State Street Correlations

SSDDX Fund

USD 14.96 0.04 0.27%

The current 90-days correlation between State Street Target and Boston Partners Small is -0.01 (i.e., Good 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 unemployment.

Moving together with State Mutual Fund

0.95	VTIVX	Vanguard Target Reti	Pair Corr
0.93	AAHTX	American Funds 2045	Pair Corr
0.92	CCHTX	American Funds 2045	Pair Corr
0.93	FATTX	American Funds 2045	Pair Corr
0.95	FFFGX	Fidelity Freedom 2045	Pair Corr
0.81	FJTKX	Fidelity Freedom 2045	Pair Corr
0.94	FQIPX	Fidelity Freedom Index	Pair Corr
0.94	FIOFX	Fidelity Freedom Index	Pair Corr
0.94	FFOLX	Fidelity Freedom Index	Pair Corr
0.79	PGLSX	Global Multi Strategy	Pair Corr
0.7	WMT	Walmart	Pair Corr
0.62	BA	Boeing	Pair Corr
0.75	JPM	JPMorgan Chase	Pair Corr

Moving against State Mutual Fund

0.31	PQTAX	Pimco Trends Managed	Pair Corr
0.64	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	BPSCX	ASVIX	PRDMX	PRSVX	LVAQX	VSFSX	SMVTX
BPSCX		0.94	0.96	0.99	0.92	0.99	0.94	BPSCX
ASVIX	0.94		0.9	0.97	0.96	0.97	0.97	ASVIX
PRDMX	0.96	0.9		0.95	0.87	0.95	0.91	PRDMX
PRSVX	0.99	0.97	0.95		0.96	1.0	0.96	PRSVX
LVAQX	0.92	0.96	0.87	0.96		0.95	0.93	LVAQX
VSFSX	0.99	0.97	0.95	1.0	0.95		0.95	VSFSX
SMVTX	0.94	0.97	0.91	0.96	0.93	0.95		SMVTX
	BPSCX	ASVIX	PRDMX	PRSVX	LVAQX	VSFSX	SMVTX

Click cells to compare fundamentals

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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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
BPSCX	0.83	(0.08)	(0.16)	1.51	(2.10)	4.06
ASVIX	0.95	(0.17)	(0.21)	1.23	(2.37)	6.50
PRDMX	1.34	(0.18)	(0.22)	1.84	(3.77)	7.15
PRSVX	0.82	(0.10)	(0.17)	1.28	(2.04)	4.44
LVAQX	0.83	(0.14)	(0.24)	1.18	(1.87)	3.80
VSFSX	0.87	(0.10)	(0.17)	1.48	(2.07)	5.18
SMVTX	1.01	(0.15)	(0.22)	1.39	(2.22)	9.55

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