Nasdaq-100 Fund Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Fund Class
RYHOX Fund  USD 69.39  1.46  2.15%   
The current 90-days correlation between Nasdaq 100 Fund and Nasdaq 100 Fund Class is 1.0 (i.e., No risk reduction). The correlation of Nasdaq-100 Fund 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 Fund Correlation With Market

Poor diversification

The correlation between Nasdaq 100 Fund Class and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq 100 Fund Class 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 Fund Class. 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 persons.

Moving together with Nasdaq-100 Mutual Fund

  0.83RYBKX Banking Fund ClassPairCorr
  0.79RYBHX Sp Midcap 400PairCorr
  0.94RYAKX Russell 2000 15xPairCorr
  0.91RYAHX Mid Cap 15xPairCorr
  1.0RYATX Nasdaq 100 FundPairCorr
  0.98RYANX Nova Fund ClassPairCorr
  0.86RYAZX Sp Smallcap 600PairCorr
  0.94RYAWX Sp 500 PurePairCorr
  0.84RYAVX Sp Midcap 400PairCorr
  0.8RYDHX Dow Jones IndustrialPairCorr
  0.91RYDCX Mid Cap 15xPairCorr
  0.81RYDKX Dow Jones IndustrialPairCorr
  0.99RYCHX Technology Fund ClassPairCorr
  1.0RYCCX Nasdaq 100 2xPairCorr
  0.91RYCNX Transportation Fund ClassPairCorr
  0.94RYCMX Russell 2000 15xPairCorr

Moving against Nasdaq-100 Mutual Fund

  1.0RYACX Inverse Nasdaq 100PairCorr
  1.0RYAIX Inverse Nasdaq 100PairCorr
  1.0RYALX Inverse Nasdaq 100PairCorr
  0.99RYARX Inverse Sp 500PairCorr
  0.94RYAFX Inverse Russell 2000PairCorr
  0.64RYAGX Inverse Mid CapPairCorr
  0.5RYAEX Europe 125x StrategyPairCorr
  0.49RYABX Government Long BondPairCorr
  1.0RYAPX Inverse Nasdaq 100PairCorr
  0.5RYCEX Europe 125x StrategyPairCorr
  0.48RYCGX Government Long BondPairCorr
  1.0RYCDX Rydex Inverse NasdaqPairCorr
  0.98RYCBX Inverse Sp 500PairCorr
  0.94RYCQX Inverse Russell 2000PairCorr
  0.84RYCWX Inverse Dow 2xPairCorr
  0.59RYCLX Inverse Mid CapPairCorr

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 Fund 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 Fund'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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