State Street Correlations

Mutual Funds . USA . 
Fund . State Street Smallmid
SSMLX Fund  USD 318.45  2.99  0.95%   
The current 90-days correlation between State Street Smallmid and Eventide Healthcare Life is 0.78 (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

Almost no diversification

The correlation between State Street Smallmid and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding State Street Smallmid 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 Smallmid. 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

  0.99SSAHX State Street TargetPairCorr
  0.99SSAJX State Street TargetPairCorr
  0.95SSAIX Ssga International StockPairCorr
  0.99SSAOX State Street TargetPairCorr
  0.99SSAQX State Street CorePairCorr
  0.99SSAKX State Street TargetPairCorr
  0.99SSBYX State Street TargetPairCorr
  0.99SSBWX State Street TargetPairCorr
  0.99SSCKX State Street TargetPairCorr
  0.99SSCNX State Street TargetPairCorr
  0.99SSCJX State Street TargetPairCorr
  0.99SSCQX State Street TargetPairCorr
  0.99SSAWX State Street TargetPairCorr
  0.99SSAZX State Street TargetPairCorr
  0.99SSAYX State Street TargetPairCorr
  0.99SSAUX State Street TargetPairCorr
  0.99SSBRX State Street TargetPairCorr
  0.99SSBSX State Street TargetPairCorr
  0.99SSDYX State Street TargetPairCorr
  0.99SSEYX State Street EquityPairCorr
  0.99SSDEX State Street TargetPairCorr
  0.99SSDDX State Street TargetPairCorr
  0.99SSDOX State Street TargetPairCorr
  0.99SSDJX State Street TargetPairCorr
  0.99SSDLX State Street TargetPairCorr
  0.99SSDWX State Street TargetPairCorr
  0.99SSDQX State Street TargetPairCorr
  0.97SSGLX State Street GlobalPairCorr
  0.97SSGHX State Street GlobalPairCorr
  0.97SSGJX State Street GlobalPairCorr
  0.97SSGVX State Street GlobalPairCorr
  0.99SSFJX State Street TargetPairCorr
  0.99SSFKX State Street TargetPairCorr

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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