Nasdaq-100(r) Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 2x Strategy
RYVYX Fund  USD 602.69  4.50  0.75%   
The current 90-days correlation between Nasdaq 100 2x and Sp 500 2x is 0.95 (i.e., Almost no diversification). The correlation of Nasdaq-100(r) 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(r) Correlation With Market

Modest diversification

The correlation between Nasdaq 100 2x Strategy and DJI is 0.28 (i.e., Modest 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 manufacturing.

Moving together with Nasdaq-100(r) Mutual Fund

  0.64RYABX Government Long BondPairCorr
  0.63RYAKX Russell 2000 15xPairCorr
  0.77RYATX Nasdaq 100 FundPairCorr
  0.86RYANX Nova Fund ClassPairCorr
  0.84RYCHX Technology Fund ClassPairCorr
  0.64RYCGX Government Long BondPairCorr
  0.97RYCCX Nasdaq 100 2x Steady GrowthPairCorr
  0.63RYCMX Russell 2000 15xPairCorr

Moving against Nasdaq-100(r) Mutual Fund

  0.9RYARX Inverse Sp 500PairCorr
  0.72RYAIX Inverse Nasdaq 100PairCorr
  0.72RYALX Inverse Nasdaq 100PairCorr
  0.72RYAPX Inverse Nasdaq 100PairCorr
  0.7RYACX Inverse Nasdaq 100PairCorr
  0.63RYAFX Inverse Russell 2000PairCorr
  0.62RYAQX Inverse Government LongPairCorr
  0.84RYCBX Inverse Sp 500PairCorr
  0.62RYCQX Inverse Russell 2000PairCorr
  0.61RYCDX Rydex Inverse NasdaqPairCorr
  0.6RYCWX Inverse Dow 2xPairCorr
  0.6RYCZX Inverse Dow 2xPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
RYCVX
+ 0.91
RYTNX
RYTPX
+ 0.66
RYVNX
UOPIX
+ 0.26
RYTNX
RYCVX
+ 0.13
UOPIX
  
High negative correlations   
UOPIX
- 0.98
RYVNX
RYTPX
- 0.78
RYTNX
RYCVX
- 0.77
RYTPX
UOPIX
- 0.71
RYTPX
RYVNX
- 0.14
RYTNX
RYCVX
- 0.06
RYVNX

Risk-Adjusted Indicators

There is a big difference between Nasdaq-100(r) Mutual Fund performing well and Nasdaq-100(r) 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(r)'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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