State Street Correlations

Mutual Funds USA . 
Fund . State Street Hedged
SSHQX Fund  USD 125.83  0.92  0.74%   
The current 90-days correlation between State Street Hedged and Lord Abbett Health is 0.42 (i.e., Very weak 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 Hedged and DJI is 0.58 (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 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

  0.66SSAHX State Street TargetPairCorr
  0.73SSAJX State Street TargetPairCorr
  0.68SSAOX State Street TargetPairCorr
  0.75SSAKX State Street TargetPairCorr
  0.73SSBYX State Street TargetPairCorr
  0.73SSBWX State Street TargetPairCorr
  0.74SSCKX State Street TargetPairCorr
  0.75SSCNX State Street TargetPairCorr
  0.74SSCJX State Street TargetPairCorr
  0.75SSCQX State Street TargetPairCorr
  0.73SSAWX State Street TargetPairCorr
  0.75SSAZX State Street TargetPairCorr
  0.73SSAUX State Street TargetPairCorr
  0.69SSBRX State Street TargetPairCorr
  0.7SSBSX State Street TargetPairCorr
  0.62SSBOX State Street TargetPairCorr
  0.72SSDYX State Street TargetPairCorr
  0.74SSDEX State Street TargetPairCorr
  0.74SSDDX State Street TargetPairCorr
  0.72SSDOX State Street TargetPairCorr
  0.73SSDJX State Street TargetPairCorr
  0.73SSDLX State Street TargetPairCorr
  0.72SSDWX State Street TargetPairCorr
  0.72SSDQX State Street TargetPairCorr
  0.63SSGLX State Street GlobalPairCorr
  0.62SSGHX State Street GlobalPairCorr
  0.63SSGJX State Street GlobalPairCorr
  0.63SSGVX State Street GlobalPairCorr
  0.72SSFJX State Street TargetPairCorr
  0.72SSFKX 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.

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