Nasdaq-100 Index Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Index Fund
URNQX Fund  USD 49.71  1.05  2.16%   
The current 90-days correlation between Nasdaq 100 Index and Saat Defensive Strategy is 0.05 (i.e., Significant diversification). The correlation of Nasdaq-100 Index 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 Index Correlation With Market

Poor diversification

The correlation between Nasdaq 100 Index Fund and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq 100 Index Fund 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 Nasdaq 100 Index Fund. 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 Nasdaq-100 Mutual Fund

  0.71UICGX Capital GrowthPairCorr
  0.92UIGIX Growth IncomePairCorr
  0.98UIGRX Growth Fund GrowthPairCorr
  0.92UISCX Small Cap StockPairCorr
  0.93UIWGX World GrowthPairCorr
  0.97USPRX Sp 500 IndexPairCorr
  0.92UTMAX Target Managed AllocationPairCorr
  0.66UGOFX Global Managed VolatilityPairCorr
  0.93UIAGX Aggressive GrowthPairCorr
  0.93FAFGX American FundsPairCorr
  0.93FFAFX American FundsPairCorr
  0.92GFACX Growth FundPairCorr
  0.85GFAFX Growth FundPairCorr
  0.96AGTHX Growth FundPairCorr
  0.93CGFFX Growth FundPairCorr
  0.84CGFCX Growth FundPairCorr
  0.93CGFAX Growth FundPairCorr
  0.93CGFEX Growth FundPairCorr
  0.93RGAEX Growth FundPairCorr
  1.0DXQLX Direxion Monthly NasdaqPairCorr
  1.0RYVLX Nasdaq 100 2xPairCorr
  1.0RYVYX Nasdaq 100 2xPairCorr

Moving against Nasdaq-100 Mutual Fund

  0.66UIGSX Government SecuritiesPairCorr
  0.65URGSX Government SecuritiesPairCorr
  0.62UISBX Short Term BondPairCorr
  0.62URSBX Short Term BondPairCorr
  0.59URUSX Ultra Short TermPairCorr
  0.58UIITX Intermediate Term BondPairCorr
  0.58URIBX Intermediate Term BondPairCorr
  0.53UIINX Income Fund IncomePairCorr
  0.52URIFX Income Fund IncomePairCorr
  0.49UIIFX International FundPairCorr
  0.46UIPMX Precious Metals AndPairCorr
  0.65PRREX Putnam Absolute ReturnPairCorr
  0.6UUSIX Ultra Short TermPairCorr

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 Index 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 Index'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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