State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDJX Fund  USD 16.65  0.15  0.91%   
The current 90-days correlation between State Street Target and Harbor Diversified International is -0.06 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

State Street Correlation With Market

Poor diversification

The correlation between State Street Target and DJI is 0.71 (i.e., Poor 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 inflation.

Moving together with State Mutual Fund

  1.0VFIFX Vanguard Target RetiPairCorr
  1.0AALTX American Funds 2050PairCorr
  1.0CCITX American Funds 2050PairCorr
  1.0FAITX American Funds 2050PairCorr
  1.0FFFHX Fidelity Freedom 2050PairCorr
  1.0FZTKX Fidelity Freedom 2050PairCorr
  1.0FRLPX Fidelity Freedom IndexPairCorr
  1.0TRJLX T Rowe PricePairCorr
  1.0FIPFX Fidelity Freedom IndexPairCorr
  0.98SMPSX Semiconductor UltrasectorPairCorr
  0.98SMPIX Semiconductor UltrasectorPairCorr
  0.95TREMX T Rowe PricePairCorr
  0.98ONERX One Rock FundPairCorr
  0.96TTEEX T Rowe PricePairCorr
  0.99FIKGX Fidelity Advisor SemPairCorr
  0.99FELIX Fidelity Advisor SemPairCorr
  0.99FSELX Fidelity Select SemiPairCorr
  0.99FELAX Fidelity Advisor SemPairCorr
  0.99FELTX Fidelity Advisor SemPairCorr
  0.96HBLYX Hartford BalancedPairCorr
  1.0DQIYX Dreyfus Equity IncomePairCorr
  0.97FDEGX Fidelity Growth StraPairCorr
  0.89ISIAX Voya Strategic IncomePairCorr
  0.98DCEMX Dunham Emerging MarketsPairCorr
  0.99CSRYX Columbia Select LargePairCorr
  1.0FNILX Fidelity Zero LargePairCorr
  1.0FFEGX Fidelity Freedom IndexPairCorr
  0.98EMAYX Enterprise Mergers AndPairCorr
  0.98LEVIX Lazard Equity CentratedPairCorr
  0.98FFFCX Fidelity Freedom 2010PairCorr
  0.98FASCX Franklin K2 AlternativePairCorr
  0.94RIVKX American Funds InterPairCorr
  0.96SPSDX Sterling Capital BehPairCorr
  1.0RRTAX T Rowe PricePairCorr
  0.95PSHAX Short Term FundPairCorr
  0.95FISVX Fidelity Small CapPairCorr

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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