State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDJX Fund  USD 17.38  0.01  0.06%   
The current 90-days correlation between State Street Target and Inverse Government Long is -0.21 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

State Street Correlation With Market

Very weak diversification

The correlation between State Street Target and DJI is 0.56 (i.e., Very weak 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

  0.86SSAIX Ssga International StockPairCorr
  1.0SSBWX State Street TargetPairCorr
  1.0SSCNX State Street TargetPairCorr
  1.0SSCJX State Street TargetPairCorr
  1.0SSBRX State Street TargetPairCorr
  1.0SSDDX State Street TargetPairCorr
  1.0SSDOX State Street TargetPairCorr
  0.99SSDWX State Street TargetPairCorr
  0.98SSFNX State Street TargetPairCorr
  0.92SSIPX Ssga International StockPairCorr
  0.94VFIFX Vanguard Target RetiPairCorr
  0.92AALTX American Funds 2050PairCorr
  0.94CCITX American Funds 2050PairCorr
  0.94FAITX American Funds 2050PairCorr
  0.94FIPFX Fidelity Freedom IndexPairCorr
  0.94FFOPX Fidelity Freedom IndexPairCorr
  0.96FFFHX Fidelity Freedom 2050PairCorr
  0.96FZTKX Fidelity Freedom 2050PairCorr
  0.96TRRMX T Rowe PricePairCorr
  0.89FTCOX Franklin Efolio AlloPairCorr
  0.81TILWX Tiaa Cref LargePairCorr
  0.81VNDFX Viking Tax FreePairCorr
  0.79SAGCX Clearbridge AggressivePairCorr
  0.91CAIBX Capital Income BuilderPairCorr
  0.79FVWSX Fidelity Series OppoPairCorr
  0.7VFINX Vanguard 500 IndexPairCorr
  0.9APHGX Artisan Global ValuePairCorr

Moving against State Mutual Fund

  0.87UIPIX Ultrashort Mid CapPairCorr
  0.74CESGX Coho Relative ValuePairCorr
  0.53USPSX Profunds UltrashortPairCorr
  0.51USPIX Profunds UltrashortPairCorr
  0.46TCSUX Cleartrack 2020 ClassPairCorr
  0.41TCTGX Transamerica CleartrackPairCorr
  0.4TDKTX Cleartrack 2015 ClassPairCorr
  0.4TCTJX Transamerica CleartrackPairCorr

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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