Nasdaq-100(r) Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 2x Strategy
RYVLX Fund  USD 616.36  6.41  1.03%   
The current 90-days correlation between Nasdaq 100 2x and Nasdaq 100 2x Strategy is 0.03 (i.e., Significant diversification). The correlation of Nasdaq-100(r) 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(r) Correlation With Market

Good diversification

The correlation between Nasdaq 100 2x Strategy and DJI is -0.17 (i.e., 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 bureau of economic analysis.

Moving together with Nasdaq-100(r) Mutual Fund

  1.0RYANX Nova Fund ClassPairCorr
  0.99RYCCX Nasdaq 100 2xPairCorr
  0.96RYFIX Financial ServicesPairCorr
  0.61RYHIX Health Care FundPairCorr
  0.93RYKAX Banking Fund ClassPairCorr
  0.94RYKIX Banking Fund InvestorPairCorr
  0.65RYMBX Commodities StrategyPairCorr
  0.97RYMDX Mid Cap 15xPairCorr
  0.66RYMNX Precious Metals Steady GrowthPairCorr
  0.71RYMPX Precious MetalsPairCorr
  0.98RYLIX Leisure Fund InvestorPairCorr
  0.97RYLDX Dow 2x StrategyPairCorr
  0.94RYPIX Transportation FundPairCorr
  0.71RYPMX Precious MetalsPairCorr
  0.97RYSVX Sp Smallcap 600PairCorr
  0.94RYRIX Retailing Fund InvestorPairCorr
  1.0RYVYX Nasdaq 100 2xPairCorr
  0.66RYZCX Precious Metals Steady GrowthPairCorr
  0.99UOPSX Ultranasdaq 100 ProfundPairCorr
  0.99DXQLX Direxion Monthly NasdaqPairCorr
  0.69BIPIX Biotechnology UltrasectorPairCorr

Moving against Nasdaq-100(r) Mutual Fund

  0.96RYAGX Inverse Mid CapPairCorr
  0.95RYIHX Inverse High YieldPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Nasdaq-100(r) Mutual Fund performing well and Nasdaq-100(r) 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(r)'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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