0.87SSMKX State Street SmallmidPairCorr
  0.85SSMHX State Street SmallmidPairCorr
  0.87SSMJX State Street SmallmidPairCorr
  0.75SSSWX 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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