Elfun International Correlations

EGLBX Fund

USD 24.58 0.16 0.66%

The current 90-days correlation between Elfun International and Morningstar Defensive Bond is 0.1 (i.e., Average diversification). The correlation of Elfun International 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 International Correlation With Market

Average diversification

The correlation between Elfun International Equity and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elfun International Equity 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 International Equity. 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 bureau of labor statistics.

Moving together with Elfun Mutual Fund

0.77	SSAHX	State Street Target	Pair Corr
0.77	SSAJX	State Street Target	Pair Corr
0.8	SSAIX	Ssga International Stock	Pair Corr
0.77	SSADX	State Street Target	Pair Corr
0.84	SSAFX	State Street Aggregate	Pair Corr
0.78	SSAOX	State Street Target	Pair Corr
0.78	SSAQX	State Street Core	Pair Corr
0.79	SSAKX	State Street Target	Pair Corr
0.88	SSBYX	State Street Target	Pair Corr
0.88	SSBWX	State Street Target	Pair Corr
0.86	SSCKX	State Street Target	Pair Corr
0.84	SSCNX	State Street Target	Pair Corr
0.86	SSCJX	State Street Target	Pair Corr
0.84	SSCQX	State Street Target	Pair Corr
0.75	SSAWX	State Street Target	Pair Corr
0.81	SSAZX	State Street Target	Pair Corr
0.84	SSASX	State Street Income	Pair Corr
0.76	SSAUX	State Street Target	Pair Corr
0.9	SSBRX	State Street Target	Pair Corr
0.89	SSBSX	State Street Target	Pair Corr
0.91	SSBNX	State Street Target	Pair Corr
0.9	SSBOX	State Street Target	Pair Corr
0.78	SSDYX	State Street Target	Pair Corr
0.83	SSDEX	State Street Target	Pair Corr
0.83	SSDDX	State Street Target	Pair Corr
0.8	SSDOX	State Street Target	Pair Corr
0.81	SSDJX	State Street Target	Pair Corr
0.81	SSDLX	State Street Target	Pair Corr
0.8	SSDQX	State Street Target	Pair Corr
0.96	SSGLX	State Street Global	Pair Corr
0.96	SSGHX	State Street Global	Pair Corr
0.96	SSGJX	State Street Global	Pair Corr
0.91	SSGVX	State Street Global	Pair Corr
0.82	SSFDX	State Street Aggregate	Pair Corr
0.84	SSFCX	State Street Aggregate	Pair Corr
0.67	SSFKX	State Street Target	Pair Corr
0.83	SSFEX	State Street Aggregate	Pair Corr

Related Correlations Analysis

	MSTBX	MBSAX	FMFXX	TFBIX	PRVBX	TBGAX	ARTFX
MSTBX		0.77	0.0	0.59	0.63	0.53	0.68	MSTBX
MBSAX	0.77		0.0	0.81	0.52	0.79	0.71	MBSAX
FMFXX	0.0	0.0		0.0	0.0	0.0	0.0	FMFXX
TFBIX	0.59	0.81	0.0		0.52	1.0	0.55	TFBIX
PRVBX	0.63	0.52	0.0	0.52		0.5	0.32	PRVBX
TBGAX	0.53	0.79	0.0	1.0	0.5		0.51	TBGAX
ARTFX	0.68	0.71	0.0	0.55	0.32	0.51		ARTFX
	MSTBX	MBSAX	FMFXX	TFBIX	PRVBX	TBGAX	ARTFX

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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

TBGAX	+ 1.0	TFBIX
TFBIX	+ 0.81	MBSAX
TBGAX	+ 0.79	MBSAX
MBSAX	+ 0.77	MSTBX
ARTFX	+ 0.71	MBSAX
ARTFX	+ 0.68	MSTBX

High negative correlations

ARTFX	- 0.0	FMFXX
TBGAX	- 0.0	FMFXX
PRVBX	- 0.0	FMFXX
TFBIX	- 0.0	FMFXX
FMFXX	- 0.0	MBSAX
FMFXX	- 0.0	MSTBX

Risk-Adjusted Indicators

There is a big difference between Elfun Mutual Fund performing well and Elfun International 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 International'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MSTBX	0.10	(0.01)	(0.15)	(0.50)	0.09	(0.15)	0.21	(0.21)	0.62
MBSAX	0.22	(0.01)	(0.08)	(0.15)	0.30	(0.23)	0.52	(0.51)	1.55
FMFXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TFBIX	0.20	(0.02)	0.00	(0.29)	0.00	0.00	0.40	(0.50)	1.59
PRVBX	0.10	(0.01)	(0.21)	(0.42)	0.10	(0.12)	0.17	(0.20)	0.58
TBGAX	0.23	(0.02)	0.00	(0.28)	0.00	0.00	0.46	(0.55)	1.75
ARTFX	0.12	0.01	(0.04)	1.29	0.00	(0.18)	0.44	(0.22)	1.10

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