Correlation Between Elfun Government and Tiaa-cref Lifecycle
Can any of the company-specific risk be diversified away by investing in both Elfun Government and Tiaa-cref Lifecycle at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Elfun Government and Tiaa-cref Lifecycle into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Elfun Government Money and Tiaa Cref Lifecycle Retirement, you can compare the effects of market volatilities on Elfun Government and Tiaa-cref Lifecycle and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Elfun Government with a short position of Tiaa-cref Lifecycle. Check out your portfolio center. Please also check ongoing floating volatility patterns of Elfun Government and Tiaa-cref Lifecycle.
Diversification Opportunities for Elfun Government and Tiaa-cref Lifecycle
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Elfun and Tiaa-cref is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Elfun Government Money and Tiaa Cref Lifecycle Retirement in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tiaa Cref Lifecycle and Elfun Government is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Elfun Government Money are associated (or correlated) with Tiaa-cref Lifecycle. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tiaa Cref Lifecycle has no effect on the direction of Elfun Government i.e., Elfun Government and Tiaa-cref Lifecycle go up and down completely randomly.
Pair Corralation between Elfun Government and Tiaa-cref Lifecycle
If you would invest 1,135 in Tiaa Cref Lifecycle Retirement on May 27, 2025 and sell it today you would earn a total of 54.00 from holding Tiaa Cref Lifecycle Retirement or generate 4.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.92% |
| Values | Daily Returns |
Elfun Government Money vs. Tiaa Cref Lifecycle Retirement
Performance |
| Timeline |
| Elfun Government Money |
| Tiaa Cref Lifecycle |
Elfun Government and Tiaa-cref Lifecycle Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Elfun Government and Tiaa-cref Lifecycle
The main advantage of trading using opposite Elfun Government and Tiaa-cref Lifecycle positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Elfun Government position performs unexpectedly, Tiaa-cref Lifecycle can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Tiaa-cref Lifecycle will offset losses from the drop in Tiaa-cref Lifecycle's long position.| Elfun Government vs. Mesirow Financial Small | Elfun Government vs. Prudential Financial Services | Elfun Government vs. Transamerica Financial Life | Elfun Government vs. Financials Ultrasector Profund |
| Tiaa-cref Lifecycle vs. The Gamco Global | Tiaa-cref Lifecycle vs. Calamos Dynamic Convertible | Tiaa-cref Lifecycle vs. Virtus Convertible | Tiaa-cref Lifecycle vs. Advent Claymore Convertible |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the AI Portfolio Prophet module to use AI to generate optimal portfolios and find profitable investment opportunities.
Other Complementary Tools
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance |