Elfun Income Correlations

Mutual Funds . USA . 
Fund . Elfun Income Fund
EINFX Fund  USD 9.71  0.04  0.41%   
The current 90-days correlation between Elfun Income and Jhancock Diversified Macro is 0.12 (i.e., Average diversification). The correlation of Elfun Income 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.

Elfun Income Correlation With Market

Good diversification

The correlation between Elfun Income Fund and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elfun Income Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elfun Income Fund. 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 census.

Moving together with Elfun Mutual Fund

  0.71SSAIX Ssga International StockPairCorr
  0.99SSAFX State Street AggregatePairCorr
  1.0SSASX State Street IncomePairCorr
  0.99SSFDX State Street AggregatePairCorr
  1.0SSFCX State Street AggregatePairCorr
  0.99SSFEX State Street AggregatePairCorr

Moving against Elfun Mutual Fund

  0.74SSAQX State Street CorePairCorr
  0.44SSAWX State Street TargetPairCorr
  0.33SSAOX State Street TargetPairCorr
  0.75SSEYX State Street EquityPairCorr
  0.43SSDYX State Street TargetPairCorr
  0.43SSDQX State Street TargetPairCorr
  0.42SSDOX State Street TargetPairCorr
  0.42SSDWX State Street TargetPairCorr
  0.41SSDLX State Street TargetPairCorr
  0.4SSDJX State Street TargetPairCorr
  0.39SSAUX State Street TargetPairCorr
  0.34SSDEX State Street TargetPairCorr
  0.34SSDDX State Street TargetPairCorr
  0.76SSFRX State Street EquityPairCorr
  0.75SSMLX State Street SmallmidPairCorr
  0.75SSMKX State Street SmallmidPairCorr
  0.75SSMHX State Street SmallmidPairCorr
  0.43SSFJX State Street TargetPairCorr
  0.43SSFKX State Street TargetPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
ADX
+ 0.88
RTOUX
OIDAX
+ 0.77
JDJRX
OIDAX
+ 0.74
ACDOX
RTOUX
+ 0.54
GABSX
ACDOX
+ 0.53
JDJRX
GABSX
+ 0.49
JDJRX
  
High negative correlations   
ADX
- 0.78
ACDOX
RTOUX
- 0.62
ACDOX
ADX
- 0.59
OIDAX
RTOUX
- 0.52
OIDAX
ADX
- 0.27
JDJRX
RTOUX
- 0.23
JDJRX

Risk-Adjusted Indicators

There is a big difference between Elfun Mutual Fund performing well and Elfun Income 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 Elfun Income'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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