Looking to diversify beyond ELFNX? The mutual funds below have the lowest correlation with ELFNX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from ELFNX.
Best Diversifiers for ELFNX
3 mutual funds have low correlation with ELFNX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) (Inflation-Protected Bonds) with a 1Y correlation of 0.04, roughly unchanged from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.04 | 0.09 | 0.14 | 84 | Inflation-Protected Bonds | ELFNX vs VTAPX | |
| Fidelity Flex Municipal Income Fund | 0.17 | 0.13 | 0.11 | 77 | Municipal Bonds | ELFNX vs FUENX | |
| Elfun Tax Exempt Income Fund | 0.19 | 0.14 | 0.10 | 73 | Municipal Bonds | ELFNX vs ELFTX | |
| State Street Emerging Markets Equity Index Fund | 0.49 | 0.49 | 0.52 | 90 | Emerging Markets Diversified | ELFNX vs SSKEX | |
| Baron Partners Fund | 0.56 | 0.61 | 0.68 | 52 | Large Cap Growth Equities | ELFNX vs BPTRX |
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