Nasdaq-100 Fund Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Fund Class
RYATX Fund  USD 79.44  0.34  0.43%   
The current 90-days correlation between Nasdaq 100 Fund and Nasdaq 100 Fund Class is -0.07 (i.e., Good diversification). 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

Good diversification

The correlation between Nasdaq 100 Fund Class and DJI is -0.16 (i.e., Good 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

  0.86RYBCX Basic MaterialsPairCorr
  0.86RYBAX Basic MaterialsPairCorr
  0.94RYBMX Basic MaterialsPairCorr
  0.95RYBHX Sp Midcap 400PairCorr
  0.94RYBIX Basic MaterialsPairCorr
  0.86RYAKX Russell 2000 15xPairCorr
  0.79RYAEX Europe 125x StrategyPairCorr
  0.82RYAHX Mid Cap 15xPairCorr
  0.86RYAZX Sp Smallcap 600PairCorr
  0.99RYAWX Sp 500 PurePairCorr
  0.94RYAVX Sp Midcap 400PairCorr
  0.85RYDHX Dow Jones IndustrialPairCorr
  0.95RYDCX Mid Cap 15xPairCorr
  0.96RYDKX Dow Jones IndustrialPairCorr
  0.78RYECX Energy Fund ClassPairCorr
  0.66RYCFX Biotechnology Fund ClassPairCorr
  0.88RYCEX Europe 125x StrategyPairCorr
  0.89RYCCX Nasdaq 100 2xPairCorr
  0.81RYCNX Transportation Fund ClassPairCorr
  0.86RYCMX Russell 2000 15xPairCorr
  0.89RYCOX Nasdaq 100 FundPairCorr
  0.96RYCVX Dow 2x StrategyPairCorr
  0.84RYCYX Dow 2x StrategyPairCorr
  0.88RYCTX Sp 500 2xPairCorr

Moving against Nasdaq-100 Mutual Fund

  1.0RYACX Inverse Nasdaq 100PairCorr
  0.94RYAGX Inverse Mid Cap Potential GrowthPairCorr
  0.88RYAPX Inverse Nasdaq 100PairCorr
  0.86RYAFX Inverse Russell 2000PairCorr
  0.4RYABX Government Long BondPairCorr
  0.34RYCGX Government Long BondPairCorr
  0.97RYCWX Inverse Dow 2xPairCorr
  0.97RYCQX Inverse Russell 2000PairCorr
  0.97RYCZX Inverse Dow 2xPairCorr
  0.87RYCDX Rydex Inverse NasdaqPairCorr
  0.8RYCLX Inverse Mid CapPairCorr
  0.31RYGBX Government Long BondPairCorr

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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