Nasdaq-100 Index Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Index Fund
NASDX Fund  USD 46.02  0.16  0.35%   
The current 90-days correlation between Nasdaq 100 Index and Aqr Large Cap is 0.03 (i.e., Significant diversification). The correlation of Nasdaq-100 Index 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.

Nasdaq-100 Index Correlation With Market

Poor diversification

The correlation between Nasdaq 100 Index Fund and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq 100 Index Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nasdaq 100 Index 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 small area income & poverty estimates.

Moving together with Nasdaq-100 Mutual Fund

  0.71EMSLX Shelton Emerging MarketsPairCorr
  0.84NQQQX Shelton FundsPairCorr
  0.93EQTKX Shelton E ValuePairCorr
  0.93EQTIX Shelton E ValuePairCorr
  0.79NDXKX Nasdaq 100 IndexPairCorr
  0.77SISEX Shelton InternationalPairCorr
  0.77SISLX Shelton InternationalPairCorr
  0.78SMCIX Sp Smallcap IndexPairCorr
  0.85SMLKX Sp Smallcap IndexPairCorr
  0.65DEBTX Shelton Tactical CreditPairCorr
  0.96SPFIX Sp 500 IndexPairCorr
  0.73SPMIX Sp Midcap IndexPairCorr
  0.78MIDKX Sp Midcap IndexPairCorr
  0.96SPXKX Sp 500 IndexPairCorr
  0.67FFAFX American FundsPairCorr
  0.81VTSAX Vanguard Total StockPairCorr
  0.79VFIAX Vanguard 500 IndexPairCorr
  0.81VTSMX Vanguard Total StockPairCorr
  0.81VSTSX Vanguard Total StockPairCorr
  0.81VITSX Vanguard Total StockPairCorr
  0.81VSMPX Vanguard Total StockPairCorr
  0.62VTIAX Vanguard Total InterPairCorr
  0.92VFINX Vanguard 500 IndexPairCorr
  0.79VFFSX Vanguard 500 IndexPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Nasdaq-100 Mutual Fund performing well and Nasdaq-100 Index 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 Nasdaq-100 Index'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RYHOX  0.83  0.05 (0.01) 0.49  1.06 
(0.85)
 1.51 
(2.05)
 7.59 
RYATX  0.85  0.01  0.00  0.09  1.10 
(0.86)
 1.49 
(2.06)
 7.62 
RYOCX  0.76 (0.08) 0.00 (0.03) 0.00 
 0.00 
 1.35 
(2.05)
 4.74 
OILVX  0.64  0.13  0.20  0.20  0.33 
(0.82)
 1.16 
(1.02)
 10.39 
DGAGX  0.91  0.34  0.34  1.17  0.22 
(1.08)
 1.11 
(1.22)
 24.62 
HISGX  0.94  0.07  0.05  0.14  1.12 
(1.05)
 2.05 
(2.06)
 4.59 
TPPAX  0.41  0.11  0.15  0.35  0.00 
(0.48)
 0.74 
(0.64)
 6.56 
LADVX  1.18  0.06  0.00  0.74  1.57 
(1.29)
 2.24 
(2.52)
 7.19 
QUERX  0.95  0.42  0.61  10.28  0.00 
(1.27)
 0.87 
(0.89)
 26.99 
AUENX  0.94  0.45  0.62 (0.88) 0.00 
(1.35)
 0.80 
(0.89)
 26.80 

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