State Street Correlations

SSMKX Fund

USD 327.11 2.82 0.85%

The current 90-days correlation between State Street Smallmid and Schwab Treasury Money is 0.04 (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

Very poor diversification

The correlation between State Street Smallmid and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding State Street Smallmid 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 Smallmid. 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

0.69	SSAOX	State Street Target	Pair Corr
0.95	SSAQX	State Street Core	Pair Corr
0.65	SSAKX	State Street Target	Pair Corr
0.62	SSBYX	State Street Target	Pair Corr
0.61	SSBWX	State Street Target	Pair Corr
0.65	SSCKX	State Street Target	Pair Corr
0.7	SSCNX	State Street Target	Pair Corr
0.64	SSCJX	State Street Target	Pair Corr
0.71	SSCQX	State Street Target	Pair Corr
0.8	SSAWX	State Street Target	Pair Corr
0.62	SSAZX	State Street Target	Pair Corr
0.79	SSAUX	State Street Target	Pair Corr
0.81	SSDYX	State Street Target	Pair Corr
0.97	SSEYX	State Street Equity	Pair Corr
0.75	SSDEX	State Street Target	Pair Corr
0.75	SSDDX	State Street Target	Pair Corr
0.81	SSDOX	State Street Target	Pair Corr
0.74	SSDJX	State Street Target	Pair Corr
0.8	SSDLX	State Street Target	Pair Corr
0.81	SSDWX	State Street Target	Pair Corr
0.81	SSDQX	State Street Target	Pair Corr
0.81	SSFJX	State Street Target	Pair Corr
0.81	SSFKX	State Street Target	Pair Corr

Moving against State Mutual Fund

0.59	SSAFX	State Street Aggregate	Pair Corr
0.59	SSASX	State Street Income	Pair Corr
0.56	SSAIX	Ssga International Stock	Pair Corr
0.6	SSGLX	State Street Global	Pair Corr
0.6	SSGVX	State Street Global	Pair Corr
0.59	SSGHX	State Street Global	Pair Corr
0.59	SSGJX	State Street Global	Pair Corr
0.58	SSFDX	State Street Aggregate	Pair Corr
0.62	SSFCX	State Street Aggregate	Pair Corr
0.57	SSILX	Ssga International Stock	Pair Corr
0.56	SSIPX	Ssga International Stock	Pair Corr
0.56	SSIQX	Ssga International Stock	Pair Corr

Related Correlations Analysis

	SUTXX	HUCXX	PFCXX	GABXX	QCMMIX	STPXX	PBMXX
SUTXX		0.0	0.0	0.49	0.37	0.0	0.0	SUTXX
HUCXX	0.0		0.0	0.0	0.0	0.0	0.0	HUCXX
PFCXX	0.0	0.0		0.0	0.0	0.0	0.0	PFCXX
GABXX	0.49	0.0	0.0		0.65	0.0	0.0	GABXX
QCMMIX	0.37	0.0	0.0	0.65		0.0	0.0	QCMMIX
STPXX	0.0	0.0	0.0	0.0	0.0		0.0	STPXX
PBMXX	0.0	0.0	0.0	0.0	0.0	0.0		PBMXX
	SUTXX	HUCXX	PFCXX	GABXX	QCMMIX	STPXX	PBMXX

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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

QCMMIX	+ 0.65	GABXX
GABXX	+ 0.49	SUTXX
QCMMIX	+ 0.37	SUTXX
HUCXX	+ 0.0	SUTXX
PFCXX	+ 0.0	SUTXX
STPXX	+ 0.0	SUTXX

High negative correlations

PBMXX	- 0.0	STPXX
PBMXX	- 0.0	QCMMIX
STPXX	- 0.0	QCMMIX
PBMXX	- 0.0	GABXX
STPXX	- 0.0	GABXX
PBMXX	- 0.0	PFCXX

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	Treynor Ratio	Potential Upside	Maximum Drawdown
SUTXX	0.03	0.41	0.00	1.01
HUCXX	0.00	0.00	0.00	0.00
PFCXX	0.00	0.00	0.00	0.00
GABXX	0.03	0.35	0.00	1.01
QCMMIX	0.02	0.00	0.03	0.07
STPXX	0.00	0.00	0.00	0.00
PBMXX	0.00	0.00	0.00	0.00

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