State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSDOX Fund  USD 15.52  0.05  0.32%   
The current 90-days correlation between State Street Target and Small Cap Value is 0.05 (i.e., Significant 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 persons.

Moving together with State Mutual Fund

  0.97VFFVX Vanguard Target RetiPairCorr
  0.93FAJTX American Funds 2055PairCorr
  0.93AAMTX American Funds 2055PairCorr
  0.93CCJTX American Funds 2055PairCorr
  0.81FTYPX Fidelity Freedom IndexPairCorr
  0.95TRJMX T Rowe PricePairCorr
  0.96FDEEX Fidelity Freedom 2055PairCorr
  0.96FCTKX Fidelity Freedom 2055PairCorr
  0.96FDEWX Fidelity Freedom IndexPairCorr
  0.65VSTSX Vanguard Total StockPairCorr
  0.65VSMPX Vanguard Total StockPairCorr
  0.65VITSX Vanguard Total StockPairCorr
  0.66VFFSX Vanguard 500 IndexPairCorr
  0.66VFIAX Vanguard 500 IndexPairCorr
  0.63VINIX Vanguard InstitutionalPairCorr
  0.65VTSAX Vanguard Total StockPairCorr
  0.82PGLSX Global Multi StrategyPairCorr
  0.73WMT WalmartPairCorr
  0.65BA BoeingPairCorr

Moving against State Mutual Fund

  0.63MRK Merck CompanyPairCorr

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   
VSFSX
+ 0.97
ASVIX
ESCIX
+ 0.57
VSFSX
ESCIX
+ 0.49
ASVIX
AOPAX
+ 0.41
ESCIX
CSCVX
+ 0.4
AOPAX
CSCVX
+ 0.38
ASVIX
  
High negative correlations   
UCPIX
- 0.97
VSFSX
UCPIX
- 0.93
ASVIX
ESCIX
- 0.52
UCPIX
AOPAX
- 0.22
VSFSX
AOPAX
- 0.2
ASVIX
CSCVX
- 0.17
UCPIX

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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