State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDWX Fund  USD 18.61  0.15  0.80%   
The current 90-days correlation between State Street Target and Dunham Large Cap is 0.85 (i.e., Very poor 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 0.83 (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 housing.

Moving together with State Mutual Fund

  0.74SSAIX Ssga International StockPairCorr
  0.84SSBWX State Street TargetPairCorr
  1.0SSCNX State Street TargetPairCorr
  0.99SSCJX State Street TargetPairCorr
  0.81SSBRX State Street TargetPairCorr
  0.85SSDDX State Street TargetPairCorr
  0.85SSDOX State Street TargetPairCorr
  1.0SSDJX State Street TargetPairCorr
  0.79SSFNX State Street TargetPairCorr
  0.74SSIPX Ssga International StockPairCorr
  0.84AANTX American Funds 2060PairCorr
  0.85CCKTX American Funds 2060PairCorr
  0.98FAWTX American Funds 2060PairCorr
  0.99FFLEX Fidelity Freedom IndexPairCorr
  0.99FDKLX Fidelity Freedom IndexPairCorr
  0.99FDKVX Fidelity Freedom 2060PairCorr
  0.99FVTKX Fidelity Freedom 2060PairCorr
  0.97TRRLX T Rowe PricePairCorr
  0.97TRLNX T Rowe PricePairCorr
  0.89SPGSX State Street PremierPairCorr
  0.69KF Korea ClosedPairCorr
  0.71CUBAX Calvert UnconstrainedPairCorr
  0.83VASIX Vanguard LifestrategyPairCorr
  0.92VTMFX Vanguard Tax ManagedPairCorr
  0.66GBMFX Gmo Benchmark FreePairCorr
  0.88SAIPX Strategic Asset ManaPairCorr
  0.95VFWSX Vanguard Ftse AllPairCorr
  0.63THQ Tekla Healthcare OppPairCorr
  0.61CSURX Cohen Steers GlobalPairCorr
  0.61CLXRX Columbia Large CapPairCorr
  0.76TBWAX Thornburg Better WorldPairCorr

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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