State Street Correlations

SSAOX Fund   14.97  0.24  1.63%   
The current 90-days correlation between State Street Target and Jhancock Diversified Macro is 0.15 (i.e., Average 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 weak diversification

The correlation between State Street Target and DJI is 0.53 (i.e., Very weak 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

  0.94SSAHX State Street TargetPairCorr
  0.97SSAJX State Street TargetPairCorr
  0.88SSADX State Street TargetPairCorr
  0.72SSAQX State Street CorePairCorr
  1.0SSAKX State Street TargetPairCorr
  0.92SSBYX State Street TargetPairCorr
  0.92SSBWX State Street TargetPairCorr
  0.94SSCKX State Street TargetPairCorr
  0.95SSCNX State Street TargetPairCorr
  0.94SSCJX State Street TargetPairCorr
  0.95SSCQX State Street TargetPairCorr
  0.99SSAWX State Street TargetPairCorr
  0.99SSAZX State Street TargetPairCorr
  0.94SSAYX State Street TargetPairCorr
  1.0SSAUX State Street TargetPairCorr
  0.89SSBRX State Street TargetPairCorr
  0.89SSBSX State Street TargetPairCorr
  0.83SSBNX State Street TargetPairCorr
  0.83SSBOX State Street TargetPairCorr
  0.94SSDYX State Street TargetPairCorr
  0.75SSEYX State Street EquityPairCorr
  0.95SSDEX State Street TargetPairCorr
  0.95SSDDX State Street TargetPairCorr
  0.95SSDOX State Street TargetPairCorr
  0.95SSDJX State Street TargetPairCorr
  0.95SSDLX State Street TargetPairCorr
  0.94SSDWX State Street TargetPairCorr
  0.95SSDQX State Street TargetPairCorr
  0.8SSFJX State Street TargetPairCorr
  0.86SSFKX State Street TargetPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
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High negative correlations   
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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.