Nasdaq-100 Profund Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Profund Nasdaq 100
OTPIX Fund  USD 48.59  0.03  0.06%   
The current 90-days correlation between Nasdaq 100 Profund and Bull Profund Investor is 0.97 (i.e., Almost no diversification). The correlation of Nasdaq-100 Profund 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 Profund Correlation With Market

Very poor diversification

The correlation between Nasdaq 100 Profund Nasdaq 100 and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq 100 Profund Nasdaq 100 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 Profund Nasdaq 100. 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-100 Mutual Fund

  0.74TEPIX Technology UltrasectorPairCorr
  0.99TEPSX Technology UltrasectorPairCorr
  1.0LGPIX Large Cap GrowthPairCorr
  0.76LGPSX Profunds Large CapPairCorr
  0.95UJPIX Ultrajapan ProfundPairCorr
  1.0OTPSX Nasdaq 100 ProfundPairCorr
  0.95UJPSX Ultrajapan ProfundPairCorr
  0.96MLPSX Mid Cap ValuePairCorr
  0.96MLPIX Mid Cap ValuePairCorr
  0.61ENPSX Oil Gas UltrasectorPairCorr
  0.79ENPIX Oil Gas UltrasectorPairCorr
  0.91BTCFX Bitcoin Strategy ProfundPairCorr
  0.77PHPIX Pharmaceuticals UltrasectorPairCorr
  0.76PHPSX Pharmaceuticals UltrasectorPairCorr
  0.99INPIX Internet UltrasectorPairCorr
  0.78INPSX Internet UltrasectorPairCorr
  1.0ULPIX Ultrabull ProfundPairCorr
  1.0ULPSX Ultrabull ProfundPairCorr
  0.99WCPIX Mobile TelecommunicatioPairCorr
  0.99WCPSX Mobile TelecommunicatioPairCorr
  0.8OEPSX Oil Equipment ServicesPairCorr
  0.96CYPSX Consumer ServicesPairCorr
  0.96CYPIX Consumer ServicesPairCorr
  0.8OEPIX Oil Equipment ServicesPairCorr
  0.96SVPIX Small Cap ValuePairCorr
  0.96SVPSX Small Cap ValuePairCorr
  0.97UMPSX Ultramid Cap ProfundPairCorr
  0.97UMPIX Ultramid Cap ProfundPairCorr

Moving against Nasdaq-100 Mutual Fund

  1.0BRPIX Bear Profund BearPairCorr
  1.0BRPSX Bear Profund BearPairCorr
  0.97UIPSX Ultrashort Mid CapPairCorr
  0.96UKPSX Ultrashort Japan ProfundPairCorr
  0.96UKPIX Ultrashort Japan ProfundPairCorr
  0.75UIPIX Ultrashort Mid CapPairCorr
  0.72SRPSX Short Real EstatePairCorr
  0.45GVPSX Us Government PlusPairCorr
  0.43SRPIX Short Real EstatePairCorr

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 Profund 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 Profund'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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