State Street Correlations

SSDOX Fund

USD 18.14 0.02 0.11%

The current 90-days correlation between State Street Target and Lord Abbett Short is -0.13 (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

Average diversification

The correlation between State Street Target and DJI is 0.11 (i.e., Average 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

0.62	DMB	Bny Mellon Municipal	Pair Corr
0.62	FIUIX	Fidelity Telecom And	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.77	CSCO	Cisco Systems Earnings Call This Week	Pair Corr
0.65	GE	GE Aerospace	Pair Corr

Moving against State Mutual Fund

0.77	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.73	T	ATT Inc	Pair Corr
0.72	VZ	Verizon Communications	Pair Corr
0.67	MCD	McDonalds	Pair Corr
0.67	HD	Home Depot	Pair Corr
0.6	BA	Boeing	Pair Corr
0.43	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	LSYFX	AHYMX	DMHIX	GHVIX	PATFX	FHYIX	TAHFX
LSYFX		0.9	0.88	0.94	0.89	0.88	0.97	LSYFX
AHYMX	0.9		0.92	0.9	0.94	0.94	0.87	AHYMX
DMHIX	0.88	0.92		0.9	1.0	1.0	0.84	DMHIX
GHVIX	0.94	0.9	0.9		0.91	0.91	0.94	GHVIX
PATFX	0.89	0.94	1.0	0.91		1.0	0.85	PATFX
FHYIX	0.88	0.94	1.0	0.91	1.0		0.84	FHYIX
TAHFX	0.97	0.87	0.84	0.94	0.85	0.84		TAHFX
	LSYFX	AHYMX	DMHIX	GHVIX	PATFX	FHYIX	TAHFX

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
LSYFX	0.12	0.01	(0.39)	0.14	0.00	(0.20)	0.42	(0.21)	1.02
AHYMX	0.11	0.02	(0.62)	0.94	0.00	(0.20)	0.34	(0.11)	0.78
DMHIX	0.17	0.00	(0.10)	0.00	0.00	(0.27)	0.51	(0.21)	1.15
GHVIX	0.13	0.00	(0.45)	0.08	0.00	(0.17)	0.28	(0.22)	1.01
PATFX	0.15	0.06	(0.20)	2.96	0.00	(0.22)	0.46	(0.19)	1.01
FHYIX	0.15	0.05	(0.26)	1.77	0.00	(0.26)	0.45	(0.22)	0.91
TAHFX	0.13	0.00	(0.41)	0.05	0.06	(0.17)	0.25	(0.24)	0.97

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