Nasdaq-100 Index Correlations

USNQX Fund

USD 49.68 1.05 2.16%

The current 90-days correlation between Nasdaq 100 Index and Sp 500 Index is 0.93 (i.e., Almost no 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 0.61 (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

1.0	UINQX	Usaa Nasdaq 100	Pair Corr
0.97	SRVEX	Victory Diversified Stock	Pair Corr
0.85	SSGSX	Victory Sycamore Small	Pair Corr
0.69	SBALX	Victory Strategic	Pair Corr
0.89	SSVSX	Victory Special Value	Pair Corr
0.92	SBFCX	Victory Incore Investment	Pair Corr
0.91	SBFMX	Victory Portfolios	Pair Corr
0.83	MMECX	Victory Integrity	Pair Corr
0.89	MMEAX	Victory Integrity	Pair Corr
0.89	RPPRX	Victory Rs Partners	Pair Corr
0.73	MMIJX	Victory Integrity Mid	Pair Corr
0.89	MMMMX	Victory Integrity	Pair Corr
0.87	MMMSX	Victory Integrity	Pair Corr
0.96	MNNAX	Victory Munder Multi	Pair Corr
0.88	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
0.75	RSINX	Victory Rs Investors	Pair Corr
0.74	RSIYX	Victory Rs Investors	Pair Corr
0.89	RSMMX	Victory Rs Small	Pair Corr
0.95	RSMOX	Victory Rs Mid	Pair Corr
0.85	RSPFX	Victory Rs Partners	Pair Corr

Moving against Nasdaq-100 Mutual Fund

0.66	IPFIX	Victory Incore	Pair Corr
0.63	RSDYX	Victory Incore Low	Pair Corr
0.58	UITCX	Usaa Intermediate Term	Pair Corr
0.57	UITBX	Intermediate Term Bond	Pair Corr
0.51	UINCX	Income Fund Income	Pair Corr
0.32	RSFYX	Victory Floating Rate	Pair Corr
0.48	RSIGX	Victory Rs International	Pair Corr
0.45	UPMMX	Precious Metals And	Pair Corr
0.31	RSYYX	Victory High Yield	Pair Corr

Related Correlations Analysis

	USSPX	USSCX	USMIX	USAWX	USIFX
USSPX		0.95	0.89	0.95	-0.36	USSPX
USSCX	0.95		0.88	0.85	-0.57	USSCX
USMIX	0.89	0.88		0.89	-0.49	USMIX
USAWX	0.95	0.85	0.89		-0.16	USAWX
USIFX	-0.36	-0.57	-0.49	-0.16		USIFX
	USSPX	USSCX	USMIX	USAWX	USIFX

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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

USSCX	+ 0.95	USSPX
USAWX	+ 0.95	USSPX
USMIX	+ 0.89	USSPX
USAWX	+ 0.89	USMIX
USMIX	+ 0.88	USSCX
USAWX	+ 0.85	USSCX

High negative correlations

USIFX	- 0.57	USSCX
USIFX	- 0.49	USMIX
USIFX	- 0.36	USSPX
USIFX	- 0.16	USAWX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
USSPX	0.84	(0.08)	0.00	(0.16)	0.00	0.00	1.30	(1.91)	4.68
USSCX	1.37	(0.12)	0.00	(0.17)	0.00	0.00	2.13	(3.91)	7.31
USMIX	1.05	(0.28)	0.00	(0.32)	0.00	0.00	1.46	(2.52)	11.08
USAWX	0.80	(0.09)	0.00	(0.19)	0.00	0.00	1.20	(1.92)	4.64
USIFX	0.65	0.11	0.15	0.12	0.77	(0.69)	1.27	(1.49)	5.12

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