State Street Correlations

SSCQX Fund  USD 15.71  0.03  0.19%   
The current 90-days correlation between State Street Target and Angel Oak Financial is 0.2 (i.e., Modest 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

Good diversification

The correlation between State Street Target and DJI is -0.12 (i.e., Good 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 producer price index.

Moving together with State Mutual Fund

  0.73SSAHX State Street TargetPairCorr
  0.66SSAIX Ssga International StockPairCorr
  0.73SSAOX State Street TargetPairCorr
  0.79SSAQX State Street CorePairCorr
  0.74SSAKX State Street TargetPairCorr
  0.74SSBYX State Street TargetPairCorr
  0.73SSBWX State Street TargetPairCorr
  0.85SSCKX State Street TargetPairCorr
  1.0SSCJX State Street TargetPairCorr
  1.0SSAWX State Street TargetPairCorr
  1.0SSAZX State Street TargetPairCorr
  0.84SSBRX State Street TargetPairCorr
  1.0SSBSX State Street TargetPairCorr
  0.86SSDYX State Street TargetPairCorr
  0.78SSEYX State Street EquityPairCorr
  0.74SSDEX State Street TargetPairCorr
  0.74SSDOX State Street TargetPairCorr
  0.85SSDJX State Street TargetPairCorr
  0.73SSDLX State Street TargetPairCorr
  1.0SSDQX State Street TargetPairCorr
  0.85SSGVX State Street GlobalPairCorr
  0.63SSFDX State Street AggregatePairCorr
  1.0SSFKX State Street TargetPairCorr
  0.75SSFRX State Street EquityPairCorr
  0.99SSFOX State Street TargetPairCorr
  0.76SSIPX Ssga International StockPairCorr
  0.96SSIQX Ssga International StockPairCorr
  0.96SSILX Ssga International StockPairCorr
  0.78SSHQX State Street HedgedPairCorr
  0.82SSKEX State Street EmergingPairCorr
  0.83SSMKX State Street SmallmidPairCorr
  0.83SSMHX State Street SmallmidPairCorr
  0.99SSMJX State Street SmallmidPairCorr

Related Correlations Analysis

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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   
MSVIXIAAEX
DVFYXIAAEX
DVFYXMSVIX
DVFYXFIDAX
FIDAXMSVIX
FIDAXPSSRX
  
High negative correlations   
DVFYXXFINX
MSVIXXFINX
IAAEXXFINX
FIDAXXFINX
PSSRXXFINX
MCBXXXFINX

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.