State Street Correlations

Mutual Funds . USA . 
Fund . State Street Target
SSFKX Fund  USD 15.61  0.16  1.01%   
The current 90-days correlation between State Street Target and State Street Target is 0.97 (i.e., Almost no 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 0.57 (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 industry.

Moving together with State Mutual Fund

  0.61SSAJX State Street TargetPairCorr
  0.66SSAIX Ssga International StockPairCorr
  0.71SSAFX State Street AggregatePairCorr
  0.73SSAOX State Street TargetPairCorr
  0.73SSAKX State Street TargetPairCorr
  0.78SSBYX State Street TargetPairCorr
  0.77SSBWX State Street TargetPairCorr
  0.85SSCKX State Street TargetPairCorr
  0.87SSCNX State Street TargetPairCorr
  0.84SSCJX State Street TargetPairCorr
  0.88SSCQX State Street TargetPairCorr
  0.78SSAWX State Street TargetPairCorr
  0.69SSAZX State Street TargetPairCorr
  0.85SSAYX State Street TargetPairCorr
  0.7SSASX State Street IncomePairCorr
  0.77SSAUX State Street TargetPairCorr
  0.73SSBRX State Street TargetPairCorr
  0.73SSBSX State Street TargetPairCorr
  0.65SSBNX State Street TargetPairCorr
  0.66SSBOX State Street TargetPairCorr
  0.95SSDYX State Street TargetPairCorr
  0.89SSEYX State Street EquityPairCorr
  0.88SSDEX State Street TargetPairCorr
  0.88SSDDX State Street TargetPairCorr
  0.91SSDOX State Street TargetPairCorr
  0.9SSDJX State Street TargetPairCorr
  0.91SSDLX State Street TargetPairCorr
  0.94SSDWX State Street TargetPairCorr
  0.92SSDQX State Street TargetPairCorr
  0.89SSGLX State Street GlobalPairCorr
  0.89SSGHX State Street GlobalPairCorr
  0.89SSGJX State Street GlobalPairCorr
  0.81SSGVX State Street GlobalPairCorr
  0.69SSFDX State Street AggregatePairCorr
  0.7SSFCX State Street AggregatePairCorr
  0.99SSFJX State Street TargetPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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