Inverse Nasdaq-100 Correlations

RYALX Fund

USD 14.40 0.12 0.84%

The current 90-days correlation between Inverse Nasdaq 100 and Morgan Stanley Global is -0.6 (i.e., Excellent diversification). The correlation of Inverse 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.

Inverse Nasdaq-100 Correlation With Market

Excellent diversification

The correlation between Inverse Nasdaq 100 Strategy and DJI is -0.67 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Inverse Nasdaq 100 Strategy 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 Inverse Nasdaq 100 Strategy. 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 bureau of economic analysis.

Moving together with Inverse Mutual Fund

0.8	RYABX	Government Long Bond	Pair Corr
1.0	RYACX	Inverse Nasdaq 100	Pair Corr
1.0	RYAIX	Inverse Nasdaq 100	Pair Corr
0.87	RYAFX	Inverse Russell 2000	Pair Corr
0.64	RYAEX	Europe 125x Strategy	Pair Corr
0.91	RYAGX	Inverse Mid Cap	Pair Corr
0.98	RYARX	Inverse Sp 500	Pair Corr
1.0	RYAPX	Inverse Nasdaq 100	Pair Corr
0.64	RYCEX	Europe 125x Strategy	Pair Corr
0.81	RYCGX	Government Long Bond	Pair Corr
0.93	RYCDX	Rydex Inverse Nasdaq	Pair Corr

Moving against Inverse Mutual Fund

0.98	RYANX	Nova Fund Class	Pair Corr
0.96	RYAWX	Sp 500 Pure	Pair Corr
0.93	RYATX	Nasdaq 100 Fund	Pair Corr
0.91	RYDHX	Dow Jones Industrial	Pair Corr
0.91	RYDKX	Dow Jones Industrial	Pair Corr
0.9	RYAHX	Mid Cap 15x Steady Growth	Pair Corr
0.9	RYDCX	Mid Cap 15x Steady Growth	Pair Corr
0.89	RYBHX	Sp Midcap 400	Pair Corr
0.86	RYAKX	Russell 2000 15x Steady Growth	Pair Corr
0.83	RYAVX	Sp Midcap 400	Pair Corr
0.79	RYAQX	Inverse Government Long	Pair Corr
0.76	RYBKX	Banking Fund Class	Pair Corr
0.75	RYBAX	Basic Materials	Pair Corr
0.75	RYBMX	Basic Materials	Pair Corr
0.75	RYBIX	Basic Materials	Pair Corr
0.74	RYBCX	Basic Materials	Pair Corr
0.74	RYAZX	Sp Smallcap 600	Pair Corr
0.68	RYEAX	Energy Fund Class	Pair Corr
0.67	RYECX	Energy Fund Class	Pair Corr
0.6	RYAUX	Utilities Fund Class	Pair Corr
1.0	RYCCX	Nasdaq 100 2x	Pair Corr
0.98	RYCHX	Technology Fund Class	Pair Corr
0.98	RYCTX	Sp 500 2x	Pair Corr
0.93	RYCOX	Nasdaq 100 Fund	Pair Corr
0.93	RYCSX	Telecommunications	Pair Corr
0.9	RYCVX	Dow 2x Strategy Steady Growth	Pair Corr
0.89	RYCKX	Sp Midcap 400	Pair Corr
0.87	RYDAX	Dow Jones Industrial	Pair Corr

Related Correlations Analysis

	MGKAX	BXFIX	ANAYX	WWWEX	RPGIX	CNGLX	CABIX	WRLDX
MGKAX		0.34	-0.31	0.6	0.54	0.56	0.28	0.86	MGKAX
BXFIX	0.34		-0.63	0.84	0.51	-0.06	0.02	0.58	BXFIX
ANAYX	-0.31	-0.63		-0.71	-0.24	-0.02	0.41	-0.31	ANAYX
WWWEX	0.6	0.84	-0.71		0.43	0.13	-0.08	0.71	WWWEX
RPGIX	0.54	0.51	-0.24	0.43		0.66	0.69	0.73	RPGIX
CNGLX	0.56	-0.06	-0.02	0.13	0.66		0.53	0.51	CNGLX
CABIX	0.28	0.02	0.41	-0.08	0.69	0.53		0.44	CABIX
WRLDX	0.86	0.58	-0.31	0.71	0.73	0.51	0.44		WRLDX
	MGKAX	BXFIX	ANAYX	WWWEX	RPGIX	CNGLX	CABIX	WRLDX

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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

WRLDX	+ 0.86	MGKAX
WWWEX	+ 0.84	BXFIX
WRLDX	+ 0.73	RPGIX
WRLDX	+ 0.71	WWWEX
CABIX	+ 0.69	RPGIX
CNGLX	+ 0.66	RPGIX

High negative correlations

WWWEX	- 0.71	ANAYX
ANAYX	- 0.63	BXFIX
WRLDX	- 0.31	ANAYX
ANAYX	- 0.31	MGKAX
RPGIX	- 0.24	ANAYX
CABIX	- 0.08	WWWEX

Risk-Adjusted Indicators

There is a big difference between Inverse Mutual Fund performing well and Inverse 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 Inverse 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
MGKAX	0.73	(0.06)	(0.10)	0.02	0.90	(0.69)	1.39	(1.20)	3.63
BXFIX	0.07	0.03	0.00	(0.65)	0.00	0.00	0.12	(0.11)	0.81
ANAYX	0.18	(0.01)	(0.44)	0.36	0.21	(0.26)	0.43	(0.29)	1.01
WWWEX	1.07	0.38	0.32	0.49	0.58	(1.29)	3.15	(1.28)	8.01
RPGIX	0.72	0.05	(0.07)	(1.50)	1.02	(0.70)	1.40	(1.57)	4.64
CNGLX	0.53	0.00	(0.14)	(0.37)	0.78	(0.52)	1.04	(1.18)	3.68
CABIX	0.31	0.00	(0.25)	0.26	0.37	(0.35)	0.57	(0.72)	1.86
WRLDX	0.49	(0.02)	(0.12)	0.08	0.45	(0.56)	0.92	(0.97)	2.75

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