Nationwide International Correlations

Mutual Funds . USA . 
Fund . Nationwide International Index
GIXIX Fund  USD 10.21  0.02  0.20%   
The current 90-days correlation between Nationwide International and Shelton Emerging Markets is 0.77 (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

Poor diversification

The correlation between Nationwide International Index and DJI is 0.75 (i.e., Poor 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 gross domestic product.

Moving together with Nationwide Mutual Fund

  0.86GCFRX Nationwide InvestorPairCorr
  0.95NADCX Nationwide InvestorPairCorr
  0.96NADMX Nationwide InvestorPairCorr
  0.96GGEAX Nationwide Global EquityPairCorr
  0.96GGEIX Nationwide Global EquityPairCorr
  0.94GGFRX Nationwide GrowthPairCorr
  0.96GGESX Nationwide Global EquityPairCorr
  0.96NSDMX Nationwide InvestorPairCorr
  0.94NSDCX Nationwide InvestorPairCorr
  0.97NTDAX Nationwide DestinationPairCorr
  0.97NTDIX Nationwide DestinationPairCorr
  0.97NTDTX Nationwide DestinationPairCorr
  0.97NTDSX Nationwide DestinationPairCorr
  1.0GIIAX Nationwide InternationalPairCorr
  1.0GIIRX Nationwide InternationalPairCorr
  0.86GIMCX Nationwide InvestorPairCorr
  0.9NUSAX Nationwide GovernmentPairCorr
  0.97NDAAX Nationwide InvestorPairCorr
  0.87NDCAX Nationwide InvestorPairCorr
  0.97NDASX Nationwide InvestorPairCorr
  0.86NDCSX Nationwide InvestorPairCorr
  0.96NDMSX Nationwide InvestorPairCorr
  0.96NDMAX Nationwide InvestorPairCorr
  0.63NWAWX Nationwide Gqg QualityPairCorr
  0.64NWAVX Nationwide Gqg QualityPairCorr
  0.97NWATX Nationwide DestinationPairCorr
  0.64NWAYX Nationwide Gqg QualityPairCorr
  0.97NWBIX Nationwide DestinationPairCorr
  0.96NWABX Nationwide Fund6PairCorr
  0.94NWAEX Nationwide Bny MellonPairCorr
  0.94NWADX Nationwide Loomis AllPairCorr
  0.99NWAJX Nationwide AllianzgiPairCorr
  0.99NWAHX Nationwide AllianzgiPairCorr
  0.99NWAGX Nationwide AllianzgiPairCorr
  0.9NWANX Nationwide Bny MellonPairCorr
  0.9NWAMX Nationwide MellonPairCorr
  0.9NWALX Nationwide Bny MellonPairCorr
  0.99NWAKX Nationwide AllianzgiPairCorr

Related Correlations Analysis

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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.

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