Nasdaq-100 Fund Correlations

RYOCX Fund  USD 87.16  0.14  0.16%   
The current 90-days correlation between Nasdaq 100 Fund and Bbh Intermediate Municipal is -0.19 (i.e., Good diversification). The correlation of Nasdaq-100 Fund 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 Fund Correlation With Market

Poor diversification

The correlation between Nasdaq 100 Fund Investor and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq 100 Fund Investor 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 Fund Investor. 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 main economic indicators.

Moving together with NASDAQ-100 Mutual Fund

  0.72RYBCX Basic MaterialsPairCorr
  0.73RYBAX Basic MaterialsPairCorr
  0.83RYBKX Banking Fund ClassPairCorr
  0.73RYBMX Basic MaterialsPairCorr
  0.9RYBHX Sp Midcap 400PairCorr
  0.73RYBIX Basic MaterialsPairCorr
  0.88RYAKX Russell 2000 15x Steady GrowthPairCorr
  0.93RYAHX Mid Cap 15xPairCorr
  0.84RYAQX Inverse Government LongPairCorr
  1.0RYATX Nasdaq 100 FundPairCorr
  0.99RYANX Nova Fund ClassPairCorr
  0.81RYAZX Sp Smallcap 600PairCorr
  0.98RYAWX Sp 500 PurePairCorr
  0.91RYAVX Sp Midcap 400PairCorr
  0.93RYDHX Dow Jones IndustrialPairCorr
  0.93RYDCX Mid Cap 15xPairCorr
  0.93RYDKX Dow Jones IndustrialPairCorr
  0.63RYEAX Energy Fund ClassPairCorr
  0.62RYECX Energy Fund ClassPairCorr
  0.99RYCHX Technology Fund ClassPairCorr
  1.0RYCCX Nasdaq 100 2xPairCorr
  0.9RYCNX Transportation Fund ClassPairCorr
  0.88RYCMX Russell 2000 15x Steady GrowthPairCorr

Moving against NASDAQ-100 Mutual Fund

  1.0RYACX Inverse Nasdaq 100PairCorr
  1.0RYAIX Inverse Nasdaq 100PairCorr
  1.0RYALX Inverse Nasdaq 100PairCorr
  1.0RYAPX Inverse Nasdaq 100PairCorr
  0.99RYARX Inverse Sp 500PairCorr
  0.93RYAGX Inverse Mid CapPairCorr
  0.88RYAFX Inverse Russell 2000PairCorr
  0.83RYABX Government Long BondPairCorr
  0.67RYAEX Europe 125x StrategyPairCorr
  0.38RYBOX Biotechnology Fund ClassPairCorr
  1.0RYCDX Rydex Inverse Nasdaq Potential GrowthPairCorr
  0.98RYCBX Inverse Sp 500PairCorr
  0.93RYCLX Inverse Mid CapPairCorr
  0.93RYCWX Inverse Dow 2xPairCorr
  0.93RYCZX Inverse Dow 2xPairCorr
  0.88RYCQX Inverse Russell 2000PairCorr
  0.83RYCGX Government Long BondPairCorr
  0.67RYCEX Europe 125x StrategyPairCorr
  0.65RYCPX Consumer ProductsPairCorr
  0.64RYCAX Consumer ProductsPairCorr
  0.63RYCIX Consumer ProductsPairCorr
  0.39RYCFX Biotechnology Fund ClassPairCorr

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   
LTEBXBBINX
GMDFXAPDOX
VGCAXLTEBX
VGCAXMGGYX
VGCAXBBINX
LSHEXAPDOX
  
High negative correlations   
VGCAXLSHEX
LSHEXBBINX
LSHEXLTEBX
LSHEXMGGYX
VGCAXAPDOX
APDOXBBINX

Risk-Adjusted Indicators

There is a big difference between NASDAQ-100 Mutual Fund performing well and Nasdaq-100 Fund 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 Fund'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.