State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSCKX Fund  USD 15.75  0.05  0.32%   
The current 90-days correlation between State Street Target and Oil Gas Ultrasector is 0.03 (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

Good diversification

The correlation between State Street Target and DJI is -0.09 (i.e., Good 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 bureau of economic analysis.

Moving together with State Mutual Fund

  1.0SSAHX State Street TargetPairCorr
  0.86SSAIX Ssga International StockPairCorr
  0.89SSCNX State Street TargetPairCorr
  0.89SSCQX State Street TargetPairCorr
  1.0SSAYX State Street TargetPairCorr
  1.0SSBSX State Street TargetPairCorr
  1.0SSDYX State Street TargetPairCorr
  0.89SSDLX State Street TargetPairCorr
  0.89SSFKX State Street TargetPairCorr
  0.99SSFOX State Street TargetPairCorr
  0.86SSSYX 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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