Elfun Trusts Correlations

ELFNX Fund  USD 97.83  0.01  0.01%   
The current 90-days correlation between Elfun Trusts Elfun and State Street Target is -0.01 (i.e., Good diversification). The correlation of Elfun Trusts 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 Trusts Correlation With Market

Poor diversification

The correlation between Elfun Trusts Elfun and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elfun Trusts Elfun 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 Trusts Elfun. 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 board of governors.

Moving together with Elfun Mutual Fund

  0.69SSAJX State Street TargetPairCorr
  0.82SSAOX State Street TargetPairCorr
  1.0SSAQX State Street CorePairCorr
  0.78SSAKX State Street TargetPairCorr
  0.71SSBYX State Street TargetPairCorr
  0.7SSBWX State Street TargetPairCorr
  0.73SSCKX State Street TargetPairCorr
  0.79SSCNX State Street TargetPairCorr
  0.73SSCJX State Street TargetPairCorr
  0.79SSCQX State Street TargetPairCorr
  0.72SSAZX State Street TargetPairCorr
  0.8SSAUX State Street TargetPairCorr
  0.64SSBRX State Street TargetPairCorr
  0.66SSBSX State Street TargetPairCorr
  0.88SSDYX State Street TargetPairCorr
  0.99SSEYX State Street EquityPairCorr
  0.83SSDEX State Street TargetPairCorr
  0.83SSDDX State Street TargetPairCorr
  0.88SSDOX State Street TargetPairCorr
  0.86SSDJX State Street TargetPairCorr
  0.87SSDLX State Street TargetPairCorr
  0.88SSDWX State Street TargetPairCorr
  0.88SSDQX State Street TargetPairCorr
  0.81SSFJX State Street TargetPairCorr
  0.82SSFKX State Street TargetPairCorr
  0.93SSFRX State Street EquityPairCorr

Moving against Elfun Mutual Fund

  0.71SSAFX State Street AggregatePairCorr
  0.69SSASX State Street IncomePairCorr
  0.36SSAIX Ssga International StockPairCorr
  0.71SSFDX State Street AggregatePairCorr
  0.71SSFCX State Street AggregatePairCorr
  0.71SSFEX State Street AggregatePairCorr
  0.35SSIPX Ssga International StockPairCorr
  0.35SSIQX Ssga International StockPairCorr
  0.35SSILX Ssga International StockPairCorr

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   
SSBYXSSAJX
SSBWXSSAJX
SSAKXSSAOX
SSBWXSSBYX
SSAKXSSAJX
SSBYXSSAKX
  
High negative correlations   
SSAQXSSAFX
SSAQXSSAIX
SSAOXSSAFX
SSAKXSSAFX
SSBYXSSAFX
SSBWXSSAFX

Risk-Adjusted Indicators

There is a big difference between Elfun Mutual Fund performing well and Elfun Trusts 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 Trusts' 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  0.27  0.00 (0.31) 0.62  0.31 
 0.55 
 1.57 
SSAJX  0.35 (0.03)(0.20) 0.04  0.41 
 0.72 
 2.04 
SSAIX  0.60 (0.11) 0.00 (0.13) 0.00 
 1.54 
 3.53 
SSADX  0.22  0.00 (0.40) 0.07  0.24 
 0.44 
 1.32 
SSAFX  0.21 (0.03) 0.00  0.62  0.00 
 0.43 
 1.45 
SSAOX  0.47 (0.04)(0.13) 0.06  0.57 
 0.96 
 2.77 
SSAQX  0.54 (0.02)(0.05) 0.09  0.70 
 1.15 
 3.98 
SSAKX  0.43 (0.04)(0.15) 0.05  0.52 
 0.85 
 2.47 
SSBYX  0.35 (0.03)(0.20) 0.05  0.41 
 0.72 
 2.11 
SSBWX  0.34 (0.03)(0.21) 0.05  0.39 
 0.79 
 1.98