Nasdaq 100 Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 2x Strategy
RYVLX Fund  USD 617.92  9.20  1.51%   
The current 90-days correlation between Nasdaq 100 2x and Nasdaq 100 2x Strategy is 0.06 (i.e., Significant 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

Good diversification

The correlation between Nasdaq 100 2x Strategy and DJI is -0.06 (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 Mutual Fund

  0.95RYBCX Basic MaterialsPairCorr
  0.95RYBAX Basic MaterialsPairCorr
  0.96RYBKX Banking Fund ClassPairCorr
  0.95RYBMX Basic MaterialsPairCorr
  0.95RYBHX Sp Midcap 400PairCorr
  0.94RYBIX Basic MaterialsPairCorr
  0.76RYBOX Biotechnology Fund ClassPairCorr
  0.98RYAKX Russell 2000 15xPairCorr
  0.94RYAEX Europe 125x StrategyPairCorr
  0.97RYAHX Mid Cap 15xPairCorr
  0.91RYAUX Utilities Fund ClassPairCorr
  1.0RYATX Nasdaq 100 FundPairCorr
  1.0RYANX Nova Fund ClassPairCorr
  0.95RYAZX Sp Smallcap 600PairCorr
  0.97RYAWX Sp 500 PurePairCorr
  0.95RYAVX Sp Midcap 400PairCorr
  0.97RYDHX Dow Jones IndustrialPairCorr
  0.97RYDCX Mid Cap 15xPairCorr
  0.96RYDKX Dow Jones IndustrialPairCorr
  0.91RYEAX Energy Fund ClassPairCorr
  0.9RYECX Energy Fund ClassPairCorr
  0.75RYCFX Biotechnology Fund ClassPairCorr
  0.92RYCEX Europe 125x StrategyPairCorr
  0.99RYCHX Technology Fund ClassPairCorr
  0.99RYCCX Nasdaq 100 2xPairCorr
  0.94RYCNX Transportation Fund ClassPairCorr
  0.96RYCMX Russell 2000 15xPairCorr

Moving against Nasdaq Mutual Fund

  0.99RYACX Inverse Nasdaq 100PairCorr
  0.98RYAIX Inverse Nasdaq 100PairCorr
  0.98RYALX Inverse Nasdaq 100PairCorr
  0.98RYARX Inverse Sp 500PairCorr
  0.98RYAPX Inverse Nasdaq 100PairCorr
  0.94RYAGX Inverse Mid CapPairCorr
  0.7RYAFX Inverse Russell 2000PairCorr
  0.37RYABX Government Long BondPairCorr
  0.98RYCBX Inverse Sp 500PairCorr
  0.98RYCDX Rydex Inverse NasdaqPairCorr
  0.98RYCQX Inverse Russell 2000PairCorr
  0.96RYCWX Inverse Dow 2xPairCorr
  0.96RYCZX Inverse Dow 2xPairCorr
  0.94RYCLX Inverse Mid CapPairCorr
  0.4RYCGX Government Long BondPairCorr
  0.36RYGBX Government Long BondPairCorr

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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