State Street Correlations

SSSYX Fund  USD 445.26  7.03  1.60%   
The current 90-days correlation between State Street Equity and L Mason Qs is 0.88 (i.e., Very poor 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 0.42 (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

  0.72SSAOX State Street TargetPairCorr
  0.7SSAKX State Street TargetPairCorr
  0.62SSBYX State Street TargetPairCorr
  0.61SSBWX State Street TargetPairCorr
  0.69SSCKX State Street TargetPairCorr
  0.72SSCNX State Street TargetPairCorr
  0.68SSCJX State Street TargetPairCorr
  0.65SSAZX State Street TargetPairCorr
  0.76SSAUX State Street TargetPairCorr
  0.82SSDYX State Street TargetPairCorr
  0.99SSEYX State Street EquityPairCorr
  0.74SSDEX State Street TargetPairCorr
  0.74SSDDX State Street TargetPairCorr
  0.78SSDOX State Street TargetPairCorr
  0.77SSDJX State Street TargetPairCorr
  0.78SSDLX State Street TargetPairCorr
  0.82SSDWX State Street TargetPairCorr
  0.79SSDQX State Street TargetPairCorr
  0.68SSGLX State Street GlobalPairCorr
  0.68SSGHX State Street GlobalPairCorr
  0.68SSGJX State Street GlobalPairCorr
  0.65SSGVX State Street GlobalPairCorr
  0.9SSFJX State Street TargetPairCorr
  0.89SSFKX State Street TargetPairCorr
  0.81SSFRX State Street EquityPairCorr
  0.63SSFNX State Street TargetPairCorr

Related Correlations Analysis

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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.