Nationwide Fund Correlations

Mutual Funds . USA . 
Fund . Nationwide Fund Class
GNWRX Fund  USD 32.36  0.05  0.15%   
The current 90-days correlation between Nationwide Fund Class and Nationwide Investor Destinations is 0.02 (i.e., Significant diversification). The correlation of Nationwide Fund 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 Fund Correlation With Market

Average diversification

The correlation between Nationwide Fund Class and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Fund Class 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 Fund Class. 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

  0.93GCFRX Nationwide InvestorPairCorr
  0.98NADMX Nationwide InvestorPairCorr
  0.98GGFRX Nationwide GrowthPairCorr
  0.96GGESX Nationwide Global EquityPairCorr
  0.98NTDAX Nationwide DestinationPairCorr
  0.97NTDSX Nationwide DestinationPairCorr
  0.61GIIAX Nationwide InternationalPairCorr
  0.94GIIRX Nationwide InternationalPairCorr
  0.93GIMCX Nationwide InvestorPairCorr
  0.95GIXIX Nationwide InternationalPairCorr
  1.0NDAAX Nationwide InvestorPairCorr
  0.93NDCAX Nationwide InvestorPairCorr
  0.98NDASX Nationwide InvestorPairCorr
  0.93NDCSX Nationwide InvestorPairCorr
  0.98NDMSX Nationwide InvestorPairCorr
  1.0NDMAX Nationwide InvestorPairCorr
  0.98NWATX Nationwide DestinationPairCorr
  0.98NWBIX Nationwide DestinationPairCorr
  1.0NWABX Nationwide Fund6PairCorr
  0.98NWAEX Nationwide Bny MellonPairCorr
  0.99NWADX Nationwide Loomis AllPairCorr
  0.95NWAJX Nationwide AllianzgiPairCorr
  0.96NWAHX Nationwide AllianzgiPairCorr
  0.95NWAGX Nationwide AllianzgiPairCorr
  0.97NWANX Nationwide Bny MellonPairCorr
  0.97NWAMX Nationwide MellonPairCorr
  0.96NWAKX Nationwide AllianzgiPairCorr
  0.97NWASX Nationwide DestinationPairCorr

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 Fund 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 Fund'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  0.21  0.05 (0.36)(15.54) 0.00 
(0.28)
 0.51 
(0.31)
 1.46 
NADCX  0.24  0.02 (0.26) 0.27  0.18 
(0.27)
 0.52 
(0.51)
 1.69 
NADMX  0.36  0.12 (0.08)(4.17) 0.19 
(0.41)
 1.22 
(0.70)
 2.44 
GGEAX  0.51  0.11  0.04  0.38  0.35 
(0.61)
 1.53 
(0.94)
 4.08 
GGEIX  0.51  0.11  0.04  0.37  0.34 
(0.61)
 1.50 
(0.94)
 4.11 
GGFRX  0.66  0.24  0.06 (2.41) 0.59 
(0.74)
 2.13 
(1.20)
 5.02 
GGESX  0.59  0.11  0.09  0.30  0.41 
(0.70)
 1.77 
(1.12)
 4.18 
NSDMX  0.30  0.05 (0.13) 0.31  0.11 
(0.36)
 0.77 
(0.55)
 2.47 
NSDCX  0.24  0.04 (0.21) 0.34  0.10 
(0.30)
 0.43 
(0.51)
 1.77 
NTDAX  0.49  0.20  0.03 (3.05) 0.35 
(0.55)
 1.62 
(1.19)
 3.41 

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