Nasdaq-100 Profund Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Profund Nasdaq 100
OTPIX Fund  USD 42.05  0.25  0.59%   
The current 90-days correlation between Nasdaq 100 Profund and Bull Profund Investor is 0.96 (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

Poor diversification

The correlation between Nasdaq 100 Profund Nasdaq 100 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 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

  0.89TEPIX Technology UltrasectorPairCorr
  0.85TEPSX Technology UltrasectorPairCorr
  0.94LGPIX Large Cap GrowthPairCorr
  0.99LGPSX Profunds Large CapPairCorr
  0.81UJPIX Ultrajapan ProfundPairCorr
  1.0OTPSX Nasdaq 100 ProfundPairCorr
  0.81UJPSX Ultrajapan ProfundPairCorr
  0.88MLPSX Mid Cap ValuePairCorr
  0.88MLPIX Mid Cap ValuePairCorr
  0.82BTCFX Bitcoin Strategy Profund Steady GrowthPairCorr
  0.94INPIX Internet UltrasectorPairCorr
  0.91INPSX Internet UltrasectorPairCorr
  0.93ULPIX Ultrabull ProfundPairCorr
  0.98ULPSX Ultrabull ProfundPairCorr
  0.66WCPIX Mobile Telecommunicatio Steady GrowthPairCorr
  0.67WCPSX Mobile Telecommunicatio Steady GrowthPairCorr
  0.76OEPSX Oil Equipment Services Steady GrowthPairCorr
  0.92CYPSX Consumer Services Steady GrowthPairCorr
  0.9CYPIX Consumer Services Steady GrowthPairCorr
  0.78OEPIX Oil Equipment Services Steady GrowthPairCorr
  0.92SVPIX Small Cap ValuePairCorr
  0.92SVPSX Small Cap ValuePairCorr
  0.92UMPSX Ultramid Cap ProfundPairCorr
  0.91UMPIX Ultramid Cap ProfundPairCorr

Moving against Nasdaq-100 Mutual Fund

  0.92UIPIX Ultrashort Mid CapPairCorr
  0.92UIPSX Ultrashort Mid CapPairCorr
  0.92BRPIX Bear Profund BearPairCorr
  0.92BRPSX Bear Profund BearPairCorr
  0.81UKPSX Ultrashort Japan ProfundPairCorr
  0.81UKPIX Ultrashort Japan ProfundPairCorr
  0.57GVPIX Us Government PlusPairCorr
  0.56GVPSX Us Government PlusPairCorr
  0.81FDPIX Falling Dollar ProfundPairCorr
  0.78FDPSX Falling Dollar ProfundPairCorr
  0.5UNPIX UltrainternationalPairCorr
  0.5UNPSX UltrainternationalPairCorr

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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