Nasdaq 100 Correlations

OTPIX Fund

USD 52.42 0.78 1.51%

The current 90-days correlation between Nasdaq 100 Profund and Jacob Internet Fund is 0.72 (i.e., Poor diversification). The correlation of 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.

Nasdaq 100 Correlation With Market

Poor diversification

The correlation between Nasdaq 100 Profund Nasdaq 100 and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq 100 Profund Nasdaq 100 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 Profund Nasdaq 100. 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 gross domestic product.

Moving together with Nasdaq Mutual Fund

0.93	TEPIX	Technology Ultrasector	Pair Corr
0.93	TEPSX	Technology Ultrasector	Pair Corr
0.82	LGPIX	Large Cap Growth	Pair Corr
0.82	LGPSX	Profunds Large Cap	Pair Corr
0.79	UJPIX	Ultrajapan Profund	Pair Corr
1.0	OTPSX	Nasdaq 100 Profund	Pair Corr
0.79	UJPSX	Ultrajapan Profund	Pair Corr
0.96	ULPIX	Ultrabull Profund	Pair Corr
0.96	ULPSX	Ultrabull Profund	Pair Corr
0.72	OEPSX	Oil Equipment Services	Pair Corr
0.71	OEPIX	Oil Equipment Services	Pair Corr

Moving against Nasdaq Mutual Fund

0.96	BRPSX	Bear Profund Bear	Pair Corr
0.81	BRPIX	Bear Profund Bear Steady Growth	Pair Corr
0.69	UKPSX	Ultrashort Japan Profund Steady Growth	Pair Corr
0.69	UKPIX	Ultrashort Japan Profund Steady Growth	Pair Corr
0.44	UIPIX	Ultrashort Mid Cap Steady Growth	Pair Corr
0.39	UIPSX	Ultrashort Mid Cap Steady Growth	Pair Corr
0.38	FDPSX	Falling Dollar Profund	Pair Corr

Related Correlations Analysis

	JAMFX	ARDEX	GILCX	SHXPX	IJUN	JASCX	SFDYX	SIPIX	SEMCX	TTDAX
JAMFX		0.1	-0.36	0.39	0.04	0.23	0.21	0.2	0.21	-0.09	JAMFX
ARDEX	0.1		-0.03	-0.03	-0.05	-0.01	0.63	0.64	0.63	0.07	ARDEX
GILCX	-0.36	-0.03		0.55	0.85	0.45	0.26	0.25	0.25	0.9	GILCX
SHXPX	0.39	-0.03	0.55		0.71	0.87	0.35	0.34	0.34	0.64	SHXPX
IJUN	0.04	-0.05	0.85	0.71		0.6	0.33	0.33	0.33	0.85	IJUN
JASCX	0.23	-0.01	0.45	0.87	0.6		0.33	0.33	0.33	0.48	JASCX
SFDYX	0.21	0.63	0.26	0.35	0.33	0.33		1.0	1.0	0.43	SFDYX
SIPIX	0.2	0.64	0.25	0.34	0.33	0.33	1.0		1.0	0.42	SIPIX
SEMCX	0.21	0.63	0.25	0.34	0.33	0.33	1.0	1.0		0.42	SEMCX
TTDAX	-0.09	0.07	0.9	0.64	0.85	0.48	0.43	0.42	0.42		TTDAX
	JAMFX	ARDEX	GILCX	SHXPX	IJUN	JASCX	SFDYX	SIPIX	SEMCX	TTDAX

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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

SIPIX	+ 1.0	SFDYX
SEMCX	+ 1.0	SFDYX
SEMCX	+ 1.0	SIPIX
TTDAX	+ 0.9	GILCX
JASCX	+ 0.87	SHXPX
IJUN	+ 0.85	GILCX

High negative correlations

GILCX	- 0.36	JAMFX
TTDAX	- 0.09	JAMFX
IJUN	- 0.05	ARDEX
SHXPX	- 0.03	ARDEX
GILCX	- 0.03	ARDEX
JASCX	- 0.01	ARDEX

Risk-Adjusted Indicators

There is a big difference between Nasdaq Mutual Fund performing well and 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 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
JAMFX	1.56	(0.27)	0.00	(0.09)	0.00	0.00	2.75	(3.66)	8.46
ARDEX	0.85	(0.34)	0.00	(0.26)	0.00	0.00	0.97	(1.14)	22.20
GILCX	0.50	0.01	0.00	0.08	0.60	(0.50)	0.96	(0.99)	2.94
SHXPX	0.75	(0.04)	(0.03)	0.03	0.95	(0.77)	1.83	(1.32)	4.22
IJUN	0.32	(0.02)	(0.12)	0.02	0.40	(0.32)	0.60	(0.67)	1.47
JASCX	0.71	(0.03)	(0.03)	0.03	0.83	(0.78)	1.80	(1.38)	4.54
SFDYX	0.98	(0.33)	0.00	(0.19)	0.00	0.00	1.37	(1.62)	3.63
SIPIX	0.99	(0.33)	0.00	(0.19)	0.00	0.00	1.40	(1.63)	3.67
SEMCX	0.99	(0.33)	0.00	(0.19)	0.00	0.00	1.37	(1.62)	3.66
TTDAX	0.52	(0.04)	(0.05)	0.02	0.85	(0.49)	1.25	(1.38)	3.51

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