State Street Correlations

Mutual Funds . USA . 
Fund . State Street Equity
SSEYX Fund  USD 529.58  9.48  1.76%   
The current 90-days correlation between State Street Equity and Small Midcap Dividend Income is 0.11 (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 Equity and DJI is 0.56 (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 Equity 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 Equity. 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 manufacturing.

Moving together with State Mutual Fund

  0.61SSAOX State Street TargetPairCorr
  0.67SSBYX State Street TargetPairCorr
  0.66SSBWX State Street TargetPairCorr
  0.73SSCKX State Street TargetPairCorr
  0.76SSCNX State Street TargetPairCorr
  0.73SSCJX State Street TargetPairCorr
  0.77SSCQX State Street TargetPairCorr
  0.66SSAWX State Street TargetPairCorr
  0.72SSAYX State Street TargetPairCorr
  0.64SSAUX State Street TargetPairCorr
  0.61SSBRX State Street TargetPairCorr
  0.61SSBSX State Street TargetPairCorr
  0.85SSDYX State Street TargetPairCorr
  0.78SSDEX State Street TargetPairCorr
  0.78SSDDX State Street TargetPairCorr
  0.82SSDOX State Street TargetPairCorr
  0.81SSDJX State Street TargetPairCorr
  0.81SSDLX State Street TargetPairCorr
  0.85SSDWX State Street TargetPairCorr
  0.83SSDQX State Street TargetPairCorr
  0.65SSGLX State Street GlobalPairCorr
  0.66SSGHX State Street GlobalPairCorr
  0.66SSGJX State Street GlobalPairCorr
  0.89SSFJX State Street TargetPairCorr
  0.89SSFKX 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   
TVOYX
+ 0.94
PMDDX
OWSMX
+ 0.94
PMDDX
ARTSX
+ 0.94
TVOYX
OWSMX
+ 0.94
TVOYX
ARTSX
+ 0.91
PMDDX
ARTSX
+ 0.89
QUAIX
  
High negative correlations   
ESCIX
- 0.17
PMDDX
ESCIX
- 0.14
ARTSX
ESCIX
- 0.08
QUAIX
ESCIX
- 0.07
TVOYX

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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