Nasdaq-100 Fund Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Fund Class
RYATX Fund  USD 79.80  0.17  0.21%   
The current 90-days correlation between Nasdaq 100 Fund and Nasdaq 100 Fund Class is 1.0 (i.e., No risk reduction). The correlation of Nasdaq-100 Fund 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 Fund Correlation With Market

Poor diversification

The correlation between Nasdaq 100 Fund Class and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq 100 Fund Class 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 Nasdaq 100 Fund Class. 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 estimate.

Moving together with Nasdaq-100 Mutual Fund

  0.94RYBCX Basic MaterialsPairCorr
  0.94RYBAX Basic MaterialsPairCorr
  0.94RYBKX Banking Fund ClassPairCorr
  0.94RYBMX Basic MaterialsPairCorr
  0.96RYBHX Sp Midcap 400PairCorr
  0.94RYBIX Basic MaterialsPairCorr
  0.96RYAHX Mid Cap 15xPairCorr
  1.0RYANX Nova Fund ClassPairCorr
  0.99RYAWX Sp 500 PurePairCorr
  0.88RYECX Energy Fund ClassPairCorr
  0.71RYCFX Biotechnology Fund ClassPairCorr
  1.0RYCCX Nasdaq 100 2xPairCorr
  1.0RYCOX Nasdaq 100 FundPairCorr
  0.97RYCVX Dow 2x StrategyPairCorr
  0.97RYCYX Dow 2x StrategyPairCorr
  0.97RYFIX Financial ServicesPairCorr
  0.8RYESX Energy Services Steady GrowthPairCorr
  0.88RYENX Energy Fund ClassPairCorr
  0.92RYEUX Europe 125x StrategyPairCorr
  0.97RYFCX Financial ServicesPairCorr
  1.0RYHOX Nasdaq 100 FundPairCorr
  0.79RYHRX Real Estate FundPairCorr
  0.86RYJTX Japan 2x Strategy Steady GrowthPairCorr
  0.86RYJSX Japan 2x Strategy Steady GrowthPairCorr
  0.94RYKIX Banking Fund InvestorPairCorr
  0.86RYJHX Japan 2x Strategy Steady GrowthPairCorr
  0.68RYMBX Commodities StrategyPairCorr
  0.96RYMDX Mid Cap 15xPairCorr
  0.67RYMJX Commodities StrategyPairCorr

Moving against Nasdaq-100 Mutual Fund

  1.0RYACX Inverse Nasdaq 100PairCorr
  0.39RYABX Government Long BondPairCorr
  0.98RYIDX Rydex Dynamic FdsPairCorr
  0.96RYIHX Inverse High YieldPairCorr
  0.39RYHBX Government Long BondPairCorr
  0.58RYSJX Strengthening DollarPairCorr
  0.57RYSBX Strengthening DollarPairCorr
  0.5RYSDX Strengthening DollarPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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