State Street Correlations

STT-PG Preferred Stock

USD 24.65 0.23 0.94%

The current 90-days correlation between State Street and Legal General Group is -0.27 (i.e., Very 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.

The ability to find closely correlated positions to State Street could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace State Street when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back State Street - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling State Street to buy it.

Moving together with State Preferred Stock

0.68	PSEC-PA	Prospect Capital	Pair Corr
0.82	NTRSO	Northern Trust	Pair Corr
0.66	GGN-PB	GAMCO Global Gold	Pair Corr
0.67	OAK-PA	Oaktree Capital Group	Pair Corr
0.69	OAK-PB	Oaktree Capital Group	Pair Corr
0.67	GGT-PE	The Gabelli Multimedia	Pair Corr
0.61	GAINN	Gladstone Investment	Pair Corr
0.77	ECF-PA	Ellsworth Growth	Pair Corr

Moving against State Preferred Stock

0.55	BCGWW	Binah Capital Group,	Pair Corr
0.54	CIXXF	CI Financial Corp	Pair Corr
0.46	JPPYY	Jupai Holdings	Pair Corr
0.45	TRAC	Track Data	Pair Corr
0.45	HG	Hamilton Insurance Group,	Pair Corr
0.36	IX	Orix Corp Ads	Pair Corr
0.35	L	Loews Corp	Pair Corr
0.35	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.32	AX	Axos Financial	Pair Corr

Related Correlations Analysis

	GAB-PG	GGT-PE	GAB-PH	NCV-PA	CXH	EOT	FNCSF	LGGNY	IHTA	AFB
GAB-PG		0.92	0.98	0.89	0.66	0.84	0.51	0.17	0.51	0.5	GAB-PG
GGT-PE	0.92		0.93	0.88	0.7	0.74	0.55	0.18	0.53	0.57	GGT-PE
GAB-PH	0.98	0.93		0.91	0.69	0.84	0.52	0.15	0.52	0.53	GAB-PH
NCV-PA	0.89	0.88	0.91		0.65	0.8	0.28	0.44	0.26	0.65	NCV-PA
CXH	0.66	0.7	0.69	0.65		0.67	0.19	0.27	0.15	0.79	CXH
EOT	0.84	0.74	0.84	0.8	0.67		0.15	0.39	0.25	0.64	EOT
FNCSF	0.51	0.55	0.52	0.28	0.19	0.15		-0.57	0.93	-0.22	FNCSF
LGGNY	0.17	0.18	0.15	0.44	0.27	0.39	-0.57		-0.56	0.62	LGGNY
IHTA	0.51	0.53	0.52	0.26	0.15	0.25	0.93	-0.56		-0.23	IHTA
AFB	0.5	0.57	0.53	0.65	0.79	0.64	-0.22	0.62	-0.23		AFB
	GAB-PG	GGT-PE	GAB-PH	NCV-PA	CXH	EOT	FNCSF	LGGNY	IHTA	AFB

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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

GAB-PH	+ 0.98	GAB-PG
GAB-PH	+ 0.93	GGT-PE
IHTA	+ 0.93	FNCSF
GGT-PE	+ 0.92	GAB-PG
NCV-PA	+ 0.91	GAB-PH
NCV-PA	+ 0.89	GAB-PG

High negative correlations

LGGNY	- 0.57	FNCSF
IHTA	- 0.56	LGGNY
AFB	- 0.23	IHTA
AFB	- 0.22	FNCSF

Risk-Adjusted Indicators

There is a big difference between State Preferred Stock performing well and State Street Company 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GAB-PG	0.70	0.07	(0.01)	(2.97)	0.80	(0.76)	1.53	(1.22)	5.27
GGT-PE	0.46	0.05	(0.03)	0.41	0.60	(0.68)	1.44	(0.99)	5.53
GAB-PH	0.44	0.10	0.02	(4.71)	0.36	(0.49)	1.17	(0.93)	3.34
NCV-PA	0.48	0.04	(0.07)	(0.24)	0.67	(0.53)	1.08	(1.21)	3.97
CXH	0.31	0.03	(0.12)	(0.24)	0.38	(0.35)	0.62	(0.62)	2.10
EOT	0.35	0.01	(0.15)	0.65	0.38	(0.41)	0.79	(0.85)	2.07
FNCSF	1.32	0.54	0.13	(0.65)	0.89	(3.40)	4.16	(2.08)	12.12
LGGNY	0.92	(0.06)	0.00	0.28	0.00	0.00	2.01	(1.54)	4.83
IHTA	0.24	0.06	(0.05)	1.66	0.26	(0.30)	0.68	(0.28)	2.03
AFB	0.48	(0.01)	0.00	0.26	0.00	0.00	0.90	(0.94)	2.88

Be your own money manager

Our tools can tell you how much better you can do entering a position in State Street without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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State Street Corporate Management

Francisco Silva	Exec Advisor	Profile
Brian Franz	Chief VP	Profile
Aunoy Banerjee	Head VP	Profile
Michael Richards	Exec Officer	Profile
Andrew Erickson	Chief VP	Profile
Ronald OHanley	Chairman CEO	Profile
Andrew Zitney	Ex Services	Profile

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