Nationwide International Correlations

Mutual Funds . USA . 
Fund . Nationwide International Index
GIIRX Fund  USD 9.97  0.03  0.30%   
The current 90-days correlation between Nationwide International and Nationwide Investor Destinations is 0.63 (i.e., Poor diversification). The correlation of Nationwide International 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 International Correlation With Market

Very weak diversification

The correlation between Nationwide International Index and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide International Index 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 International Index. 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 metropolitan statistical area.

Moving together with Nationwide Mutual Fund

  0.91GCFRX Nationwide InvestorPairCorr
  0.95NADCX Nationwide InvestorPairCorr
  0.96NADMX Nationwide InvestorPairCorr
  0.97GGEAX Nationwide Global EquityPairCorr
  0.95GGEIX Nationwide Global EquityPairCorr
  0.93GGFRX Nationwide GrowthPairCorr
  0.97GGESX Nationwide Global EquityPairCorr
  0.95NSDMX Nationwide InvestorPairCorr
  0.94NSDCX Nationwide InvestorPairCorr
  0.96NTDAX Nationwide DestinationPairCorr
  0.97NTDIX Nationwide DestinationPairCorr
  0.97NTDTX Nationwide DestinationPairCorr
  0.97NTDSX Nationwide DestinationPairCorr
  0.99GIIAX Nationwide InternationalPairCorr
  0.91GIMCX Nationwide InvestorPairCorr
  1.0GIXIX Nationwide InternationalPairCorr
  0.91NUSAX Nationwide GovernmentPairCorr
  0.96NDAAX Nationwide InvestorPairCorr
  0.93NDCAX Nationwide InvestorPairCorr
  0.97NDASX Nationwide InvestorPairCorr
  0.91NDCSX Nationwide InvestorPairCorr
  0.95NDMSX Nationwide InvestorPairCorr
  0.96NDMAX Nationwide InvestorPairCorr
  0.69NWAWX Nationwide Gqg QualityPairCorr
  0.72NWAVX Nationwide Gqg QualityPairCorr
  0.63NWAUX Nationwide Gqg QualityPairCorr
  0.97NWATX Nationwide DestinationPairCorr
  0.71NWAYX Nationwide Gqg QualityPairCorr
  0.96NWBIX Nationwide DestinationPairCorr
  0.96NWABX Nationwide Fund6PairCorr
  0.93NWAEX Nationwide Bny MellonPairCorr
  0.95NWADX Nationwide Loomis AllPairCorr
  0.99NWAJX Nationwide AllianzgiPairCorr
  0.98NWAHX Nationwide AllianzgiPairCorr
  0.99NWAGX Nationwide AllianzgiPairCorr
  0.93NWANX Nationwide Bny MellonPairCorr
  0.93NWAMX Nationwide MellonPairCorr
  0.92NWALX Nationwide Bny MellonPairCorr
  0.99NWAKX Nationwide AllianzgiPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide International 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 International'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GCFRX  0.20  0.02 (0.25) 0.24  0.00 
(0.27)
 0.51 
(0.31)
 1.46 
NADCX  0.28  0.09 (0.09)(4.95) 0.18 
(0.34)
 0.77 
(0.51)
 1.94 
NADMX  0.36  0.13  0.00 (3.90) 0.16 
(0.42)
 1.22 
(0.70)
 2.44 
GGEAX  0.61  0.13  0.11  0.29  0.50 
(0.72)
 1.78 
(1.25)
 4.21 
GGEIX  0.62  0.26  0.13 (2.28) 0.48 
(0.73)
 1.78 
(1.28)
 4.24 
GGFRX  0.67  0.24  0.10 (2.90) 0.60 
(0.75)
 2.13 
(1.20)
 5.02 
GGESX  0.62  0.12  0.12  0.28  0.49 
(0.70)
 1.77 
(1.28)
 4.18 
NSDMX  0.37  0.14  0.01 (3.67) 0.16 
(0.43)
 1.12 
(0.70)
 2.54 
NSDCX  0.28  0.10 (0.08)(2.20) 0.04 
(0.35)
 0.74 
(0.52)
 1.92 
NTDAX  0.50  0.22  0.10 (3.15) 0.30 
(0.56)
 1.62 
(1.19)
 3.41 

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