Elfun Income Correlations

EINFX Fund

USD 9.67 0.03 0.31%

The current 90-days correlation between Elfun Income and State Street Target is 0.42 (i.e., Very weak 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

Good diversification

The correlation between Elfun Income Fund and DJI is -0.04 (i.e., Good 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

0.99	SSFDX	State Street Aggregate	Pair Corr
0.76	SSIQX	Ssga International Stock	Pair Corr
0.75	EGLBX	Elfun International	Pair Corr
1.0	MWTNX	Metropolitan West Total	Pair Corr
0.97	MWTSX	Metropolitan West Total	Pair Corr
0.99	PTTPX	Pimco Total Return	Pair Corr
0.99	PTRRX	Total Return	Pair Corr
0.99	PTRAX	Total Return	Pair Corr
0.97	PTTRX	Total Return	Pair Corr
0.95	FIWGX	Strategic Advisers	Pair Corr
0.99	DODIX	Dodge Income	Pair Corr
1.0	MWTIX	Metropolitan West Total	Pair Corr
1.0	MWTRX	Metropolitan West Total	Pair Corr
0.68	USPSX	Profunds Ultrashort	Pair Corr
0.68	USPIX	Profunds Ultrashort	Pair Corr
0.62	UIPIX	Ultrashort Mid Cap	Pair Corr
0.68	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Moving against Elfun Mutual Fund

0.69	SSSWX	State Street Equity	Pair Corr
0.68	SSEYX	State Street Equity	Pair Corr
0.68	ELFNX	Elfun Trusts Elfun	Pair Corr
0.34	SSAWX	State Street Target	Pair Corr
0.86	PYAIX	Payden Absolute Return	Pair Corr
0.84	FTCAX	Templeton Strained Bond	Pair Corr
0.82	CSCO	Cisco Systems	Pair Corr
0.8	PYARX	Payden Absolute Return	Pair Corr
0.78	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.76	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.76	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.7	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.68	HPQ	HP Inc	Pair Corr
0.67	ACP	Aberdeen Income Credit	Pair Corr
0.62	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.58	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.57	DIS	Walt Disney Sell-off Trend	Pair Corr
0.53	BCAAX	Brandywineglobal C	Pair Corr

Related Correlations Analysis

	SSAHX	SSAJX	SSAIX	SSADX	SSAFX	SSAOX	SSAQX	SSAKX	SSBYX	SSBWX
SSAHX		0.99	0.37	0.97	0.17	0.94	0.6	0.96	0.99	0.99	SSAHX
SSAJX	0.99		0.29	0.93	0.06	0.97	0.68	0.99	1.0	1.0	SSAJX
SSAIX	0.37	0.29		0.54	0.75	0.1	-0.42	0.17	0.26	0.27	SSAIX
SSADX	0.97	0.93	0.54		0.41	0.82	0.39	0.86	0.92	0.92	SSADX
SSAFX	0.17	0.06	0.75	0.41		-0.17	-0.63	-0.09	0.03	0.04	SSAFX
SSAOX	0.94	0.97	0.1	0.82	-0.17		0.82	1.0	0.98	0.98	SSAOX
SSAQX	0.6	0.68	-0.42	0.39	-0.63	0.82		0.78	0.7	0.7	SSAQX
SSAKX	0.96	0.99	0.17	0.86	-0.09	1.0	0.78		0.99	0.99	SSAKX
SSBYX	0.99	1.0	0.26	0.92	0.03	0.98	0.7	0.99		1.0	SSBYX
SSBWX	0.99	1.0	0.27	0.92	0.04	0.98	0.7	0.99	1.0		SSBWX
	SSAHX	SSAJX	SSAIX	SSADX	SSAFX	SSAOX	SSAQX	SSAKX	SSBYX	SSBWX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SSBYX	+ 1.0	SSAJX
SSBWX	+ 1.0	SSAJX
SSAKX	+ 1.0	SSAOX
SSBWX	+ 1.0	SSBYX
SSAJX	+ 0.99	SSAHX
SSBYX	+ 0.99	SSAHX

High negative correlations

SSAQX	- 0.63	SSAFX
SSAQX	- 0.42	SSAIX
SSAOX	- 0.17	SSAFX
SSAKX	- 0.09	SSAFX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SSAHX	0.26	0.00	(0.25)	0.11	0.23	(0.28)	0.55	(0.47)	1.56
SSAJX	0.32	0.00	(0.16)	0.12	0.31	(0.35)	0.72	(0.65)	1.96
SSAIX	0.58	(0.03)	(0.15)	0.02	0.69	(0.61)	1.39	(1.10)	3.53
SSADX	0.21	(0.01)	(0.34)	0.08	0.18	(0.25)	0.44	(0.43)	1.22
SSAFX	0.22	0.00	0.00	0.00	0.00	0.00	0.43	(0.66)	1.45
SSAOX	0.43	0.02	(0.07)	0.15	0.40	(0.45)	0.89	(0.82)	2.56
SSAQX	0.47	0.05	0.03	0.19	0.46	(0.51)	1.13	(0.93)	3.98
SSAKX	0.39	0.01	(0.09)	0.14	0.36	(0.44)	0.79	(0.72)	2.39
SSBYX	0.32	0.01	(0.16)	0.13	0.31	(0.34)	0.64	(0.65)	1.88
SSBWX	0.32	0.01	(0.16)	0.13	0.29	(0.35)	0.65	(0.58)	1.89

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