Nationwide Global Correlations

Mutual Funds . USA . 
Fund . Nationwide Global Equity
GGEAX Fund  USD 23.49  0.05  0.21%   
The current 90-days correlation between Nationwide Global Equity and Great West Goldman Sachs is -0.03 (i.e., Good diversification). The correlation of Nationwide Global 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.

Nationwide Global Correlation With Market

Significant diversification

The correlation between Nationwide Global Equity and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Global Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Nationwide Global Equity. 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 nation.

Moving together with Nationwide Mutual Fund

  0.91GCFRX Nationwide InvestorPairCorr
  0.98NADCX Nationwide InvestorPairCorr
  0.99NADMX Nationwide InvestorPairCorr
  1.0GGEIX Nationwide Global EquityPairCorr
  0.99GGFRX Nationwide GrowthPairCorr
  1.0GGESX Nationwide Global EquityPairCorr
  0.99NSDMX Nationwide InvestorPairCorr
  0.98NSDCX Nationwide InvestorPairCorr
  1.0NTDAX Nationwide DestinationPairCorr
  1.0NTDIX Nationwide DestinationPairCorr
  1.0NTDTX Nationwide DestinationPairCorr
  1.0NTDSX Nationwide DestinationPairCorr
  0.94GIIAX Nationwide InternationalPairCorr
  0.96GIIRX Nationwide InternationalPairCorr
  0.91GIMCX Nationwide InvestorPairCorr
  0.96GIXIX Nationwide InternationalPairCorr
  0.84NUSAX Nationwide GovernmentPairCorr
  0.99NDAAX Nationwide InvestorPairCorr
  0.9NDCAX Nationwide InvestorPairCorr
  0.91NDCSX Nationwide InvestorPairCorr
  0.99NDMSX Nationwide InvestorPairCorr
  0.87NDMAX Nationwide InvestorPairCorr
  0.66NWAWX Nationwide Gqg QualityPairCorr
  0.67NWAVX Nationwide Gqg QualityPairCorr
  1.0NWATX Nationwide DestinationPairCorr
  0.66NWAYX Nationwide Gqg QualityPairCorr
  0.99NWBIX Nationwide DestinationPairCorr
  0.99NWABX Nationwide Fund6PairCorr
  0.99NWAEX Nationwide Bny MellonPairCorr
  0.99NWADX Nationwide Loomis AllPairCorr
  0.98NWAJX Nationwide AllianzgiPairCorr
  0.98NWAHX Nationwide AllianzgiPairCorr
  0.98NWAGX Nationwide AllianzgiPairCorr
  0.97NWANX Nationwide Bny MellonPairCorr
  0.97NWAMX Nationwide MellonPairCorr
  0.97NWALX Nationwide Bny MellonPairCorr
  0.98NWAKX Nationwide AllianzgiPairCorr
  1.0NWASX Nationwide DestinationPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Global 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 Nationwide Global'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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