Nationwide Correlations

Mutual Funds . USA . 
Fund . Nationwide Sp 500
GRMAX Fund  USD 29.29  0.16  0.55%   
The current 90-days correlation between Nationwide Sp 500 and Nationwide Investor Destinations is 0.01 (i.e., Significant diversification). The correlation of Nationwide 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 Correlation With Market

Good diversification

The correlation between Nationwide Sp 500 and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Sp 500 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 Sp 500. 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 nation.

Moving together with Nationwide Mutual Fund

  0.93GCFRX Nationwide InvestorPairCorr
  0.99NADCX Nationwide InvestorPairCorr
  0.99NADMX Nationwide InvestorPairCorr
  0.98GGEAX Nationwide Global EquityPairCorr
  0.99GGEIX Nationwide Global EquityPairCorr
  1.0GGFRX Nationwide GrowthPairCorr
  0.98GGESX Nationwide Global EquityPairCorr
  1.0NSDMX Nationwide InvestorPairCorr
  0.97NSDCX Nationwide InvestorPairCorr
  1.0NTDAX Nationwide DestinationPairCorr
  0.98NTDIX Nationwide DestinationPairCorr
  0.98NTDTX Nationwide DestinationPairCorr
  0.98NTDSX Nationwide DestinationPairCorr
  0.92GIIAX Nationwide InternationalPairCorr
  0.94GIIRX Nationwide InternationalPairCorr
  0.93GIMCX Nationwide InvestorPairCorr
  0.94GIXIX Nationwide InternationalPairCorr
  0.96NUSAX Nationwide GovernmentPairCorr
  1.0NDAAX Nationwide InvestorPairCorr
  0.92NDCAX Nationwide InvestorPairCorr
  0.98NDASX Nationwide InvestorPairCorr
  0.93NDCSX Nationwide InvestorPairCorr
  0.98NDMSX Nationwide InvestorPairCorr
  1.0NDMAX Nationwide InvestorPairCorr
  0.61NWAVX Nationwide Gqg QualityPairCorr
  0.98NWATX Nationwide DestinationPairCorr
  0.98NWBIX Nationwide DestinationPairCorr
  1.0NWABX Nationwide Fund6PairCorr
  0.98NWAEX Nationwide Bny MellonPairCorr
  1.0NWADX Nationwide Loomis AllPairCorr
  0.95NWAJX Nationwide AllianzgiPairCorr
  0.96NWAHX Nationwide AllianzgiPairCorr
  0.95NWAGX Nationwide AllianzgiPairCorr
  0.97NWANX Nationwide Bny MellonPairCorr
  0.97NWAMX Nationwide MellonPairCorr
  0.99NWALX Nationwide Bny MellonPairCorr
  0.96NWAKX 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 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'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  0.02 (0.26) 0.25  0.00 
(0.28)
 0.51 
(0.31)
 1.46 
NADCX  0.27  0.08 (0.13)(6.69) 0.21 
(0.32)
 0.74 
(0.51)
 1.94 
NADMX  0.35  0.12 (0.03)(4.42) 0.18 
(0.41)
 1.22 
(0.70)
 2.44 
GGEAX  0.62  0.11  0.10  0.27  0.49 
(0.73)
 1.78 
(1.25)
 4.21 
GGEIX  0.62  0.25  0.11 (2.28) 0.51 
(0.72)
 1.78 
(1.28)
 4.24 
GGFRX  0.66  0.23  0.09 (2.96) 0.60 
(0.75)
 2.13 
(1.20)
 5.02 
GGESX  0.62  0.11  0.10  0.27  0.48 
(0.71)
 1.77 
(1.28)
 4.18 
NSDMX  0.36  0.13 (0.02)(4.07) 0.18 
(0.42)
 1.12 
(0.70)
 2.54 
NSDCX  0.28  0.04 (0.11) 0.24  0.18 
(0.34)
 0.74 
(0.52)
 1.92 
NTDAX  0.49  0.20  0.07 (3.32) 0.34 
(0.55)
 1.62 
(1.19)
 3.41 

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