Nasdaq-100 Fund Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Fund Investor
RYOCX Fund  USD 90.67  0.50  0.55%   
The current 90-days correlation between Nasdaq 100 Fund and Simt High Yield is -0.13 (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

Poor diversification

The correlation between Nasdaq 100 Fund Investor and DJI is 0.76 (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 Investor 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 Investor. 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 main economic indicators.

Moving together with Nasdaq-100 Mutual Fund

  0.94RYBCX Basic MaterialsPairCorr
  0.94RYBAX Basic MaterialsPairCorr
  0.94RYBKX Banking Fund ClassPairCorr
  0.93RYBMX Basic MaterialsPairCorr
  0.94RYBHX Sp Midcap 400PairCorr
  0.93RYBIX Basic MaterialsPairCorr
  0.95RYAHX Mid Cap 15xPairCorr
  0.99RYATX Nasdaq 100 FundPairCorr
  0.98RYANX Nova Fund ClassPairCorr
  0.99RYAWX Sp 500 PurePairCorr
  0.88RYECX Energy Fund ClassPairCorr
  0.69RYCFX Biotechnology Fund ClassPairCorr
  1.0RYCCX Nasdaq 100 2xPairCorr
  0.99RYCOX Nasdaq 100 FundPairCorr
  0.96RYCVX Dow 2x StrategyPairCorr
  0.96RYCYX Dow 2x StrategyPairCorr
  0.97RYFIX Financial ServicesPairCorr
  0.79RYESX Energy ServicesPairCorr
  0.88RYENX Energy Fund ClassPairCorr
  0.86RYEUX Europe 125x StrategyPairCorr
  0.97RYFCX Financial ServicesPairCorr
  0.99RYHOX Nasdaq 100 FundPairCorr
  0.78RYHRX Real Estate FundPairCorr
  0.83RYJTX Japan 2x StrategyPairCorr
  0.84RYJSX Japan 2x StrategyPairCorr
  0.94RYKIX Banking Fund InvestorPairCorr
  0.84RYJHX Japan 2x StrategyPairCorr
  0.72RYMBX Commodities StrategyPairCorr
  0.95RYMDX Mid Cap 15xPairCorr
  0.73RYMJX Commodities StrategyPairCorr

Moving against Nasdaq-100 Mutual Fund

  0.98RYACX Inverse Nasdaq 100PairCorr
  0.4RYABX Government Long BondPairCorr
  0.96RYIDX Rydex Dynamic FdsPairCorr
  0.94RYIHX Inverse High YieldPairCorr
  0.38RYHBX Government Long BondPairCorr
  0.58RYSDX Strengthening Dollar Steady GrowthPairCorr
  0.57RYSJX Strengthening Dollar Steady GrowthPairCorr
  0.55RYSBX 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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