State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSBWX Fund  USD 14.36  0.02  0.14%   
The current 90-days correlation between State Street Target and State Street Target is 0.08 (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 poor diversification

The correlation between State Street Target and DJI is 0.87 (i.e., Very poor 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 manufacturing.

Moving together with State Mutual Fund

  0.91SSAIX Ssga International StockPairCorr
  0.98SSCNX State Street TargetPairCorr
  0.98SSCJX State Street TargetPairCorr
  0.98SSBRX State Street TargetPairCorr
  0.98SSDDX State Street TargetPairCorr
  0.99SSDOX State Street TargetPairCorr
  0.98SSDJX State Street TargetPairCorr
  0.97SSDWX State Street TargetPairCorr
  0.98SSFNX State Street TargetPairCorr
  0.95SSIPX Ssga International StockPairCorr
  0.93VTHRX Vanguard Target RetiPairCorr
  0.98AAETX American Funds 2030PairCorr
  0.95CCETX American Funds 2030PairCorr
  0.93FAETX American Funds 2030PairCorr
  0.94FFFEX Fidelity Freedom 2030PairCorr
  0.94FGTKX Fidelity Freedom 2030PairCorr
  0.99FSNQX Fidelity Freedom 2030PairCorr
  0.94TRFHX T Rowe PricePairCorr
  0.65CII Blackrock EnhancedPairCorr
  0.85ETV Eaton Vance TaxPairCorr
  0.69CLM Cornerstone StrategicPairCorr
  0.67USA Liberty All StarPairCorr
  0.94NFJ Virtus Dividend InterestPairCorr
  0.72SMAPX Salient Mlp EnergyPairCorr
  0.95RBENX American Funds 2060PairCorr
  0.83VTARX Virtus Dfa 2040PairCorr
  0.84BSBAX Northern Short BondPairCorr
  0.87UBVSX Undiscovered ManagersPairCorr
  0.95BDOAX Blackrock Acwi ExusPairCorr
  0.93TSAIX Tiaa Cref LifestylePairCorr
  0.77JANIX Janus TritonPairCorr
  0.92HUMDX Huber Capital MidPairCorr
  0.95CUSDX Six Circles UltraPairCorr

Moving against State Mutual Fund

  0.6IIF Morgan Stanley IndiaPairCorr
  0.38IFN India ClosedPairCorr

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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