Nasdaq-100(r) Correlations

RYVLX Fund

USD 728.43 10.95 1.53%

The current 90-days correlation between Nasdaq 100 2x and Basic Materials Fund is 0.56 (i.e., Very weak diversification). The correlation of Nasdaq-100(r) 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(r) Correlation With Market

Poor diversification

The correlation between Nasdaq 100 2x Strategy and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq 100 2x 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 Nasdaq 100 2x 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 Nasdaq-100(r) Mutual Fund

1.0	RYCCX	Nasdaq 100 2x Steady Growth	Pair Corr
0.68	RYCMX	Russell 2000 15x Steady Growth	Pair Corr
0.69	RYMKX	Russell 2000 15x Steady Growth	Pair Corr
0.98	RYNCX	Nova Fund Class	Pair Corr
0.66	RYRLX	Russell 2000 2x Steady Growth	Pair Corr
0.66	RYRSX	Russell 2000 2x Steady Growth	Pair Corr
0.73	RYRRX	Russell 2000	Pair Corr
0.96	RYTIX	Technology Fund Investor	Pair Corr
1.0	RYVYX	Nasdaq 100 2x Steady Growth	Pair Corr
1.0	UOPIX	Ultra Nasdaq 100 Steady Growth	Pair Corr
0.99	UOPSX	Ultranasdaq 100 Profund Steady Growth	Pair Corr
1.0	RMQHX	Monthly Rebalance Steady Growth	Pair Corr
1.0	RMQAX	Monthly Rebalance Steady Growth	Pair Corr
1.0	RMQCX	Monthly Rebalance Steady Growth	Pair Corr
1.0	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.77	XDSMX	Dreyfus Strategic	Pair Corr
0.76	XNXJX	Nuveen New Jersey	Pair Corr
0.77	NXJ	Nuveen New Jersey	Pair Corr

Moving against Nasdaq-100(r) Mutual Fund

0.99	RYCDX	Rydex Inverse Nasdaq	Pair Corr
0.99	RYVNX	Inverse Nasdaq-100(r)	Pair Corr
0.98	RYCBX	Inverse Sp 500	Pair Corr
0.85	RYWWX	Inverse Emerging Markets	Pair Corr
0.78	RYIUX	Inverse Russell 2000	Pair Corr
0.58	RYAQX	Inverse Government Long	Pair Corr
0.5	RYLCX	Leisure Fund Class	Pair Corr
0.41	RYILX	Rydex Sers Fds	Pair Corr
0.4	RYIHX	Inverse High Yield	Pair Corr
0.99	RYVTX	Inverse Nasdaq-100(r)	Pair Corr
0.49	RYWDX	Weakening Dollar	Pair Corr

Related Correlations Analysis

	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYACX
RYBCX		1.0	0.02	1.0	0.36	1.0	0.1	0.43	-0.28	RYBCX
RYBAX	1.0		0.01	1.0	0.36	1.0	0.12	0.44	-0.3	RYBAX
RYBKX	0.02	0.01		0.01	0.44	0.0	-0.36	-0.5	0.23	RYBKX
RYBMX	1.0	1.0	0.01		0.37	1.0	0.12	0.44	-0.3	RYBMX
RYBHX	0.36	0.36	0.44	0.37		0.37	0.3	0.33	-0.61	RYBHX
RYBIX	1.0	1.0	0.0	1.0	0.37		0.13	0.44	-0.31	RYBIX
RYBOX	0.1	0.12	-0.36	0.12	0.3	0.13		0.5	-0.62	RYBOX
RYABX	0.43	0.44	-0.5	0.44	0.33	0.44	0.5		-0.67	RYABX
RYACX	-0.28	-0.3	0.23	-0.3	-0.61	-0.31	-0.62	-0.67		RYACX
	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYACX

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

RYBAX	+ 1.0	RYBCX
RYBMX	+ 1.0	RYBCX
RYBIX	+ 1.0	RYBCX
RYBMX	+ 1.0	RYBAX
RYBIX	+ 1.0	RYBAX
RYBIX	+ 1.0	RYBMX

High negative correlations

RYACX	- 0.67	RYABX
RYACX	- 0.62	RYBOX
RYACX	- 0.61	RYBHX
RYABX	- 0.5	RYBKX
RYBOX	- 0.36	RYBKX
RYACX	- 0.31	RYBIX

Risk-Adjusted Indicators

There is a big difference between Nasdaq-100(r) Mutual Fund performing well and Nasdaq-100(r) 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(r)'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
RYBCX	1.01	0.04	0.03	0.10	1.20	(1.04)	2.07	(2.00)	5.70
RYBAX	1.01	0.04	0.04	0.10	1.20	(1.01)	2.06	(2.01)	5.72
RYBKX	0.77	(0.06)	(0.04)	0.01	1.20	(0.84)	1.97	(1.60)	6.50
RYBMX	1.01	0.04	0.04	0.10	1.20	(1.01)	2.07	(2.00)	5.69
RYBHX	0.77	(0.02)	(0.01)	0.05	0.88	(0.86)	1.85	(1.37)	4.56
RYBIX	1.01	0.05	0.04	0.11	1.19	(1.02)	2.08	(2.00)	5.70
RYBOX	0.86	0.27	0.28	0.42	0.55	(1.01)	2.20	(1.44)	4.40
RYABX	0.55	0.08	0.02	(1.96)	0.51	(0.63)	1.28	(0.97)	3.17
RYACX	0.80	(0.04)	0.00	0.10	0.00	0.00	2.07	(1.80)	6.15

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