Ultra Nasdaq-100 Correlations

UOPIX Fund

USD 116.54 0.41 0.35%

The current 90-days correlation between Ultra Nasdaq 100 and Nasdaq 100 2x Strategy is 1.0 (i.e., No risk reduction). The correlation of Ultra 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.

Ultra Nasdaq-100 Correlation With Market

Poor diversification

The correlation between Ultra Nasdaq 100 Profunds and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ultra Nasdaq 100 Profunds and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Ultra Nasdaq 100 Profunds. 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 gross domestic product.

Moving together with Ultra Mutual Fund

0.98	TEPIX	Technology Ultrasector	Pair Corr
0.9	MLPSX	Mid Cap Value	Pair Corr
0.83	BTCFX	Bitcoin Strategy Profund Steady Growth	Pair Corr
0.93	INPSX	Internet Ultrasector	Pair Corr
0.92	UMPSX	Ultramid Cap Profund	Pair Corr
1.0	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.86	UAPIX	Ultrasmall Cap Profund Steady Growth	Pair Corr
0.79	UAPSX	Ultrasmall Cap Profund Steady Growth	Pair Corr
0.77	BKPSX	Banks Ultrasector Profund Steady Growth	Pair Corr
0.72	BKPIX	Banks Ultrasector Profund Steady Growth	Pair Corr
0.87	SMPIX	Semiconductor Ultrasector	Pair Corr
0.64	BMPIX	Basic Materials Ultr Potential Growth	Pair Corr
0.75	FNPIX	Financials Ultrasector	Pair Corr
1.0	RYVYX	Nasdaq 100 2x	Pair Corr
1.0	RYVLX	Nasdaq 100 2x	Pair Corr
1.0	RYCCX	Nasdaq 100 2x	Pair Corr
1.0	RMQHX	Monthly Rebalance	Pair Corr
1.0	RMQAX	Monthly Rebalance	Pair Corr
1.0	RMQCX	Monthly Rebalance	Pair Corr
1.0	DXQLX	Direxion Monthly Nasdaq	Pair Corr

Moving against Ultra Mutual Fund

0.92	UIPIX	Ultrashort Mid Cap	Pair Corr
0.74	GVPIX	Us Government Plus	Pair Corr
1.0	USPIX	Profunds Ultrashort	Pair Corr
1.0	USPSX	Profunds Ultrashort	Pair Corr
0.6	SNPIX	Short Oil Gas	Pair Corr
0.42	SPPIX	Short Precious Metals	Pair Corr
0.57	PQTNX	Pimco Trends Managed	Pair Corr
0.5	GPBFX	Gmo E Plus	Pair Corr
0.5	PQTAX	Pimco Trends Managed	Pair Corr
0.49	PQTIX	Aa Pimco Tr	Pair Corr
0.4	GPMFX	Guidepath Managed Futures	Pair Corr

Related Correlations Analysis

	RYVLX	SCRYY	AQUI	MSTSX	LBHIX	ID	SCAXF	VIASP	AAEVX	RRTLX
RYVLX		0.57	0.0	0.8	0.54	0.74	0.0	0.35	0.84	0.67	RYVLX
SCRYY	0.57		0.0	0.83	0.77	0.32	0.0	0.44	0.77	0.8	SCRYY
AQUI	0.0	0.0		0.0	0.0	0.0	-1.0	0.0	0.0	0.0	AQUI
MSTSX	0.8	0.83	0.0		0.84	0.44	0.0	0.41	0.91	0.89	MSTSX
LBHIX	0.54	0.77	0.0	0.84		0.25	0.0	0.54	0.8	0.86	LBHIX
ID	0.74	0.32	0.0	0.44	0.25		0.0	0.29	0.58	0.42	ID
SCAXF	0.0	0.0	-1.0	0.0	0.0	0.0		0.0	0.0	0.0	SCAXF
VIASP	0.35	0.44	0.0	0.41	0.54	0.29	0.0		0.52	0.51	VIASP
AAEVX	0.84	0.77	0.0	0.91	0.8	0.58	0.0	0.52		0.93	AAEVX
RRTLX	0.67	0.8	0.0	0.89	0.86	0.42	0.0	0.51	0.93		RRTLX
	RYVLX	SCRYY	AQUI	MSTSX	LBHIX	ID	SCAXF	VIASP	AAEVX	RRTLX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RRTLX	+ 0.93	AAEVX
AAEVX	+ 0.91	MSTSX
RRTLX	+ 0.89	MSTSX
RRTLX	+ 0.86	LBHIX
AAEVX	+ 0.84	RYVLX
LBHIX	+ 0.84	MSTSX

High negative correlations

SCAXF	- 1.0	AQUI
RRTLX	- 0.0	SCAXF
AAEVX	- 0.0	SCAXF
VIASP	- 0.0	SCAXF
SCAXF	- 0.0	ID
SCAXF	- 0.0	LBHIX

Risk-Adjusted Indicators

There is a big difference between Ultra Mutual Fund performing well and Ultra 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 Ultra 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RYVLX	1.67	0.02	0.08	0.17	1.96	(1.67)	4.95	(3.34)	11.27
SCRYY	1.94	0.24	0.03	(8.82)	2.05	(2.53)	4.41	(4.09)	12.99
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.53	(0.02)	(0.10)	0.13	0.47	(0.65)	1.21	(1.02)	2.79
LBHIX	0.12	0.03	(0.50)	0.81	0.00	(0.28)	0.24	(0.24)	0.96
ID	3.61	0.36	0.03	4.02	4.70	(4.64)	7.69	(7.69)	23.97
SCAXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VIASP	0.79	0.15	0.00	2.33	1.01	(0.90)	2.09	(1.15)	7.18
AAEVX	0.53	0.14	(0.04)	(1.68)	0.43	(0.65)	1.32	(0.72)	3.24
RRTLX	0.24	0.05	(0.32)	7.00	0.11	(0.30)	0.65	(0.48)	1.37

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