Elfun Income Correlations

Mutual Funds . USA . 
Fund . Elfun Income Fund
EINFX Fund  USD 9.73  0.02  0.21%   
The current 90-days correlation between Elfun Income and Angel Oak Multi Strategy is 0.69 (i.e., Poor 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

Modest diversification

The correlation between Elfun Income Fund and DJI is 0.2 (i.e., Modest 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 census.

Moving together with Elfun Mutual Fund

  0.62SSAIX Ssga International StockPairCorr
  0.99SSAFX State Street AggregatePairCorr
  0.63SSAOX State Street TargetPairCorr
  0.64SSAKX State Street TargetPairCorr
  0.68SSBYX State Street TargetPairCorr
  0.67SSBWX State Street TargetPairCorr
  0.71SSCKX State Street TargetPairCorr
  0.7SSCNX State Street TargetPairCorr
  0.7SSCJX State Street TargetPairCorr
  0.71SSCQX State Street TargetPairCorr
  0.64SSAWX State Street TargetPairCorr
  0.63SSAZX State Street TargetPairCorr
  0.69SSAYX State Street TargetPairCorr
  1.0SSASX State Street IncomePairCorr
  0.64SSAUX State Street TargetPairCorr
  0.66SSBRX State Street TargetPairCorr
  0.66SSBSX State Street TargetPairCorr
  0.63SSBNX State Street TargetPairCorr
  0.63SSBOX State Street TargetPairCorr
  0.7SSDYX State Street TargetPairCorr
  0.69SSDEX State Street TargetPairCorr
  0.69SSDDX State Street TargetPairCorr
  0.68SSDOX State Street TargetPairCorr
  0.69SSDJX State Street TargetPairCorr
  0.69SSDLX State Street TargetPairCorr
  0.7SSDWX State Street TargetPairCorr
  0.69SSDQX State Street TargetPairCorr
  0.8SSGLX State Street GlobalPairCorr
  0.81SSGHX State Street GlobalPairCorr
  0.8SSGJX State Street GlobalPairCorr
  0.71SSGVX State Street GlobalPairCorr
  0.99SSFDX State Street AggregatePairCorr
  0.99SSFCX State Street AggregatePairCorr
  0.68SSFJX State Street TargetPairCorr
  0.71SSFKX State Street TargetPairCorr

Related Correlations Analysis

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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.

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