Nasdaq-100 Fund Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Fund Class
RYATX Fund  USD 77.89  0.44  0.57%   
The current 90-days correlation between Nasdaq 100 Fund and Nasdaq 100 Fund Class is 1.0 (i.e., No risk reduction). 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

Good diversification

The correlation between Nasdaq 100 Fund Class and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq 100 Fund Class 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 Class. 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 estimate.

Moving together with Nasdaq-100 Mutual Fund

  0.67RYBCX Basic MaterialsPairCorr
  0.68RYBAX Basic MaterialsPairCorr
  0.83RYBKX Banking Fund ClassPairCorr
  0.68RYBMX Basic MaterialsPairCorr
  0.85RYBHX Sp Midcap 400PairCorr
  0.68RYBIX Basic MaterialsPairCorr
  0.84RYAKX Russell 2000 15x Steady GrowthPairCorr
  0.88RYAHX Mid Cap 15x Steady GrowthPairCorr
  0.84RYAQX Inverse Government LongPairCorr
  0.61RYAUX Utilities Fund ClassPairCorr
  0.94RYANX Nova Fund ClassPairCorr
  0.8RYAZX Sp Smallcap 600PairCorr
  0.94RYAWX Sp 500 PurePairCorr
  0.9RYAVX Sp Midcap 400PairCorr
  0.89RYDHX Dow Jones IndustrialPairCorr
  0.88RYDCX Mid Cap 15x Steady GrowthPairCorr
  0.89RYDKX Dow Jones IndustrialPairCorr
  0.67RYEAX Energy Fund ClassPairCorr
  0.66RYECX Energy Fund ClassPairCorr
  0.94RYCHX Technology Fund ClassPairCorr
  0.93RYCCX Nasdaq 100 2xPairCorr
  0.9RYCNX Transportation Fund ClassPairCorr
  0.83RYCMX Russell 2000 15x Steady GrowthPairCorr

Moving against Nasdaq-100 Mutual Fund

  0.93RYACX Inverse Nasdaq 100PairCorr
  0.93RYAIX Inverse Nasdaq 100PairCorr
  0.93RYALX Inverse Nasdaq 100PairCorr
  0.93RYARX Inverse Sp 500PairCorr
  0.88RYAGX Inverse Mid CapPairCorr
  0.84RYAFX Inverse Russell 2000PairCorr
  0.83RYABX Government Long BondPairCorr
  0.71RYAEX Europe 125x StrategyPairCorr
  0.42RYBOX Biotechnology Fund Class Steady GrowthPairCorr
  0.93RYAPX Inverse Nasdaq 100PairCorr
  0.84RYCGX Government Long BondPairCorr
  0.71RYCEX Europe 125x StrategyPairCorr
  0.43RYCFX Biotechnology Fund ClassPairCorr
  1.0RYCDX Rydex Inverse NasdaqPairCorr
  0.99RYCBX Inverse Sp 500PairCorr
  0.89RYCWX Inverse Dow 2xPairCorr
  0.88RYCLX Inverse Mid CapPairCorr
  0.84RYCQX Inverse Russell 2000PairCorr
  0.58RYCPX Consumer ProductsPairCorr

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 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.

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