State Street Correlations

S1TT34 Stock

BRL 570.00 0.00 0.00%

The current 90-days correlation between State Street and Cognizant Technology Solutions is -0.03 (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.

State Street Correlation With Market

Significant diversification

The correlation between State Street 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 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to State Street could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace State Street when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back State Street - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling State Street to buy it.

Moving together with State Stock

0.82	BLAK34	BlackRock	Pair Corr
0.89	B1AM34	Brookfield	Pair Corr
0.86	T1RO34	T Rowe Price Earnings Call This Week	Pair Corr
0.78	BONY34	The Bank	Pair Corr
0.86	BPAC5	Banco BTG Pactual	Pair Corr
0.86	BPAC3	Banco BTG Pactual	Pair Corr
0.75	I1VZ34	Invesco Earnings Call Tomorrow	Pair Corr
0.94	TSMC34	Taiwan Semiconductor	Pair Corr
0.72	NMRH34	Nomura Holdings	Pair Corr
0.61	MSFT34	Microsoft	Pair Corr
0.64	MUTC34	Micron Technology	Pair Corr

Moving against State Stock

0.64	TMCO34	Toyota Motor	Pair Corr
0.55	BRAP3	Bradespar SA	Pair Corr
0.42	HOND34	Honda Motor	Pair Corr

Related Correlations Analysis

	TOPP11	P1NR34	CTSH34	AALL34	M1CH34	W1AB34	CHCM34
TOPP11		0.29	0.17	0.22	-0.4	-0.07	0.5	TOPP11
P1NR34	0.29		-0.56	-0.45	-0.76	-0.76	-0.29	P1NR34
CTSH34	0.17	-0.56		0.48	0.34	0.56	0.65	CTSH34
AALL34	0.22	-0.45	0.48		0.5	0.66	0.57	AALL34
M1CH34	-0.4	-0.76	0.34	0.5		0.84	0.11	M1CH34
W1AB34	-0.07	-0.76	0.56	0.66	0.84		0.45	W1AB34
CHCM34	0.5	-0.29	0.65	0.57	0.11	0.45		CHCM34
	TOPP11	P1NR34	CTSH34	AALL34	M1CH34	W1AB34	CHCM34

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

W1AB34	+ 0.84	M1CH34
W1AB34	+ 0.66	AALL34
CHCM34	+ 0.65	CTSH34
CHCM34	+ 0.57	AALL34
W1AB34	+ 0.56	CTSH34
CHCM34	+ 0.5	TOPP11

High negative correlations

W1AB34	- 0.76	P1NR34
M1CH34	- 0.76	P1NR34
CTSH34	- 0.56	P1NR34
AALL34	- 0.45	P1NR34
M1CH34	- 0.4	TOPP11
CHCM34	- 0.29	P1NR34

Risk-Adjusted Indicators

There is a big difference between State Stock performing well and State Street Company 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TOPP11	0.80	0.00	(0.10)	0.13	0.87	(0.93)	1.55	(1.39)	5.13
P1NR34	0.21	(0.11)	0.00	(1.34)	0.00	0.00	0.00	0.00	6.52
CTSH34	0.44	(0.03)	(0.04)	0.06	0.87	(2.00)	0.26	(1.06)	14.60
AALL34	2.20	0.50	0.11	(3.93)	2.67	(2.28)	4.76	(4.61)	21.85
M1CH34	2.03	0.96	0.39	5.33	0.41	(3.84)	6.74	(1.96)	16.34
W1AB34	0.88	0.31	0.17	(1.73)	0.30	(1.41)	2.56	(1.33)	9.22
CHCM34	1.71	0.11	0.04	0.26	1.97	(2.06)	3.46	(3.54)	18.21

Be your own money manager

Our tools can tell you how much better you can do entering a position in State Street without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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