Nasdaq 100 Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Index Fund
VCNIX Fund  USD 24.93  0.02  0.08%   
The current 90-days correlation between Nasdaq 100 Index and Lord Abbett Short is 0.7 (i.e., 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

Very poor diversification

The correlation between Nasdaq 100 Index Fund 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 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

  0.99VCAAX Asset AllocationPairCorr
  0.94VVSCX Valic Company IPairCorr
  0.87VGREX Global Real EstatePairCorr
  0.99VLCGX Large Capital GrowthPairCorr
  1.0FAFGX American FundsPairCorr
  1.0FFAFX American FundsPairCorr
  1.0GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  0.99AGTHX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  0.99CGFCX Growth FundPairCorr
  0.99CGFAX Growth FundPairCorr
  0.99CGFEX Growth FundPairCorr
  1.0RGAEX Growth FundPairCorr
  0.98SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.97SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.94TTEEX T Rowe PricePairCorr
  0.94TREMX T Rowe PricePairCorr
  0.98FIKGX Fidelity Advisor SemPairCorr
  0.99ONERX One Rock Fund Steady GrowthPairCorr
  0.99FELCX Fidelity Advisor SemPairCorr
  0.99FELIX Fidelity Advisor SemPairCorr
  0.99FSELX Fidelity Select SemiPairCorr
  0.98FELAX Fidelity Advisor SemPairCorr
  0.81LSIIX Loomis Sayles InvestmentPairCorr
  0.97FTZFX Fuller Thaler BehavioralPairCorr
  0.98GGNPX Goldman Sachs HighPairCorr
  0.99CBLAX Columbia BalancedPairCorr
  0.98JECIX John Hancock VarPairCorr
  0.78GLEAX Goldman Sachs MlpPairCorr
  1.0OPTIX Oppenheimer CapitalPairCorr
  0.97VEVFX Vanguard Explorer ValuePairCorr
  0.95PNRZX Pgim Jennison NaturalPairCorr
  0.99BLARX Lord Abbett BalancedPairCorr
  0.98ANVHX American Century NonPairCorr
  0.98OAZMX Oakmark Fund R6PairCorr
  0.98WEGRX Allspring Emerging GrowthPairCorr

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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