Elfun Diversified Correlations

Mutual Funds . USA . 
Fund . Elfun Diversified Fund
ELDFX Fund  USD 23.56  0.04  0.17%   
The current 90-days correlation between Elfun Diversified and Vanguard Financials Index is 0.57 (i.e., Very weak diversification). The correlation of Elfun Diversified 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 Diversified Correlation With Market

Very poor diversification

The correlation between Elfun Diversified Fund and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elfun Diversified 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 Diversified 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

  0.94SSAHX State Street TargetPairCorr
  0.76SSAJX State Street TargetPairCorr
  0.62SSAQX State Street CorePairCorr
  0.69SSAKX State Street TargetPairCorr
  0.99SSBYX State Street TargetPairCorr
  0.92SSCKX State Street TargetPairCorr
  0.66SSCQX State Street TargetPairCorr
  0.65SSAWX State Street TargetPairCorr
  0.67SSAZX State Street TargetPairCorr
  0.65SSAYX State Street TargetPairCorr
  0.65SSAUX State Street TargetPairCorr
  0.64SSBSX State Street TargetPairCorr
  0.66SSDYX State Street TargetPairCorr
  0.66SSEYX State Street EquityPairCorr
  0.67SSDEX State Street TargetPairCorr
  0.65SSDLX State Street TargetPairCorr
  0.65SSDQX State Street TargetPairCorr
  0.69SSGLX State Street GlobalPairCorr
  0.69SSGHX State Street GlobalPairCorr
  0.86SSGJX State Street GlobalPairCorr
  0.66SSGVX State Street GlobalPairCorr
  0.8SSFCX State Street AggregatePairCorr
  0.69SSFJX State Street TargetPairCorr
  0.69SSFKX State Street TargetPairCorr
  0.67SSFRX State Street EquityPairCorr
  0.62SSFOX State Street TargetPairCorr
  0.66SSIQX Ssga International StockPairCorr
  0.66SSILX Ssga International StockPairCorr
  0.85SSHQX State Street HedgedPairCorr
  0.76SSKEX State Street EmergingPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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