Inverse Nasdaq-100 Correlations

Mutual Funds . USA . 
Fund . Inverse Nasdaq 100 Strategy
RYAIX Fund  USD 129.50  0.63  0.48%   
The current 90-days correlation between Inverse Nasdaq 100 and Scharf Global Opportunity is 0.01 (i.e., Significant diversification). The correlation of Inverse Nasdaq-100 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.

Inverse Nasdaq-100 Correlation With Market

Pay attention - limited upside

The correlation between Inverse Nasdaq 100 Strategy and DJI is -0.83 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Inverse Nasdaq 100 Strategy and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Inverse Nasdaq 100 Strategy. 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 gross domestic product.

Moving together with Inverse Mutual Fund

  0.98RYACX Inverse Nasdaq 100PairCorr
  1.0RYALX Inverse Nasdaq 100PairCorr
  0.97RYAFX Inverse Russell 2000PairCorr
  0.96RYAGX Inverse Mid CapPairCorr
  0.98RYARX Inverse Sp 500PairCorr
  0.98RYAPX Inverse Nasdaq 100PairCorr
  1.0RYCBX Inverse Sp 500PairCorr
  1.0RYCDX Rydex Inverse NasdaqPairCorr

Moving against Inverse Mutual Fund

  0.99RYAWX Sp 500 PurePairCorr
  0.98RYBHX Sp Midcap 400PairCorr
  0.98RYATX Nasdaq 100 FundPairCorr
  0.97RYANX Nova Fund ClassPairCorr
  0.97RYDCX Mid Cap 15xPairCorr
  0.96RYAKX Russell 2000 15xPairCorr
  0.96RYAHX Mid Cap 15xPairCorr
  0.96RYDHX Dow Jones IndustrialPairCorr
  0.96RYDKX Dow Jones IndustrialPairCorr
  0.95RYAZX Sp Smallcap 600PairCorr
  0.94RYBKX Banking Fund ClassPairCorr
  0.94RYAVX Sp Midcap 400 Potential GrowthPairCorr
  0.93RYAEX Europe 125x StrategyPairCorr
  0.92RYBCX Basic MaterialsPairCorr
  0.92RYBAX Basic MaterialsPairCorr
  0.92RYBIX Basic MaterialsPairCorr
  0.92RYAUX Utilities Fund ClassPairCorr
  0.91RYBMX Basic MaterialsPairCorr
  0.88RYEAX Energy Fund ClassPairCorr
  0.88RYECX Energy Fund ClassPairCorr
  0.72RYCFX Biotechnology Fund ClassPairCorr
  0.71RYBOX Biotechnology Fund ClassPairCorr
  0.56RYAQX Inverse Government LongPairCorr
  0.99RYCHX Technology Fund ClassPairCorr
  0.99RYCCX Nasdaq 100 2xPairCorr
  0.99RYCTX Sp 500 2xPairCorr
  0.98RYCOX Nasdaq 100 FundPairCorr
  0.98RYCKX Sp Midcap 400PairCorr
  0.97RYCNX Transportation Fund ClassPairCorr
  0.97RYCMX Russell 2000 15xPairCorr
  0.97RYFNX Financial ServicesPairCorr
  0.97RYFIX Financial ServicesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Inverse Mutual Fund performing well and Inverse Nasdaq-100 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 Inverse Nasdaq-100'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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