State Street Correlations

SSHQX Fund

USD 128.76 0.34 0.26%

The current 90-days correlation between State Street Hedged and Rbc Emerging Markets 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

Significant diversification

The correlation between State Street Hedged and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding State Street Hedged 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 Hedged. 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 producer price index.

Moving together with State Mutual Fund

0.94	VGTSX	Vanguard Total Inter	Pair Corr
0.94	VTIAX	Vanguard Total Inter	Pair Corr
0.94	VTSNX	Vanguard Total Inter	Pair Corr
0.79	VTPSX	Vanguard Total Inter	Pair Corr
0.94	VTISX	Vanguard Total Inter	Pair Corr
0.96	VTMGX	Vanguard Developed	Pair Corr
0.96	VDVIX	Vanguard Developed	Pair Corr
0.96	VTMNX	Vanguard Developed	Pair Corr
0.96	VDIPX	Vanguard Developed	Pair Corr
0.94	FSPSX	Fidelity International	Pair Corr
0.74	GABFX	Gmo Asset Allocation	Pair Corr
0.76	GHVIX	Gmo High Yield	Pair Corr
0.74	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.69	JNJ	Johnson Johnson	Pair Corr
0.62	DD	Dupont De Nemours	Pair Corr
0.62	MMM	3M Company	Pair Corr
0.65	GE	GE Aerospace	Pair Corr
0.66	VZ	Verizon Communications	Pair Corr
0.71	IBM	International Business	Pair Corr
0.69	KO	Coca Cola	Pair Corr
0.62	MCD	McDonalds	Pair Corr

Moving against State Mutual Fund

0.31	GCAVX	Gmo Small Cap	Pair Corr
0.6	MRK	Merck Company	Pair Corr
0.44	AA	Alcoa Corp	Pair Corr
0.42	MSFT	Microsoft	Pair Corr
0.37	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	REMVX	TEOJX	XEMDX	IGIEX	CDHIX	APDOX	AMTOX
REMVX		0.99	0.47	0.83	0.92	0.75	0.67	REMVX
TEOJX	0.99		0.44	0.81	0.91	0.76	0.67	TEOJX
XEMDX	0.47	0.44		0.69	0.54	0.48	0.59	XEMDX
IGIEX	0.83	0.81	0.69		0.9	0.83	0.69	IGIEX
CDHIX	0.92	0.91	0.54	0.9		0.91	0.83	CDHIX
APDOX	0.75	0.76	0.48	0.83	0.91		0.88	APDOX
AMTOX	0.67	0.67	0.59	0.69	0.83	0.88		AMTOX
	REMVX	TEOJX	XEMDX	IGIEX	CDHIX	APDOX	AMTOX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
REMVX	0.80	0.09	0.12	0.12	0.94	(0.87)	1.67	(1.56)	5.76
TEOJX	0.78	0.10	0.14	0.19	0.92	(0.85)	1.54	(1.53)	5.83
XEMDX	0.22	(0.02)	0.00	(0.45)	0.00	0.00	0.47	(0.47)	1.41
IGIEX	0.25	0.01	0.16	0.02	0.30	(0.32)	0.72	(0.49)	1.58
CDHIX	0.68	0.11	0.13	0.11	0.83	(0.72)	1.44	(1.51)	4.90
APDOX	0.16	0.03	0.33	0.92	0.10	(0.18)	0.30	(0.29)	1.07
AMTOX	0.48	0.04	0.12	0.04	0.61	(0.55)	1.00	(1.10)	2.56

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