State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSFNX Fund  USD 11.74  0.01  0.09%   
The current 90-days correlation between State Street Target and Pgim Jennison Technology is -0.09 (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

Poor diversification

The correlation between State Street Target and DJI is 0.77 (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 state.

Moving together with State Mutual Fund

  1.0SSAHX State Street TargetPairCorr
  0.99SSAJX State Street TargetPairCorr
  0.82SSAIX Ssga International StockPairCorr
  0.94SSAFX State Street AggregatePairCorr
  0.94SSAOX State Street TargetPairCorr
  0.93SSAQX State Street CorePairCorr
  0.99SSAKX State Street TargetPairCorr
  0.99SSBYX State Street TargetPairCorr
  0.99SSBWX State Street TargetPairCorr
  0.99SSCKX State Street TargetPairCorr
  0.99SSCNX State Street TargetPairCorr
  0.99SSCJX State Street TargetPairCorr
  0.99SSCQX State Street TargetPairCorr
  0.98SSAWX State Street TargetPairCorr
  0.99SSAZX State Street TargetPairCorr
  0.98SSAYX State Street TargetPairCorr
  0.93SSASX State Street IncomePairCorr
  0.98SSAUX State Street TargetPairCorr
  1.0SSBRX State Street TargetPairCorr
  1.0SSBSX State Street TargetPairCorr
  0.98SSDYX State Street TargetPairCorr
  0.96SSEYX State Street EquityPairCorr
  0.99SSDEX State Street TargetPairCorr
  0.99SSDDX State Street TargetPairCorr
  0.98SSDOX State Street TargetPairCorr
  0.99SSDJX State Street TargetPairCorr
  0.99SSDLX State Street TargetPairCorr
  0.98SSDWX State Street TargetPairCorr
  0.99SSDQX State Street TargetPairCorr
  0.96SSGLX State Street GlobalPairCorr
  0.91SSGHX State Street GlobalPairCorr
  0.96SSGJX State Street GlobalPairCorr
  0.96SSGVX State Street GlobalPairCorr
  0.94SSFDX State Street AggregatePairCorr
  0.94SSFCX State Street AggregatePairCorr
  0.98SSFJX State Street TargetPairCorr
  0.94SSFKX State Street TargetPairCorr
  0.94SSFEX State Street AggregatePairCorr
  0.96SSFRX 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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