Nationwide Global Correlations

Mutual Funds . USA . 
Fund . Nationwide Global Equity
GGESX Fund  USD 26.90  0.30  1.13%   
The current 90-days correlation between Nationwide Global Equity and Lord Abbett Diversified is -0.24 (i.e., Very 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

Good diversification

The correlation between Nationwide Global Equity and DJI is -0.17 (i.e., Good 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 main economic indicators.

Moving together with Nationwide Mutual Fund

  0.94GCFRX Nationwide InvestorPairCorr
  0.98NADCX Nationwide InvestorPairCorr
  0.99NADMX Nationwide InvestorPairCorr
  1.0GGEAX Nationwide Global EquityPairCorr
  0.97GGEIX Nationwide Global EquityPairCorr
  0.94GGFRX Nationwide GrowthPairCorr
  0.95NSDMX Nationwide InvestorPairCorr
  0.95NSDCX Nationwide InvestorPairCorr
  0.99NTDAX Nationwide DestinationPairCorr
  0.94NTDIX Nationwide DestinationPairCorr
  0.94NTDTX Nationwide DestinationPairCorr
  0.94NTDSX Nationwide DestinationPairCorr
  0.91GIIAX Nationwide InternationalPairCorr
  0.85GIIRX Nationwide InternationalPairCorr
  0.94GIMCX Nationwide InvestorPairCorr
  0.85GIXIX Nationwide InternationalPairCorr
  0.94NUSAX Nationwide GovernmentPairCorr
  0.99NDAAX Nationwide InvestorPairCorr
  0.97NDCAX Nationwide InvestorPairCorr
  0.94NDASX Nationwide InvestorPairCorr
  0.94NDCSX Nationwide InvestorPairCorr
  0.99NDMSX Nationwide InvestorPairCorr
  0.99NDMAX Nationwide InvestorPairCorr
  0.99NWATX Nationwide DestinationPairCorr
  0.95NWBIX Nationwide DestinationPairCorr
  0.98NWABX Nationwide Fund6PairCorr
  0.94NWAEX Nationwide Bny MellonPairCorr
  0.93NWADX Nationwide Loomis AllPairCorr
  0.91NWANX Nationwide Bny MellonPairCorr
  0.91NWAMX Nationwide MellonPairCorr
  0.88NWALX Nationwide Bny MellonPairCorr

Related Correlations Analysis


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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