Nasdaq 100 Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Index Fund
VCNIX Fund  USD 24.52  0.20  0.81%   
The current 90-days correlation between Nasdaq 100 Index and Calvert Global Energy is 0.86 (i.e., Very poor 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

Almost no diversification

The correlation between Nasdaq 100 Index Fund and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq 100 Index Fund 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 Nasdaq 100 Index Fund. 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 Nasdaq Mutual Fund

  0.97VMIDX Mid Cap IndexPairCorr
  1.0VMSGX Mid Cap StrategicPairCorr
  0.96VAPPX Valic Company IPairCorr
  1.0VSRDX Valic Company IPairCorr
  1.0VSTIX Stock Index FundPairCorr
  0.85VSSVX Small Cap SpecialPairCorr
  0.98VBCVX Broad Cap ValuePairCorr
  0.99VCAAX Asset AllocationPairCorr
  1.0VCBCX Blue Chip GrowthPairCorr
  0.99VCGAX Growth IncomePairCorr
  0.97VCGEX Emerging EconomiesPairCorr
  0.93VCFVX Foreign ValuePairCorr
  0.94VCIEX International EquitiesPairCorr
  0.7VCIFX International GovernmentPairCorr
  0.97VCIGX Valic Company IPairCorr
  0.96VCINX International GrowthPairCorr
  1.0VCSTX Science TechnologyPairCorr
  0.92VCSOX Global Social AwarenessPairCorr
  0.98VCSLX Small Cap IndexPairCorr
  1.0VCULX Growth Fund GrowthPairCorr
  0.99VDAFX Dynamic AllocationPairCorr
  0.92VVMCX Valic Company IPairCorr
  0.99VVSGX Valic Company IPairCorr
  0.88VVSCX Valic Company IPairCorr
  0.97VGCLX Valic Company IPairCorr
  0.95VGLSX Global StrategyPairCorr
  0.89VGREX Global Real EstatePairCorr
  0.95VHYLX Valic Company IPairCorr
  0.97VIOPX Valic Company IPairCorr
  0.95VLAGX Valic Company IPairCorr
  0.99VLCGX Large Capital GrowthPairCorr
  0.95VLSMX Valic Company IPairCorr
  1.0FAFGX American FundsPairCorr
  1.0FFAFX American FundsPairCorr
  1.0GFACX Growth FundPairCorr
  0.97GFAFX Growth FundPairCorr

Moving against Nasdaq Mutual Fund

  0.98USPSX Profunds UltrashortPairCorr
  0.97UIPIX Ultrashort Mid CapPairCorr
  0.95USPIX Profunds UltrashortPairCorr
  0.88TCSUX Cleartrack 2020 ClassPairCorr
  0.87TCTGX Transamerica CleartrackPairCorr
  0.87TDKTX Cleartrack 2015 ClassPairCorr
  0.87TCTJX Transamerica CleartrackPairCorr

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.

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