Nasdaq-100 Index Correlations

USNQX Fund

USD 52.74 0.86 1.66%

The current 90-days correlation between Nasdaq 100 Index and Sp 500 Index is 0.9 (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

Very weak diversification

The correlation between Nasdaq 100 Index Fund and DJI is 0.54 (i.e., Very weak 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

0.95	AGTHX	Growth Fund	Pair Corr
0.61	CIF	Mfs Intermediate High	Pair Corr
0.69	XPPRX	Voya Prime Rate	Pair Corr
0.62	WMT	Walmart	Pair Corr
0.65	AXP	American Express Earnings Call This Week	Pair Corr

Moving against Nasdaq-100 Mutual Fund

0.47	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.41	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr

Related Correlations Analysis

	USSPX	USSCX	USMIX	USAWX	USIFX
USSPX		0.66	0.77	0.77	0.45	USSPX
USSCX	0.66		0.12	0.09	-0.16	USSCX
USMIX	0.77	0.12		0.91	0.73	USMIX
USAWX	0.77	0.09	0.91		0.85	USAWX
USIFX	0.45	-0.16	0.73	0.85		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

USAWX	+ 0.91	USMIX
USIFX	+ 0.85	USAWX
USMIX	+ 0.77	USSPX
USAWX	+ 0.77	USSPX
USIFX	+ 0.73	USMIX
USSCX	+ 0.66	USSPX

High negative correlations

USIFX

- 0.16

USSCX

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	0.63	(0.01)	(0.01)	0.01	0.96	(0.62)	1.25	(1.52)	5.61
USSCX	1.10	0.08	0.05	0.11	1.35	(1.14)	2.12	(2.13)	7.06
USMIX	0.95	(0.14)	0.00	(0.21)	0.00	0.00	1.61	(1.48)	15.54
USAWX	0.60	(0.10)	0.00	(0.15)	0.00	0.00	1.15	(1.41)	5.95
USIFX	0.53	(0.10)	0.00	(0.37)	0.00	0.00	1.11	(1.49)	3.36

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