Nasdaq-100 Fund Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Fund Class
RYCOX Fund  USD 62.25  0.09  0.14%   
The current 90-days correlation between Nasdaq 100 Fund and Nasdaq 100 2x Strategy 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 -0.18 (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 persons.

Moving together with Nasdaq-100 Mutual Fund

  0.93RYBCX Basic MaterialsPairCorr
  0.93RYBAX 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
  1.0RYATX Nasdaq 100 FundPairCorr
  1.0RYANX Nova Fund ClassPairCorr
  0.97RYAWX Sp 500 PurePairCorr
  0.87RYECX Energy Fund ClassPairCorr
  0.72RYCFX Biotechnology Fund ClassPairCorr
  0.99RYCCX Nasdaq 100 2xPairCorr
  0.95RYCVX Dow 2x StrategyPairCorr
  0.94RYCYX Dow 2x StrategyPairCorr
  0.95RYFIX Financial ServicesPairCorr
  0.79RYESX Energy ServicesPairCorr
  0.88RYENX Energy Fund ClassPairCorr
  0.87RYEUX Europe 125x StrategyPairCorr
  0.95RYFCX Financial ServicesPairCorr
  1.0RYHOX Nasdaq 100 FundPairCorr
  0.75RYHRX Real Estate FundPairCorr
  0.8RYJTX Japan 2x StrategyPairCorr
  0.84RYJSX Japan 2x StrategyPairCorr
  0.92RYKIX Banking Fund InvestorPairCorr
  0.84RYJHX Japan 2x StrategyPairCorr
  0.72RYMBX Commodities StrategyPairCorr
  0.96RYMDX Mid Cap 15xPairCorr
  0.74RYMJX Commodities StrategyPairCorr

Moving against Nasdaq-100 Mutual Fund

  1.0RYACX Inverse Nasdaq 100PairCorr
  0.41RYABX Government Long BondPairCorr
  0.97RYIDX Rydex Dynamic FdsPairCorr
  0.92RYIHX Inverse High YieldPairCorr
  0.39RYHBX Government Long BondPairCorr
  0.59RYSJX Strengthening Dollar Steady GrowthPairCorr
  0.58RYSDX Strengthening Dollar Steady GrowthPairCorr
  0.58RYSBX Strengthening Dollar Steady GrowthPairCorr

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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