Nasdaq 100 Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 2x Strategy
RYVLX Fund  USD 635.50  18.74  3.04%   
The current 90-days correlation between Nasdaq 100 2x and Nasdaq 100 2x Strategy is -0.32 (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

Very good diversification

The correlation between Nasdaq 100 2x Strategy and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq 100 2x Strategy 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 2x Strategy. 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 industry.

Moving together with Nasdaq Mutual Fund

  0.76RYBHX Sp Midcap 400PairCorr
  0.89RYAHX Mid Cap 15xPairCorr
  0.73RYATX Nasdaq 100 FundPairCorr
  0.77RYAWX Sp 500 PurePairCorr
  0.76RYCFX Biotechnology Fund ClassPairCorr
  0.73RYCHX Technology Fund ClassPairCorr
  0.97RYCCX Nasdaq 100 2xPairCorr
  0.9RYCMX Russell 2000 15xPairCorr
  0.67RYCYX Dow 2x StrategyPairCorr
  0.78RYCTX Sp 500 2xPairCorr
  0.64RYFIX Financial ServicesPairCorr
  0.7RYELX Electronics Fund ClassPairCorr
  0.86RYHOX Nasdaq 100 FundPairCorr
  0.78RYICX Internet Fund ClassPairCorr
  0.92RYHHX High Yield StrategyPairCorr
  0.65RYKIX Banking Fund InvestorPairCorr
  0.72RYMDX Mid Cap 15xPairCorr
  0.63RYLDX Dow 2x StrategyPairCorr
  0.86RYOCX Nasdaq 100 FundPairCorr
  0.78RYNVX Nova Fund InvestorPairCorr
  0.68RYPIX Transportation FundPairCorr
  0.77RYSAX Electronics Fund ClassPairCorr
  0.77RYSCX Electronics Fund ClassPairCorr
  0.77RYSIX Electronics Fund InvestorPairCorr
  0.9RYSVX Sp Smallcap 600 Steady GrowthPairCorr
  0.79RYTAX Technology Fund ClassPairCorr
  0.7RYRLX Russell 2000 2xPairCorr

Moving against Nasdaq Mutual Fund

  0.86RYIHX Inverse High YieldPairCorr
  0.68RYIDX Rydex Dynamic FdsPairCorr
  0.59RYAGX Inverse Mid CapPairCorr
  0.94RYWWX Inverse Emerging MarketsPairCorr
  0.8RYVTX Inverse Nasdaq 100PairCorr
  0.78RYTPX Inverse Sp 500PairCorr

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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