State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDEX Fund  USD 16.83  0.07  0.41%   
The current 90-days correlation between State Street Target and Western Assets Emerging is -0.15 (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

Good diversification

The correlation between State Street Target and DJI is -0.14 (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 national income and product accounts.

Moving together with State Mutual Fund

  1.0VTIVX Vanguard Target RetiPairCorr
  0.98AAHTX American Funds 2045PairCorr
  0.98CCHTX American Funds 2045PairCorr
  0.99FATTX American Funds 2045PairCorr
  1.0FFFGX Fidelity Freedom 2045PairCorr
  1.0FJTKX Fidelity Freedom 2045PairCorr
  1.0FQIPX Fidelity Freedom IndexPairCorr
  0.99TRIKX T Rowe PricePairCorr
  0.74FIOFX Fidelity Freedom IndexPairCorr
  0.88BRUFX Bruce Fund BrucePairCorr
  0.97SPGSX State Street PremierPairCorr
  0.86KF Korea ClosedPairCorr
  0.82FEBDX Fidelity Advisor EnvPairCorr
  0.99FAHAX FahaxPairCorr
  0.92BXDYX Barings Active ShortPairCorr
  0.93PRWLX Diversified InternationalPairCorr
  0.94LMIYX Lord Abbett MicroPairCorr
  0.86VFIJX Vanguard GnmaPairCorr
  0.7PLAAX Pace Large GrowthPairCorr
  0.85JAGQX John Hancock TrustPairCorr
  0.95VWWYX VwwyxPairCorr
  0.95RTNCX Tax-managed InternationalPairCorr
  0.98ALFVX Lord Abbett AlphaPairCorr
  1.0LENAX Blackrock Lifepath EsgPairCorr
  0.96ASMOX Aqr Small CapPairCorr
  0.97DIFAX Mfs Diversified IncomePairCorr
  0.83FNDSX Fidelity SustainabilityPairCorr
  0.85CBOFX Intermediate BondPairCorr
  0.74TGVYX Growth OpportunitiesPairCorr
  0.77PNRZX Pgim Jennison NaturalPairCorr
  1.0AREMX One Choice 2055PairCorr
  0.91UPDDX Upright Growth IncomePairCorr
  0.71NUW Nuveen Amt FreePairCorr
  0.72RTIUX Tax-managed InternationalPairCorr

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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