Elfun Income Fund Market Value
| EINFX Fund | USD 9.34 0.03 0.32% |
| Symbol | Elfun |
Elfun Income 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Elfun Income's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Elfun Income.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Elfun Income on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Elfun Income Fund or generate 0.0% return on investment in Elfun Income over 30 days. Elfun Income is related to or competes with State Street, State Street, Ssga International, State Street, State Street, State Street, and State Street. The fund invests at least 80 percent of its net assets in debt securities More
Elfun Income Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Elfun Income's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Elfun Income Fund upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.29) | |||
| Maximum Drawdown | 2.19 | |||
| Value At Risk | (0.93) | |||
| Potential Upside | 0.5241 |
Elfun Income Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elfun Income's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elfun Income's standard deviation. In reality, there are many statistical measures that can use Elfun Income historical prices to predict the future Elfun Income's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.11) | |||
| Treynor Ratio | (0.18) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Elfun Income's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Elfun Me Fund Backtested Returns
Elfun Me Fund secures Sharpe Ratio (or Efficiency) of -0.0872, which denotes the fund had a -0.0872% return per unit of risk over the last 3 months. Elfun Income Fund exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Elfun Income's Mean Deviation of 0.348, standard deviation of 0.4478, and Variance of 0.2005 to check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.28, which means not very significant fluctuations relative to the market. As returns on the market increase, Elfun Income's returns are expected to increase less than the market. However, during the bear market, the loss of holding Elfun Income is expected to be smaller as well.
Auto-correlation | 0.64 |
Good predictability
Elfun Income Fund has good predictability. Overlapping area represents the amount of predictability between Elfun Income time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Elfun Me Fund price movement. The serial correlation of 0.64 indicates that roughly 64.0% of current Elfun Income price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.64 | |
| Spearman Rank Test | 0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Elfun Me Fund lagged returns against current returns
Autocorrelation, which is Elfun Income mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Elfun Income's mutual fund expected returns. We can calculate the autocorrelation of Elfun Income returns to help us make a trade decision. For example, suppose you find that Elfun Income has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Elfun Income regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Elfun Income mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elfun Income mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elfun Income mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Elfun Income Lagged Returns
When evaluating Elfun Income's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elfun Income mutual fund have on its future price. Elfun Income autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Elfun Income autocorrelation shows the relationship between Elfun Income mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Elfun Income Fund.
Regressed Prices |
| Timeline |
Pair Trading with Elfun Income
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Elfun Income position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Elfun Income will appreciate offsetting losses from the drop in the long position's value.Moving together with Elfun Mutual Fund
| 1.0 | SSAFX | State Street Aggregate | PairCorr |
The ability to find closely correlated positions to Elfun Income could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Elfun Income when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Elfun Income - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Elfun Income Fund to buy it.
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Elfun Income moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Elfun Me Fund moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Elfun Income can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Elfun Income Correlation, Elfun Income Volatility and Elfun Income Alpha and Beta module to complement your research on Elfun Income. Note that the Elfun Me Fund information on this page should be used as a complementary analysis to other Elfun Income's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Elfun Income technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.