State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDQX Fund  USD 18.36  0.01  0.05%   
The current 90-days correlation between State Street Target and Pimco Inflation Response is 0.51 (i.e., Very weak 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

Poor diversification

The correlation between State Street Target and DJI is 0.79 (i.e., 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 main economic indicators.

Moving together with State Mutual Fund

  0.91SSAHX State Street TargetPairCorr
  0.9SSAJX State Street TargetPairCorr
  0.92SSAOX State Street TargetPairCorr
  0.68SSAQX State Street CorePairCorr
  0.91SSAKX State Street TargetPairCorr
  1.0SSBYX State Street TargetPairCorr
  0.91SSCKX State Street TargetPairCorr
  1.0SSCQX State Street TargetPairCorr
  0.96SSAWX State Street TargetPairCorr
  0.91SSAZX State Street TargetPairCorr
  0.97SSAYX State Street TargetPairCorr
  0.94SSAUX State Street TargetPairCorr
  0.91SSBSX State Street TargetPairCorr
  0.97SSDYX State Street TargetPairCorr
  0.94SSEYX State Street EquityPairCorr
  0.92SSDEX State Street TargetPairCorr
  0.94SSDLX State Street TargetPairCorr
  0.96SSGLX State Street GlobalPairCorr
  0.96SSGHX State Street GlobalPairCorr
  0.96SSGJX State Street GlobalPairCorr
  0.97SSGVX State Street GlobalPairCorr
  1.0SSFJX State Street TargetPairCorr
  1.0SSFKX State Street TargetPairCorr
  0.95SSFRX State Street EquityPairCorr
  0.93SSFOX State Street TargetPairCorr
  0.88SSIQX Ssga International StockPairCorr
  0.88SSILX Ssga International StockPairCorr
  0.94SSHQX State Street HedgedPairCorr
  0.87SSKEX State Street EmergingPairCorr
  0.96SSMLX State Street SmallmidPairCorr
  0.96SSMKX State Street SmallmidPairCorr
  0.94SSMHX State Street SmallmidPairCorr
  0.93SSMJX State Street SmallmidPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PIRMX  0.26  0.02 (0.16) 0.18  0.21 
(0.31)
 0.54 
(0.43)
 1.62 
RYCOX  0.85  0.08  0.05  0.21  0.93 
(0.93)
 1.82 
(1.95)
 9.14 
AUEIX  0.90  0.39  0.52  64.88  0.00 
(1.24)
 0.85 
(0.92)
 26.97 
KYN  0.98  0.12  0.03  1.59  1.04 
(1.05)
 1.84 
(1.74)
 5.33 
CHTTX  0.91  0.31  0.35  0.59  0.07 
(1.12)
 2.12 
(0.85)
 16.32 
PRSIX  0.26  0.08  0.03  0.37  0.00 
(0.32)
 0.52 
(0.46)
 3.34 
PRASX  0.71  0.06  0.04  0.18  0.58 
(0.89)
 1.43 
(1.03)
 3.93 
TRPBX  0.39  0.12  0.15  0.42  0.00 
(0.47)
 0.75 
(0.60)
 5.81 
FZIPX  0.83  0.01  0.03  0.10  0.91 
(0.91)
 1.56 
(1.55)
 4.03 
JGIRX  0.78  0.06  0.06  0.14  0.87 
(0.85)
 1.63 
(1.67)
 9.69 

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