State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDOX Fund  USD 16.87  0.13  0.76%   
The current 90-days correlation between State Street Target and Lord Abbett Convertible is 0.05 (i.e., Significant 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

Significant diversification

The correlation between State Street Target and DJI is 0.02 (i.e., Significant 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 persons.

Moving together with State Mutual Fund

  0.98SSAHX State Street TargetPairCorr
  0.98SSAJX State Street TargetPairCorr
  0.97SSAIX Ssga International StockPairCorr
  0.98SSAOX State Street TargetPairCorr
  0.98SSAQX State Street CorePairCorr
  0.98SSAKX State Street TargetPairCorr
  0.98SSBYX State Street TargetPairCorr
  0.98SSBWX State Street TargetPairCorr
  0.98SSCKX State Street TargetPairCorr
  1.0SSCNX State Street TargetPairCorr
  0.98SSCJX State Street TargetPairCorr
  0.98SSCQX State Street TargetPairCorr
  0.98SSAWX State Street TargetPairCorr
  0.98SSAZX State Street TargetPairCorr
  0.98SSAYX State Street TargetPairCorr
  0.99SSAUX State Street TargetPairCorr
  0.98SSBRX State Street TargetPairCorr
  0.98SSBSX State Street TargetPairCorr
  0.99SSDYX State Street TargetPairCorr
  0.98SSEYX State Street EquityPairCorr
  0.98SSDEX State Street TargetPairCorr
  1.0SSDDX State Street TargetPairCorr
  0.99SSDJX State Street TargetPairCorr
  0.98SSDLX State Street TargetPairCorr
  1.0SSDWX State Street TargetPairCorr
  0.98SSDQX State Street TargetPairCorr
  0.98SSGLX State Street GlobalPairCorr
  0.99SSGHX State Street GlobalPairCorr
  0.99SSGJX State Street GlobalPairCorr
  0.98SSGVX State Street GlobalPairCorr
  0.99SSFJX State Street TargetPairCorr
  0.98SSFKX 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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