Elfun Income Correlations

Mutual Funds . USA . 
Fund . Elfun Income Fund
EINFX Fund  USD 9.89  0.02  0.20%   
The current 90-days correlation between Elfun Income and State Street Target is 0.15 (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

Poor diversification

The correlation between Elfun Income Fund and DJI is 0.6 (i.e., Poor 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 price.

Moving together with Elfun Mutual Fund

  0.66SSAHX State Street TargetPairCorr
  0.65SSAJX State Street TargetPairCorr
  0.97SSAFX State Street AggregatePairCorr
  0.64SSAOX State Street TargetPairCorr
  0.64SSAKX State Street TargetPairCorr
  0.7SSBYX State Street TargetPairCorr
  0.65SSCKX State Street TargetPairCorr
  0.67SSCQX State Street TargetPairCorr
  0.65SSAWX State Street TargetPairCorr
  0.65SSAZX State Street TargetPairCorr
  0.65SSAYX State Street TargetPairCorr
  0.98SSASX State Street IncomePairCorr
  0.64SSAUX State Street TargetPairCorr
  0.67SSBSX State Street TargetPairCorr
  0.65SSDYX State Street TargetPairCorr
  0.65SSDEX State Street TargetPairCorr
  0.65SSDLX State Street TargetPairCorr
  0.66SSDQX State Street TargetPairCorr
  0.68SSGLX State Street GlobalPairCorr
  0.68SSGHX State Street GlobalPairCorr
  0.68SSGJX State Street GlobalPairCorr
  0.68SSGVX State Street GlobalPairCorr
  0.97SSFDX State Street AggregatePairCorr
  0.86SSFCX State Street AggregatePairCorr
  0.65SSFJX State Street TargetPairCorr
  0.65SSFKX State Street TargetPairCorr
  0.97SSFEX State Street AggregatePairCorr
  0.7SSFOX State Street TargetPairCorr
  0.68SSIQX Ssga International StockPairCorr
  0.67SSILX Ssga International StockPairCorr
  0.69SSHQX State Street HedgedPairCorr
  0.64SSKEX State Street EmergingPairCorr

Related Correlations Analysis


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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SSAHX  0.28  0.06  0.05  0.26  0.00 
(0.34)
 0.54 
(0.49)
 3.33 
SSAJX  0.37  0.08  0.09  0.27  0.17 
(0.43)
 0.69 
(0.66)
 4.86 
SSAFX  0.15  0.02 (0.22) 0.93  0.06 
(0.16)
 0.31 
(0.27)
 0.97 
SSAOX  0.51  0.09  0.09  0.22  0.42 
(0.58)
 0.95 
(1.05)
 5.60 
SSAQX  0.77  0.11  0.12  0.16  0.64 
(0.89)
 1.14 
(1.35)
 16.13 
SSAKX  0.49  0.09  0.10  0.24  0.37 
(0.57)
 0.89 
(0.92)
 5.91 
SSBYX  0.31  0.02 (0.03) 0.11  0.34 
(0.35)
 0.66 
(0.71)
 1.92 
SSCKX  0.45  0.09  0.10  0.25  0.32 
(0.53)
 0.84 
(0.83)
 5.34 
SSCQX  0.42  0.02  0.00  0.10  0.45 
(0.48)
 0.79 
(0.92)
 2.34 
SSAWX  0.52  0.07  0.06  0.16  0.50 
(0.57)
 1.05 
(1.14)
 4.09 

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