State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDQX Fund  USD 17.00  0.13  0.76%   
The current 90-days correlation between State Street Target and Thomas White Emerging is 0.64 (i.e., 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

Good diversification

The correlation between State Street Target and DJI is -0.03 (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

  0.98SSAHX State Street TargetPairCorr
  0.91SSAJX State Street TargetPairCorr
  0.91SSAOX State Street TargetPairCorr
  0.99SSAQX State Street CorePairCorr
  0.91SSAKX State Street TargetPairCorr
  1.0SSBYX State Street TargetPairCorr
  0.98SSBWX State Street TargetPairCorr
  0.91SSCNX State Street TargetPairCorr
  0.91SSCQX State Street TargetPairCorr
  0.91SSAWX State Street TargetPairCorr
  1.0SSAZX State Street TargetPairCorr
  1.0SSAYX State Street TargetPairCorr
  0.61SSASX State Street IncomePairCorr
  1.0SSAUX State Street TargetPairCorr
  0.9SSBRX State Street TargetPairCorr
  1.0SSDYX State Street TargetPairCorr
  0.92SSEYX State Street EquityPairCorr
  1.0SSDEX State Street TargetPairCorr
  0.91SSDDX State Street TargetPairCorr
  0.91SSDOX State Street TargetPairCorr
  0.91SSDJX State Street TargetPairCorr
  0.86SSGHX State Street GlobalPairCorr
  0.86SSGJX State Street GlobalPairCorr
  0.99SSGVX State Street GlobalPairCorr
  0.61SSFDX State Street AggregatePairCorr
  0.91SSFKX State Street TargetPairCorr
  0.61SSFRX State Street EquityPairCorr
  0.99SSFNX State Street TargetPairCorr
  0.97SSFOX State Street TargetPairCorr
  0.97SSILX Ssga International StockPairCorr
  0.85SSHQX State Street HedgedPairCorr

Related Correlations Analysis

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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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