State Street Correlations

Money Market Funds USA . 
Fund . State Street Master
GVMXX Fund  USD 1.00  0.00  0.00%   
The current 90-days correlation between State Street Master and Touchstone Ultra Short is -0.04 (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

Significant diversification

The correlation between State Street Master and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding State Street Master and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in State Street Master. Also, note that the market value of any money market fund could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with State Money Market Fund

  0.79VTSAX Vanguard Total StockPairCorr
  0.8VFIAX Vanguard 500 IndexPairCorr
  0.79VTSMX Vanguard Total StockPairCorr
  0.8VITSX Vanguard Total StockPairCorr
  0.79VSTSX Vanguard Total StockPairCorr
  0.79VSMPX Vanguard Total StockPairCorr
  0.8VFINX Vanguard 500 IndexPairCorr
  0.79VFFSX Vanguard 500 IndexPairCorr
  0.83VGTSX Vanguard Total InterPairCorr
  0.82VTIAX Vanguard Total InterPairCorr
  0.81CISGX Touchstone Sands CapitalPairCorr
  0.81VMCPX Vanguard Mid CapPairCorr
  0.82USTCX Science TechnologyPairCorr
  0.79EMXCX Ashmore Emerging MarketsPairCorr
  0.74DIS Walt DisneyPairCorr
  0.77JPM JPMorgan ChasePairCorr
  0.68CSCO Cisco SystemsPairCorr
  0.74CAT CaterpillarPairCorr
  0.71MMM 3M CompanyPairCorr
  0.81MSFT Microsoft Sell-off TrendPairCorr
  0.67WMT WalmartPairCorr
  0.64IBM International BusinessPairCorr
  0.79BAC Bank of America Aggressive PushPairCorr
  0.78AXP American ExpressPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between State Money Market Fund performing well and State Street Money Market 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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