State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDEX Fund  USD 17.01  0.03  0.18%   
The current 90-days correlation between State Street Target and Deutsche Gold Precious is 0.43 (i.e., Very weak 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

Very weak diversification

The correlation between State Street Target and DJI is 0.59 (i.e., Very 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 manufacturing.

Moving together with State Mutual Fund

  0.96SSAHX State Street TargetPairCorr
  0.98SSAJX State Street TargetPairCorr
  1.0SSAOX State Street TargetPairCorr
  1.0SSAKX State Street TargetPairCorr
  0.97SSBYX State Street TargetPairCorr
  0.99SSCKX State Street TargetPairCorr
  1.0SSCQX State Street TargetPairCorr
  0.91SSAWX State Street TargetPairCorr
  1.0SSAZX State Street TargetPairCorr
  0.77SSAUX State Street TargetPairCorr
  0.95SSBSX State Street TargetPairCorr
  0.92SSDYX State Street TargetPairCorr
  0.99SSDLX State Street TargetPairCorr
  0.95SSDQX State Street TargetPairCorr
  0.94SSFJX State Street TargetPairCorr
  0.94SSFKX State Street TargetPairCorr
  0.95SSFOX State Street TargetPairCorr
  0.67SSIQX Ssga International StockPairCorr
  0.63SSILX Ssga International StockPairCorr
  0.77SSMLX State Street SmallmidPairCorr
  0.77SSMKX State Street SmallmidPairCorr
  0.62SUSSX State Street InstituPairCorr

Related Correlations Analysis


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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