State Farm Correlations

Mutual Funds . USA . 
Fund . State Farm Municipal
SFBDX Fund  USD 8.00  0.01  0.12%   
The current 90-days correlation between State Farm Municipal and State Farm Growth is 0.01 (i.e., Significant diversification). The correlation of State Farm 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 Farm Correlation With Market

Average diversification

The correlation between State Farm Municipal and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding State Farm Municipal 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 Farm Municipal. 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 unemployment.

Moving together with State Mutual Fund

  0.68STFGX State Farm GrowthPairCorr
  0.95STFBX State Farm BalancedPairCorr
  0.74SFITX State Farm InterimPairCorr
  0.92SIIAX State Farm InternationalPairCorr
  0.98VWITX Vanguard Intermediate-terPairCorr
  0.98VWIUX Vanguard Intermediate-terPairCorr
  0.83AFTEX Tax Exempt BondPairCorr
  0.83AFTFX Tax Exempt BondPairCorr
  0.79TEBCX Tax Exempt BondPairCorr
  0.86TEAFX Tax Exempt BondPairCorr
  0.86TFEBX Tax Exempt BondPairCorr
  0.99FLTMX Fidelity IntermediatePairCorr
  0.83MDNLX Blackrock NationalPairCorr
  0.77MFNLX Blackrock Natl MuniPairCorr
  0.92SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.92SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.78EMO Clearbridge Energy MlpPairCorr
  0.92RSNYX Victory Global NaturalPairCorr
  0.92RSNRX Victory Global NaturalPairCorr
  0.96HAHCX Hartford HighPairCorr
  0.94ARBIX Absolute ConvertiblePairCorr
  0.94DEMSX Emerging Markets SmallPairCorr
  0.64FSTGX Fidelity IntermediatePairCorr
  0.74LINPX Lord Abbett InternationalPairCorr
  0.89CIPMX Champlain Mid CapPairCorr
  0.72JIMXX Jpmorgan Trust IPairCorr
  0.94OAYGX Oakmark GlobalPairCorr
  0.94FCVFX Fidelity Advisor ValuePairCorr
  0.82RTSGX Transamerica Small CapPairCorr
  0.96RLBFX American BalancedPairCorr
  0.91FHKAX Fidelity China Region Steady GrowthPairCorr
  0.71NWALX Nationwide Bny MellonPairCorr
  0.78FLDBX Franklin Long DurationPairCorr
  0.68FMEXX Goldman Sachs TrustPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between State Mutual Fund performing well and State Farm 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 Farm'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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