Nasdaq-100 Index Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Index Fund
NASDX Fund  USD 41.82  0.17  0.41%   
The current 90-days correlation between Nasdaq 100 Index and Nasdaq 100 Index Fund is 0.99 (i.e., No risk reduction). 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

Almost no diversification

The correlation between Nasdaq 100 Index Fund and DJI is 0.95 (i.e., Almost no 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 Correlation Analysis 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 unemployment.

Moving together with Nasdaq-100 Mutual Fund

  0.96EMSLX Shelton Emerging MarketsPairCorr
  0.96EMSQX Shelton Emerging MarketsPairCorr
  0.96NQQQX Shelton FundsPairCorr
  0.98EQTKX Shelton E ValuePairCorr
  0.98EQTIX Shelton E ValuePairCorr
  1.0NDXKX Nasdaq 100 IndexPairCorr
  0.99NEXIX Shelton Green AlphaPairCorr
  0.99NEXTX Shelton Green AlphaPairCorr
  0.97SISEX Shelton InternationalPairCorr
  0.97SISLX Shelton InternationalPairCorr
  0.91SMCIX Sp Smallcap IndexPairCorr
  0.82SMLKX Sp Smallcap IndexPairCorr
  0.88DEBTX Shelton Tactical CreditPairCorr
  0.89DEBIX Shelton Tactical CreditPairCorr
  0.99SPFIX Sp 500 IndexPairCorr
  0.88SPMIX Sp Midcap IndexPairCorr
  0.94MIDKX Sp Midcap IndexPairCorr
  0.93SPXKX Sp 500 IndexPairCorr
  1.0FAFGX American FundsPairCorr
  1.0FFAFX American FundsPairCorr
  1.0GFACX Growth FundPairCorr
  0.96GFAFX Growth FundPairCorr
  0.96AGTHX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  0.96CGFCX Growth FundPairCorr
  0.96CGFAX Growth FundPairCorr
  0.96CGFEX Growth FundPairCorr
  1.0RGAEX Growth FundPairCorr
  0.93VSTSX Vanguard Total StockPairCorr
  0.93VSMPX Vanguard Total StockPairCorr
  0.99VITSX Vanguard Total StockPairCorr
  0.93VFFSX Vanguard 500 IndexPairCorr
  0.99VFIAX Vanguard 500 IndexPairCorr
  0.92VTISX Vanguard Total InterPairCorr
  0.92VTSNX Vanguard Total InterPairCorr
  0.96VTPSX Vanguard Total InterPairCorr

Moving against Nasdaq-100 Mutual Fund

  0.47CAUKX Us Government SecuritiesPairCorr
  0.42CAUSX Us Government SecuritiesPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY