Nasdaq 100 Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Fund Class
RYATX Fund  USD 81.27  0.42  0.51%   
The current 90-days correlation between Nasdaq 100 Fund and Nasdaq 100 Fund Class is -0.35 (i.e., Very good diversification). The correlation of 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.

Nasdaq 100 Correlation With Market

Poor diversification

The correlation between Nasdaq 100 Fund Class and DJI is 0.74 (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 employment.

Moving together with Nasdaq Mutual Fund

  0.7RYBCX Basic MaterialsPairCorr
  0.9RYBAX Basic MaterialsPairCorr
  0.74RYBKX Banking Fund ClassPairCorr
  0.9RYBMX Basic MaterialsPairCorr
  0.77RYBHX Sp Midcap 400PairCorr
  0.71RYBIX Basic MaterialsPairCorr
  0.65RYBOX Biotechnology Fund Class Steady GrowthPairCorr
  0.92RYAKX Russell 2000 15xPairCorr
  0.76RYAHX Mid Cap 15xPairCorr
  0.84RYAUX Utilities Fund ClassPairCorr
  0.79RYANX Nova Fund ClassPairCorr
  0.74RYAZX Sp Smallcap 600PairCorr
  0.83RYAWX Sp 500 PurePairCorr
  0.67RYAVX Sp Midcap 400PairCorr
  0.76RYDHX Dow Jones IndustrialPairCorr
  0.86RYDCX Mid Cap 15xPairCorr
  0.93RYDKX Dow Jones IndustrialPairCorr
  0.63RYECX Energy Fund ClassPairCorr
  0.65RYCFX Biotechnology Fund Class Steady GrowthPairCorr
  0.8RYCCX Nasdaq 100 2xPairCorr
  0.78RYCNX Transportation Fund ClassPairCorr
  0.76RYCMX Russell 2000 15xPairCorr
  0.79RYCOX Nasdaq 100 FundPairCorr

Moving against Nasdaq Mutual Fund

  1.0RYALX Inverse Nasdaq 100PairCorr
  0.81RYACX Inverse Nasdaq 100PairCorr
  0.81RYAIX Inverse Nasdaq 100PairCorr
  0.8RYARX Inverse Sp 500PairCorr
  0.79RYAPX Inverse Nasdaq 100PairCorr
  0.76RYAGX Inverse Mid CapPairCorr
  0.75RYAFX Inverse Russell 2000PairCorr
  0.31RYAQX Inverse Government LongPairCorr
  1.0RYCDX Rydex Inverse NasdaqPairCorr
  0.99RYCBX Inverse Sp 500PairCorr
  0.94RYCQX Inverse Russell 2000PairCorr
  0.92RYCWX Inverse Dow 2xPairCorr
  0.76RYCZX Inverse Dow 2xPairCorr
  0.72RYCLX Inverse Mid CapPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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