Elfun Trusts Correlations

ELFNX Fund

USD 84.38 0.19 0.23%

The current 90-days correlation between Elfun Trusts Elfun and Fpa Queens Road is 0.45 (i.e., Very weak 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

Very weak diversification

The correlation between Elfun Trusts Elfun and DJI is 0.54 (i.e., Very 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

0.77	SSAQX	State Street Core	Pair Corr
0.82	SSEYX	State Street Equity	Pair Corr

Moving against Elfun Mutual Fund

0.63	SSASX	State Street Income	Pair Corr
0.61	SSAFX	State Street Aggregate	Pair Corr
0.45	SSAIX	Ssga International Stock	Pair Corr
0.47	SSGVX	State Street Global	Pair Corr
0.44	SSGLX	State Street Global	Pair Corr
0.43	SSGHX	State Street Global	Pair Corr
0.43	SSGJX	State Street Global	Pair Corr
0.61	SSFDX	State Street Aggregate	Pair Corr
0.56	SSFEX	State Street Aggregate	Pair Corr
0.55	SSFCX	State Street Aggregate	Pair Corr
0.54	SSIQX	Ssga International Stock	Pair Corr

Related Correlations Analysis

	QRSAX	MAVKX	JISCX	LVAQX	AFDVX	BPSCX
QRSAX		0.89	0.9	0.91	0.9	0.9	QRSAX
MAVKX	0.89		0.94	0.96	0.94	0.98	MAVKX
JISCX	0.9	0.94		0.93	0.99	0.92	JISCX
LVAQX	0.91	0.96	0.93		0.94	0.92	LVAQX
AFDVX	0.9	0.94	0.99	0.94		0.92	AFDVX
BPSCX	0.9	0.98	0.92	0.92	0.92		BPSCX
	QRSAX	MAVKX	JISCX	LVAQX	AFDVX	BPSCX

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
QRSAX	0.78	(0.11)	(0.24)	1.37	(1.82)	4.49
MAVKX	0.82	(0.12)	(0.21)	1.24	(1.95)	4.44
JISCX	0.88	(0.19)	2.32	1.51	(2.16)	5.11
LVAQX	0.83	(0.14)	(0.24)	1.18	(1.87)	3.80
AFDVX	0.81	(0.17)	1.79	1.55	(1.93)	4.58
BPSCX	0.83	(0.08)	(0.16)	1.51	(2.10)	4.06

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