State Street Expands PriceStats Offering with Additional Indicators
January 23 2020 - 3:30PM
Business Wire
Indicators Help Investors Gauge Relative Price Levels and
Competitiveness of Currencies in Near Real-Time
State Street Corporation (NYSE:STT) today announced an expansion
in coverage of State Street PriceStats Purchasing Power Parity
(PPP) Indicators, which measure real exchange rates (RERs) for
targeted economies with respect to the United States and, for
select countries, Germany. The expansion in coverage adds seven new
series to the existing eight, bringing the total number of PPP
series to 15.
State Street PriceStats PPP Indicators use online prices to
compute the relative cost of a basket of identical goods in each
country versus the US and/or Germany and signal RER deviations from
PPP or RER historical averages. Compared to other measures of PPP,
the State Street PriceStats Indicators have the advantage of using
a common basket of ~250 goods matched across countries including
food, electronics and fuel. Additionally, the State Street
PriceStats series are high-frequency (daily values) and updated on
a monthly basis with only a 3-day publication lag.
“The expansion of the PriceStats PPP indicators offers investors
a greater insight into the relative competitiveness of European
Economies,” said William Kinlaw, head of State Street Associates,
State Street’s academic affiliate. “New series for Germany against
the UK and Japan broaden the scope of our understanding of Euro
valuation against major trading partners, and the intra-Euro series
of Germany against France and Spain allows us to track competitive
trends within the Eurozone itself.”
“The consistent methodology we apply to our PPP indices will now
allow us to more accurately capture price differentials across
countries than traditional measures have previously offered,” says
Alberto Cavallo, assistant professor of applied economics at MIT
and Co-Founder of PriceStats. “Coupled with the high-frequency
nature of these series and increasing breadth we offer, investors
are able to better identify and react to currency mis-valuations
across markets in a timely way.”
The State Street PriceStats indicators build on the capabilities
of State Street’s academic think tank, State Street Associates
(SSA), a division of State Street Global Markets. SSA bridges the
worlds of financial theory and practice, develops proprietary
investment indicators, differentiated analytics applications and
tailored investment strategies for institutional investors around
the world.
About State Street Corporation
State Street Corporation (NYSE: STT) is the world's leading
provider of financial services to institutional investors including
investment servicing, investment management and investment research
and trading. With $34.36 trillion in assets under custody and
administration and $3.12 trillion* in assets under management as of
December 31, 2019, State Street operates globally in more than 100
geographic markets and employs approximately 39,000 worldwide. For
more information, visit State Street's website at
www.statestreet.com.
*Assets under management as of December 31, 2019 includes
approximately $45 billion of assets with respect to which State
Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as
marketing agent; SSGA FD and State Street Global Advisors are
affiliated.
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version on businesswire.com: https://www.businesswire.com/news/home/20200123005779/en/
Brendan Paul, 401-644-9182 bpaul2@statestreet.com
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