State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDLX Fund  USD 16.64  0.03  0.18%   
The current 90-days correlation between State Street Target and Lord Abbett Diversified is 0.88 (i.e., Very poor 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 poor diversification

The correlation between State Street Target and DJI is 0.89 (i.e., Very 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 bureau of economic analysis.

Moving together with State Mutual Fund

  1.0SSAHX State Street TargetPairCorr
  0.65SSAJX State Street TargetPairCorr
  0.97SSAIX Ssga International StockPairCorr
  0.62SSAFX State Street AggregatePairCorr
  1.0SSAOX State Street TargetPairCorr
  0.98SSAQX State Street CorePairCorr
  1.0SSAKX State Street TargetPairCorr
  1.0SSBYX State Street TargetPairCorr
  1.0SSBWX State Street TargetPairCorr
  0.65SSCKX State Street TargetPairCorr
  0.98SSCNX State Street TargetPairCorr
  0.73SSCJX State Street TargetPairCorr
  0.73SSCQX State Street TargetPairCorr
  0.73SSAWX State Street TargetPairCorr
  0.73SSAZX State Street TargetPairCorr
  0.99SSAYX State Street TargetPairCorr
  0.61SSASX State Street IncomePairCorr
  0.99SSAUX State Street TargetPairCorr
  0.64SSBRX State Street TargetPairCorr
  0.72SSBSX State Street TargetPairCorr
  0.69SSDYX State Street TargetPairCorr
  0.98SSEYX State Street EquityPairCorr
  1.0SSDEX State Street TargetPairCorr
  0.98SSDDX State Street TargetPairCorr
  0.66SSDJX State Street TargetPairCorr
  0.98SSDWX State Street TargetPairCorr
  0.73SSDQX State Street TargetPairCorr
  0.98SSGLX State Street GlobalPairCorr
  0.97SSGHX State Street GlobalPairCorr
  0.97SSGJX State Street GlobalPairCorr
  0.68SSGVX State Street GlobalPairCorr
  0.61SSFCX State Street AggregatePairCorr
  0.99SSFJX State Street TargetPairCorr
  0.73SSFKX State Street TargetPairCorr

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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