Nasdaq 100 Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Fund Class
RYCOX Fund  USD 62.70  0.95  1.54%   
The current 90-days correlation between Nasdaq 100 Fund and Nasdaq 100 2x Strategy is 1.0 (i.e., No risk reduction). 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 metropolitan statistical area.

Moving together with Nasdaq Mutual Fund

  0.89RYBHX Sp Midcap 400PairCorr
  0.89RYAHX Mid Cap 15xPairCorr
  1.0RYATX Nasdaq 100 FundPairCorr
  0.91RYAZX Sp Smallcap 600PairCorr
  0.94RYAWX Sp 500 PurePairCorr
  0.74RYAVX Sp Midcap 400PairCorr
  0.99RYCHX Technology Fund ClassPairCorr
  1.0RYCCX Nasdaq 100 2xPairCorr
  0.94RYCMX Russell 2000 15xPairCorr
  0.92RYCYX Dow 2x StrategyPairCorr
  0.99RYCTX Sp 500 2xPairCorr
  0.98RYELX Electronics Fund ClassPairCorr
  1.0RYHOX Nasdaq 100 FundPairCorr
  0.97RYICX Internet Fund ClassPairCorr
  0.95RYHHX High Yield StrategyPairCorr
  0.8RYJSX Japan 2x StrategyPairCorr
  0.8RYLSX Leisure Fund ClassPairCorr
  0.89RYMDX Mid Cap 15xPairCorr
  0.81RYMNX Precious MetalsPairCorr
  0.92RYLDX Dow 2x StrategyPairCorr
  1.0RYOCX Nasdaq 100 FundPairCorr
  0.99RYNVX Nova Fund InvestorPairCorr
  0.87RYPAX Transportation Fund ClassPairCorr
  0.98RYSAX Electronics Fund ClassPairCorr
  0.98RYSCX Electronics Fund ClassPairCorr
  0.98RYSIX Electronics Fund InvestorPairCorr
  0.91RYSVX Sp Smallcap 600PairCorr
  0.99RYTAX Technology Fund ClassPairCorr
  0.93RYRLX Russell 2000 2xPairCorr
  0.99RYTHX Technology Fund ClassPairCorr
  0.99RYTIX Technology Fund InvestorPairCorr
  0.99RYTNX Sp 500 2xPairCorr
  1.0RYVLX Nasdaq 100 2xPairCorr
  1.0RYVYX Nasdaq 100 2xPairCorr

Moving against Nasdaq Mutual Fund

  0.92RYIDX Rydex Dynamic FdsPairCorr
  0.91RYIHX Inverse High YieldPairCorr
  0.99RYTPX Inverse Sp 500PairCorr
  0.94RYWWX Inverse Emerging MarketsPairCorr

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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