Nasdaq-100 Index Correlations

Mutual Funds . USA . 
Fund . Nasdaq 100 Index Fund
NDXKX Fund  USD 41.87  0.04  0.1%   
The current 90-days correlation between Nasdaq 100 Index and Nasdaq 100 Index Fund is 1.0 (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

Poor diversification

The correlation between Nasdaq 100 Index Fund and DJI is 0.69 (i.e., Poor 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 inflation.

Moving together with Nasdaq-100 Mutual Fund

  0.94EMSLX Shelton Emerging MarketsPairCorr
  0.93EMSQX Shelton Emerging MarketsPairCorr
  1.0NQQQX Shelton FundsPairCorr
  1.0NASDX Nasdaq 100 IndexPairCorr
  0.93EQTKX Shelton E ValuePairCorr
  0.93EQTIX Shelton E ValuePairCorr
  0.87NEXIX Shelton Green AlphaPairCorr
  0.86NEXTX Shelton Green AlphaPairCorr
  0.88SISEX Shelton InternationalPairCorr
  0.88SISLX Shelton InternationalPairCorr
  0.85SMCIX Sp Smallcap IndexPairCorr
  0.84SMLKX Sp Smallcap IndexPairCorr
  0.91DEBTX Shelton Tactical CreditPairCorr
  0.67CAUKX Us Government SecuritiesPairCorr
  0.68CAUSX Us Government SecuritiesPairCorr
  0.99SPFIX Sp 500 IndexPairCorr
  0.87SPMIX Sp Midcap IndexPairCorr
  0.87MIDKX Sp Midcap IndexPairCorr
  0.99SPXKX Sp 500 IndexPairCorr
  0.98FAFGX American FundsPairCorr
  0.98FFAFX American FundsPairCorr
  0.98GFACX Growth FundPairCorr
  0.98GFAFX Growth FundPairCorr
  0.98AGTHX Growth FundPairCorr
  0.98CGFFX Growth FundPairCorr
  0.98CGFCX Growth FundPairCorr
  0.98CGFAX Growth FundPairCorr
  0.98CGFEX Growth FundPairCorr
  0.98RGAEX Growth FundPairCorr
  0.99VFIAX Vanguard 500 IndexPairCorr
  0.89OIEQX Jpmorgan Equity IncomePairCorr
  0.95PFSMX Riskproreg Pfg 30PairCorr
  0.97TEDMX Templeton DevelopingPairCorr
  0.92GSCDX Goldman Sachs EmergingPairCorr
  0.79OGGYX Jpmorgan Government BondPairCorr
  0.94UBQAFX UbqafxPairCorr
  0.97FFOLX Fidelity Freedom IndexPairCorr

Related Correlations Analysis


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.

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