Elfun Trusts Correlations

ELFNX Fund

USD 88.20 1.40 1.61%

The current 90-days correlation between Elfun Trusts Elfun and Jpmorgan Large Cap is 0.67 (i.e., Poor diversification). The correlation of Elfun Trusts 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 Trusts Correlation With Market

Weak diversification

The correlation between Elfun Trusts Elfun and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elfun Trusts Elfun 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 Trusts Elfun. 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 board of governors.

Moving together with Elfun Mutual Fund

0.83	SSAHX	State Street Target	Pair Corr
0.83	SSAJX	State Street Target	Pair Corr
0.85	SSADX	State Street Target	Pair Corr
0.76	SSAOX	State Street Target	Pair Corr
0.95	SSAQX	State Street Core	Pair Corr
0.75	SSAKX	State Street Target	Pair Corr
0.86	SSBYX	State Street Target	Pair Corr
0.87	SSBWX	State Street Target	Pair Corr
0.81	SSCKX	State Street Target	Pair Corr
0.78	SSCNX	State Street Target	Pair Corr
0.81	SSCJX	State Street Target	Pair Corr
0.77	SSCQX	State Street Target	Pair Corr
0.71	SSAWX	State Street Target	Pair Corr
0.78	SSAZX	State Street Target	Pair Corr
0.69	SSAYX	State Street Target	Pair Corr
0.73	SSAUX	State Street Target	Pair Corr
0.89	SSBRX	State Street Target	Pair Corr
0.89	SSBSX	State Street Target	Pair Corr
0.92	SSBNX	State Street Target	Pair Corr
0.91	SSBOX	State Street Target	Pair Corr
0.68	SSDYX	State Street Target	Pair Corr
0.78	SSDEX	State Street Target	Pair Corr
0.78	SSDDX	State Street Target	Pair Corr
0.74	SSDOX	State Street Target	Pair Corr
0.75	SSDJX	State Street Target	Pair Corr
0.74	SSDLX	State Street Target	Pair Corr
0.68	SSDWX	State Street Target	Pair Corr
0.73	SSDQX	State Street Target	Pair Corr

Moving against Elfun Mutual Fund

0.51

SSHQX

State Street Hedged

Pair Corr

Related Correlations Analysis

	OLGCX	TEGCX	TFAGX	MSSGX	EIPIX	MGHRX	LWLAX
OLGCX		0.59	0.81	0.84	0.34	0.72	0.65	OLGCX
TEGCX	0.59		0.79	0.48	0.64	0.64	0.87	TEGCX
TFAGX	0.81	0.79		0.72	0.4	0.91	0.81	TFAGX
MSSGX	0.84	0.48	0.72		0.17	0.78	0.42	MSSGX
EIPIX	0.34	0.64	0.4	0.17		0.17	0.7	EIPIX
MGHRX	0.72	0.64	0.91	0.78	0.17		0.63	MGHRX
LWLAX	0.65	0.87	0.81	0.42	0.7	0.63		LWLAX
	OLGCX	TEGCX	TFAGX	MSSGX	EIPIX	MGHRX	LWLAX

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Risk-Adjusted Indicators

There is a big difference between Elfun Mutual Fund performing well and Elfun Trusts 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 Trusts' 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
OLGCX	0.87	(0.04)	0.00	(0.09)	0.00	0.00	1.64	(2.06)	5.32
TEGCX	0.71	(0.04)	0.00	(0.17)	0.00	0.00	1.54	(1.31)	3.82
TFAGX	0.80	0.01	0.01	(0.01)	1.14	(0.83)	1.46	(2.06)	5.07
MSSGX	1.54	(0.03)	0.00	(0.06)	0.00	0.00	3.29	(2.85)	10.50
EIPIX	0.81	(0.08)	0.00	(0.18)	0.00	0.00	1.62	(1.63)	8.17
MGHRX	1.39	0.03	0.02	0.02	1.91	(1.37)	2.88	(2.70)	9.19
LWLAX	0.29	0.01	0.04	0.00	0.41	(0.30)	0.54	(0.60)	2.06

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