Nasdaq 100 Correlations

RYHOX Fund  USD 80.06  0.28  0.35%   
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 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

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 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
  0.99RYCCX Nasdaq 100 2xPairCorr
  1.0RYCOX Nasdaq 100 FundPairCorr
  0.95RYCVX Dow 2x StrategyPairCorr
  0.97RYCYX Dow 2x StrategyPairCorr
  0.97RYFIX Financial ServicesPairCorr
  0.8RYESX Energy Services Steady GrowthPairCorr
  0.65RYEUX Europe 125x StrategyPairCorr
  0.82RYJTX Japan 2x StrategyPairCorr
  0.92RYKIX Banking Fund InvestorPairCorr
  0.7RYMBX Commodities StrategyPairCorr
  0.96RYMDX Mid Cap 15xPairCorr
  0.72RYMJX Commodities StrategyPairCorr

Moving against Nasdaq Mutual Fund

  1.0RYACX Inverse Nasdaq 100PairCorr
  0.42RYABX Government Long BondPairCorr
  0.93RYIHX Inverse High YieldPairCorr
  0.51RYIDX Rydex Dynamic FdsPairCorr
  0.63RYSJX Strengthening DollarPairCorr
  0.62RYSDX Strengthening DollarPairCorr
  0.62RYSBX Strengthening DollarPairCorr

Related Correlations Analysis

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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.