Nationwide Global Correlations

Mutual Funds . USA . 
Fund . Nationwide Global Equity
GGESX Fund  USD 24.90  0.18  0.73%   
The current 90-days correlation between Nationwide Global Equity and Cornerstone Moderately Aggressive is -0.29 (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

Very good diversification

The correlation between Nationwide Global Equity and DJI is -0.21 (i.e., Very 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 state.

Moving together with Nationwide Mutual Fund

  0.95GCFRX Nationwide InvestorPairCorr
  0.99NADCX Nationwide InvestorPairCorr
  0.99NADMX Nationwide InvestorPairCorr
  1.0GGEAX Nationwide Global EquityPairCorr
  0.84GGEIX Nationwide Global EquityPairCorr
  0.99GGFRX Nationwide GrowthPairCorr
  0.99NSDMX Nationwide InvestorPairCorr
  0.99NSDCX Nationwide InvestorPairCorr
  0.85NTDAX Nationwide DestinationPairCorr
  0.85NTDIX Nationwide DestinationPairCorr
  0.85NTDTX Nationwide DestinationPairCorr
  0.85NTDSX Nationwide DestinationPairCorr
  0.77GIIAX Nationwide InternationalPairCorr
  0.96GIIRX Nationwide InternationalPairCorr
  0.95GIMCX Nationwide InvestorPairCorr
  0.78GIXIX Nationwide InternationalPairCorr
  0.95NUSAX Nationwide GovernmentPairCorr
  0.85NDAAX Nationwide InvestorPairCorr
  0.87NDCAX Nationwide InvestorPairCorr
  0.86NDASX Nationwide InvestorPairCorr
  0.95NDCSX Nationwide InvestorPairCorr
  1.0NDMSX Nationwide InvestorPairCorr
  1.0NDMAX Nationwide InvestorPairCorr
  0.81NWAWX Nationwide Gqg QualityPairCorr
  0.78NWAUX Nationwide Gqg QualityPairCorr
  0.85NWATX Nationwide DestinationPairCorr
  0.82NWAYX Nationwide Gqg QualityPairCorr
  1.0NWBIX Nationwide DestinationPairCorr
  0.99NWABX Nationwide Fund6PairCorr
  0.99NWAEX Nationwide Bny MellonPairCorr
  0.99NWADX Nationwide Loomis AllPairCorr
  0.84NWAHX Nationwide AllianzgiPairCorr
  0.84NWAGX Nationwide AllianzgiPairCorr
  0.91NWANX Nationwide Bny MellonPairCorr
  0.99NWAMX Nationwide MellonPairCorr
  0.91NWALX Nationwide Bny MellonPairCorr
  0.98NWAKX Nationwide AllianzgiPairCorr
  1.0NWASX Nationwide DestinationPairCorr
  0.85NWARX 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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