State Street Correlations

Mutual Funds USA . 
Fund . State Street Target
SSAWX Fund   16.66  0.07  0.42%   
The current 90-days correlation between State Street Target and Invesco Gold Special is 0.38 (i.e., Weak 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

Poor diversification

The correlation between State Street Target and DJI is 0.76 (i.e., 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 housing.

Moving together with State Mutual Fund

  0.69SSADX State Street TargetPairCorr
  0.91SSBSX State Street TargetPairCorr
  0.79SSBOX State Street TargetPairCorr
  0.85SSEYX State Street EquityPairCorr
  0.84SSSWX State Street EquityPairCorr
  0.94ELDFX Elfun DiversifiedPairCorr
  0.85ELFNX Elfun Trusts ElfunPairCorr
  0.99VFFVX Vanguard Target RetiPairCorr
  0.97FAJTX American Funds 2055PairCorr
  0.97AAMTX American Funds 2055PairCorr
  0.97CCJTX American Funds 2055PairCorr
  0.9FTYPX Fidelity Freedom IndexPairCorr
  0.97TRJMX T Rowe PricePairCorr
  0.88FDEEX Fidelity Freedom 2055PairCorr
  0.97FCTKX Fidelity Freedom 2055PairCorr
  0.9FDEWX Fidelity Freedom IndexPairCorr
  0.85VTSAX Vanguard Total StockPairCorr
  0.81VFIAX Vanguard 500 IndexPairCorr
  0.85VTSMX Vanguard Total StockPairCorr
  0.85VSMPX Vanguard Total StockPairCorr
  0.85VSTSX Vanguard Total StockPairCorr
  0.81VITSX Vanguard Total StockPairCorr
  0.81VFINX Vanguard 500 IndexPairCorr
  0.85VFFSX Vanguard 500 IndexPairCorr
  0.87AMECX Income FundPairCorr
  0.64BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.64JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.75WMT WalmartPairCorr
  0.65T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.62CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr

Moving against State Mutual Fund

  0.39MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
USERX
+ 0.97
IOGYX
AGGWX
+ 0.92
USERX
AGGWX
+ 0.91
IOGYX
AGGWX
+ 0.89
XGGNX
USERX
+ 0.86
XGGNX
XGGNX
+ 0.84
IOGYX
  
High negative correlations   
GCEBX
- 0.11
GLRBX
USERX
- 0.02
GLRBX
AGGWX
- 0.01
GLRBX

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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