State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSADX Fund   10.71  0.00  0.00%   
The current 90-days correlation between State Street Target and International Investors Gold is 0.11 (i.e., Average 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

Weak diversification

The correlation between State Street Target and DJI is 0.34 (i.e., Weak 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 unemployment.

Moving together with State Mutual Fund

  0.75PARBX Trowe Price RetirementPairCorr
  0.75RRTBX Trowe Price RetirementPairCorr
  0.68FFFDX Fidelity Freedom 2020PairCorr
  0.84VTSAX Vanguard Total StockPairCorr
  0.84VFIAX Vanguard 500 IndexPairCorr
  0.84VTSMX Vanguard Total StockPairCorr
  0.84VSMPX Vanguard Total StockPairCorr
  0.84VSTSX Vanguard Total StockPairCorr
  0.84VITSX Vanguard Total StockPairCorr
  0.84VFINX Vanguard 500 IndexPairCorr
  0.84VFFSX Vanguard 500 IndexPairCorr
  0.78DIS Walt Disney Earnings Call TomorrowPairCorr
  0.81CSCO Cisco Systems Earnings Call Next WeekPairCorr
  0.72PFE Pfizer IncPairCorr
  0.8DD Dupont De NemoursPairCorr
  0.61HD Home Depot Earnings Call This WeekPairCorr
  0.71BAC Bank of America Aggressive PushPairCorr
  0.69IBM International Business Sell-off TrendPairCorr
  0.66MMM 3M CompanyPairCorr
  0.65AXP American ExpressPairCorr
  0.62JPM JPMorgan ChasePairCorr
  0.77AA Alcoa Corp Earnings Call This WeekPairCorr

Moving against State Mutual Fund

  0.78PAIPX Pimco Short AssetPairCorr
  0.74BA BoeingPairCorr
  0.34VZ Verizon Communications Aggressive PushPairCorr
  0.33TRV The Travelers CompaniesPairCorr
  0.32KO Coca ColaPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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