Usaa Nasdaq Correlations

UINQX Fund

USD 48.69 0.19 0.39%

The current 90-days correlation between Usaa Nasdaq 100 and Aqr Small Cap is 0.8 (i.e., Very poor diversification). The correlation of Usaa Nasdaq 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.

Usaa Nasdaq Correlation With Market

Poor diversification

The correlation between Usaa Nasdaq 100 and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Usaa Nasdaq 100 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 Usaa 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 producer price index.

Moving together with Usaa Mutual Fund

0.97	SRVEX	Victory Diversified Stock	Pair Corr
0.9	SSGSX	Victory Sycamore Small	Pair Corr
0.68	SBALX	Victory Strategic	Pair Corr
0.97	SSVSX	Victory Special Value	Pair Corr
0.92	SBFCX	Victory Incore Investment	Pair Corr
0.92	SBFMX	Victory Portfolios	Pair Corr
0.86	MMECX	Victory Integrity	Pair Corr
0.95	MMEAX	Victory Integrity	Pair Corr
0.82	RPPRX	Victory Rs Partners	Pair Corr
0.83	MMIJX	Victory Integrity Mid	Pair Corr
0.86	MMMMX	Victory Integrity	Pair Corr
0.92	MMMSX	Victory Integrity	Pair Corr
0.96	MNNAX	Victory Munder Multi	Pair Corr
0.78	RSEGX	Victory Rs Small	Pair Corr
0.94	RSDGX	Victory Rs Select	Pair Corr
0.97	RSGGX	Victory Rs Global	Pair Corr
0.94	RSGFX	Victory Rs Select	Pair Corr
0.98	RSGRX	Victory Rs Growth	Pair Corr
0.98	RSIFX	Victory Rs Science	Pair Corr
0.76	RSINX	Victory Rs Investors	Pair Corr
0.75	RSIYX	Victory Rs Investors	Pair Corr
0.88	RSMMX	Victory Rs Small	Pair Corr
0.95	RSMOX	Victory Rs Mid	Pair Corr
0.89	RSPFX	Victory Rs Partners	Pair Corr

Moving against Usaa Mutual Fund

0.66	IPFIX	Victory Incore	Pair Corr
0.62	RSDYX	Victory Incore Low	Pair Corr
0.61	UITCX	Usaa Intermediate Term	Pair Corr
0.59	UITBX	Intermediate Term Bond	Pair Corr
0.53	UINCX	Income Fund Income	Pair Corr
0.48	RSIGX	Victory Rs International	Pair Corr
0.41	UPMMX	Precious Metals And	Pair Corr

Related Correlations Analysis

	QSERX	CIPNX	CSCJX	CCMSX	GMVIX	GLVIX
QSERX		0.96	0.05	0.0	0.97	0.75	QSERX
CIPNX	0.96		0.1	0.0	0.95	0.83	CIPNX
CSCJX	0.05	0.1		0.0	-0.01	0.31	CSCJX
CCMSX	0.0	0.0	0.0		0.0	0.0	CCMSX
GMVIX	0.97	0.95	-0.01	0.0		0.68	GMVIX
GLVIX	0.75	0.83	0.31	0.0	0.68		GLVIX
	QSERX	CIPNX	CSCJX	CCMSX	GMVIX	GLVIX

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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

GMVIX	+ 0.97	QSERX
CIPNX	+ 0.96	QSERX
GMVIX	+ 0.95	CIPNX
GLVIX	+ 0.83	CIPNX
GLVIX	+ 0.75	QSERX
GLVIX	+ 0.68	GMVIX

High negative correlations

GMVIX	- 0.01	CSCJX
GLVIX	- 0.0	CCMSX
GMVIX	- 0.0	CCMSX
CCMSX	- 0.0	CSCJX
CCMSX	- 0.0	CIPNX
CCMSX	- 0.0	QSERX

Risk-Adjusted Indicators

There is a big difference between Usaa Mutual Fund performing well and Usaa Nasdaq 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 Usaa Nasdaq'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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
QSERX	0.96	(0.04)	(0.11)	1.83	(2.01)	5.43
CIPNX	0.86	(0.06)	(0.13)	1.38	(1.96)	4.80
CSCJX	0.33	0.00	(0.07)	0.91	(1.12)	4.54
CCMSX	0.00	0.00	0.00	0.00	0.00	0.00
GMVIX	0.83	(0.04)	(0.12)	1.46	(1.90)	4.04
GLVIX	0.91	0.01	(0.06)	1.50	(2.01)	5.60

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