Ultra Nasdaq-100 Correlations

UOPIX Fund

USD 100.39 3.83 3.67%

The current 90-days correlation between Ultra Nasdaq 100 and Ultrabull Profund Investor is 0.95 (i.e., Almost no diversification). The correlation of Ultra 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.

Ultra Nasdaq-100 Correlation With Market

Poor diversification

The correlation between Ultra Nasdaq 100 Profunds and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ultra Nasdaq 100 Profunds 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 Ultra Nasdaq 100 Profunds. 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 Ultra Mutual Fund

0.86	TEPIX	Technology Ultrasector	Pair Corr
0.94	TEPSX	Technology Ultrasector	Pair Corr
0.99	LGPIX	Large Cap Growth	Pair Corr
0.91	LGPSX	Profunds Large Cap	Pair Corr
1.0	OTPIX	Nasdaq 100 Profund	Pair Corr
1.0	OTPSX	Nasdaq 100 Profund	Pair Corr
0.67	UJPSX	Ultrajapan Profund	Pair Corr
0.89	MLPSX	Mid Cap Value	Pair Corr
0.89	MLPIX	Mid Cap Value	Pair Corr
0.61	BTCFX	Bitcoin Strategy Profund	Pair Corr
0.94	INPIX	Internet Ultrasector	Pair Corr
0.88	INPSX	Internet Ultrasector	Pair Corr
0.99	ULPIX	Ultrabull Profund	Pair Corr
0.99	ULPSX	Ultrabull Profund	Pair Corr
0.8	OEPSX	Oil Equipment Services	Pair Corr
0.93	CYPIX	Consumer Services Steady Growth	Pair Corr
0.78	OEPIX	Oil Equipment Services	Pair Corr
0.92	SVPIX	Small Cap Value	Pair Corr
0.92	SVPSX	Small Cap Value	Pair Corr
0.92	UMPSX	Ultramid Cap Profund	Pair Corr
0.88	UMPIX	Ultramid Cap Profund	Pair Corr
1.0	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.63	RTPIX	Rising Rates Opportunity	Pair Corr

Moving against Ultra Mutual Fund

0.92	UIPIX	Ultrashort Mid Cap	Pair Corr
0.92	UIPSX	Ultrashort Mid Cap	Pair Corr
0.9	BRPSX	Bear Profund Bear	Pair Corr
0.61	GVPIX	Us Government Plus	Pair Corr
0.6	GVPSX	Us Government Plus	Pair Corr
0.65	UKPSX	Ultrashort Japan Profund	Pair Corr
0.41	UNPIX	Ultrainternational	Pair Corr
0.95	SHPSX	Short Small Cap	Pair Corr
0.91	USPIX	Profunds Ultrashort	Pair Corr
0.79	SHPIX	Short Small Cap	Pair Corr
0.49	PMPIX	Precious Metals Ultr	Pair Corr

Related Correlations Analysis

	ULPIX	USPIX	UAPIX	UMPIX	INPIX
ULPIX		-0.9	0.94	0.89	0.96	ULPIX
USPIX	-0.9		-0.85	-0.91	-0.88	USPIX
UAPIX	0.94	-0.85		0.92	0.91	UAPIX
UMPIX	0.89	-0.91	0.92		0.88	UMPIX
INPIX	0.96	-0.88	0.91	0.88		INPIX
	ULPIX	USPIX	UAPIX	UMPIX	INPIX

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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

INPIX	+ 0.96	ULPIX
UAPIX	+ 0.94	ULPIX
UMPIX	+ 0.92	UAPIX
INPIX	+ 0.91	UAPIX
UMPIX	+ 0.89	ULPIX
INPIX	+ 0.88	UMPIX

High negative correlations

UMPIX	- 0.91	USPIX
USPIX	- 0.9	ULPIX
INPIX	- 0.88	USPIX
UAPIX	- 0.85	USPIX

Risk-Adjusted Indicators

There is a big difference between Ultra Mutual Fund performing well and Ultra 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 Ultra 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ULPIX	1.66	(0.23)	0.00	(0.13)	0.00	0.00	3.14	(3.55)	9.08
USPIX	2.19	0.30	0.13	(0.15)	2.20	(2.54)	5.52	(3.31)	12.70
UAPIX	1.90	(0.32)	0.00	(0.15)	0.00	0.00	3.65	(4.46)	9.82
UMPIX	1.70	(0.19)	0.00	1.15	0.00	0.00	2.92	(3.23)	8.05
INPIX	1.77	(0.19)	0.00	(0.12)	0.00	0.00	2.81	(4.31)	9.56

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