Elfun Diversified Correlations

Mutual Funds . USA . 
Fund . Elfun Diversified Fund
ELDFX Fund  USD 20.82  0.14  0.68%   
The current 90-days correlation between Elfun Diversified and Nationwide Bond Index is 0.45 (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 weak diversification

The correlation between Elfun Diversified Fund and DJI is 0.44 (i.e., Very weak 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 census.

Moving together with Elfun Mutual Fund

  0.91SSAHX State Street TargetPairCorr
  0.93SSAJX State Street TargetPairCorr
  0.88SSADX State Street TargetPairCorr
  0.67SSAFX State Street AggregatePairCorr
  0.93SSAOX State Street TargetPairCorr
  0.79SSAQX State Street CorePairCorr
  0.93SSAKX State Street TargetPairCorr
  1.0SSBYX State Street TargetPairCorr
  1.0SSBWX State Street TargetPairCorr
  0.99SSCKX State Street TargetPairCorr
  0.98SSCNX State Street TargetPairCorr
  0.99SSCJX State Street TargetPairCorr
  0.98SSCQX State Street TargetPairCorr
  0.92SSAWX State Street TargetPairCorr
  0.94SSAZX State Street TargetPairCorr
  0.94SSAYX State Street TargetPairCorr
  0.73SSASX State Street IncomePairCorr
  0.92SSAUX State Street TargetPairCorr
  0.99SSBRX State Street TargetPairCorr
  0.99SSBSX State Street TargetPairCorr
  0.98SSBNX State Street TargetPairCorr
  0.98SSBOX State Street TargetPairCorr
  0.93SSDYX State Street TargetPairCorr
  0.66SSEYX State Street EquityPairCorr
  0.98SSDEX State Street TargetPairCorr
  0.98SSDDX State Street TargetPairCorr
  0.96SSDOX State Street TargetPairCorr
  0.96SSDJX State Street TargetPairCorr
  0.96SSDLX State Street TargetPairCorr
  0.93SSDWX State Street TargetPairCorr
  0.95SSDQX State Street TargetPairCorr
  0.63SSGLX State Street GlobalPairCorr
  0.64SSGHX State Street GlobalPairCorr
  0.63SSGJX State Street GlobalPairCorr
  0.64SSFDX State Street AggregatePairCorr
  0.68SSFCX State Street AggregatePairCorr
  0.66SSFJX State Street TargetPairCorr
  0.76SSFKX 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 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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