State Street Correlations

Mutual Funds USA . 
Fund . State Street Target
SSBRX Fund  USD 12.93  0.02  0.15%   
The current 90-days correlation between State Street Target and Pace Municipal Fixed is -0.01 (i.e., Good 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

Poor diversification

The correlation between State Street Target and DJI is 0.72 (i.e., Poor 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 metropolitan statistical area.

Moving together with State Mutual Fund

  0.9SSAHX State Street TargetPairCorr
  0.99SSAJX State Street TargetPairCorr
  0.88SSADX State Street TargetPairCorr
  0.84SSAOX State Street TargetPairCorr
  0.67SSAQX State Street CorePairCorr
  0.97SSAKX State Street TargetPairCorr
  0.99SSBYX State Street TargetPairCorr
  0.99SSBWX State Street TargetPairCorr
  0.98SSCKX State Street TargetPairCorr
  0.97SSCNX State Street TargetPairCorr
  0.98SSCJX State Street TargetPairCorr
  0.97SSCQX State Street TargetPairCorr
  0.99SSAZX State Street TargetPairCorr
  0.93SSAUX State Street TargetPairCorr
  1.0SSBSX State Street TargetPairCorr
  0.89SSBNX State Street TargetPairCorr
  0.98SSBOX State Street TargetPairCorr
  0.92SSDYX State Street TargetPairCorr
  0.66SSEYX State Street EquityPairCorr
  0.95SSDEX State Street TargetPairCorr
  0.95SSDDX State Street TargetPairCorr
  0.92SSDOX State Street TargetPairCorr
  0.92SSDJX State Street TargetPairCorr
  0.92SSDLX State Street TargetPairCorr
  0.92SSDWX State Street TargetPairCorr
  0.92SSDQX State Street TargetPairCorr
  0.91SSFJX State Street TargetPairCorr
  0.91SSFKX State Street TargetPairCorr
  0.65SSFRX State Street EquityPairCorr

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.

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