Elfun Diversified Correlations

Mutual Funds . USA . 
Fund . Elfun Diversified Fund
ELDFX Fund  USD 21.95  0.04  0.18%   
The current 90-days correlation between Elfun Diversified and The Tocqueville Fund is 0.84 (i.e., Very poor 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 poor diversification

The correlation between Elfun Diversified Fund and DJI is 0.83 (i.e., Very poor 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

  0.73SSAHX State Street TargetPairCorr
  1.0SSAJX State Street TargetPairCorr
  0.77SSAIX Ssga International StockPairCorr
  0.74SSAOX State Street TargetPairCorr
  0.73SSAQX State Street CorePairCorr
  1.0SSAKX State Street TargetPairCorr
  1.0SSBYX State Street TargetPairCorr
  1.0SSBWX State Street TargetPairCorr
  1.0SSCKX State Street TargetPairCorr
  1.0SSCNX State Street TargetPairCorr
  1.0SSCJX State Street TargetPairCorr
  1.0SSCQX State Street TargetPairCorr
  1.0SSAWX State Street TargetPairCorr
  1.0SSAZX State Street TargetPairCorr
  1.0SSAYX State Street TargetPairCorr
  0.63SSASX State Street IncomePairCorr
  1.0SSAUX State Street TargetPairCorr
  1.0SSBRX State Street TargetPairCorr
  1.0SSBSX State Street TargetPairCorr
  0.99SSDYX State Street TargetPairCorr
  0.98SSEYX State Street EquityPairCorr
  1.0SSDEX State Street TargetPairCorr
  1.0SSDDX State Street TargetPairCorr
  0.98SSDOX State Street TargetPairCorr
  0.99SSDJX State Street TargetPairCorr
  1.0SSDLX State Street TargetPairCorr
  0.99SSDWX State Street TargetPairCorr
  1.0SSDQX State Street TargetPairCorr
  0.99SSGLX State Street GlobalPairCorr
  0.98SSGHX State Street GlobalPairCorr
  0.99SSGJX State Street GlobalPairCorr
  0.98SSGVX State Street GlobalPairCorr
  0.66SSFDX State Street AggregatePairCorr
  0.63SSFCX State Street AggregatePairCorr
  1.0SSFJX State Street TargetPairCorr
  1.0SSFKX 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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