Nationwide Investor Correlations

Mutual Funds . USA . 
Fund . Nationwide Investor Destinations
NDCAX Fund  USD 9.89  0.02  0.20%   
The current 90-days correlation between Nationwide Investor and Nationwide Investor Destinations is 0.07 (i.e., Significant diversification). The correlation of Nationwide Investor 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 Investor Correlation With Market

Good diversification

The correlation between Nationwide Investor Destinatio and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Investor Destinatio and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nationwide Investor Destinations. 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

  0.95GCFRX Nationwide InvestorPairCorr
  0.98NADCX Nationwide InvestorPairCorr
  0.97NADMX Nationwide InvestorPairCorr
  0.94GGEAX Nationwide Global EquityPairCorr
  0.95GGEIX Nationwide Global EquityPairCorr
  0.95GGFRX Nationwide GrowthPairCorr
  0.94GGESX Nationwide Global EquityPairCorr
  0.97NSDMX Nationwide InvestorPairCorr
  0.98NSDCX Nationwide InvestorPairCorr
  0.96NTDAX Nationwide DestinationPairCorr
  0.94NTDIX Nationwide DestinationPairCorr
  0.94NTDTX Nationwide DestinationPairCorr
  0.94NTDSX Nationwide DestinationPairCorr
  0.9GIIAX Nationwide InternationalPairCorr
  0.93GIIRX Nationwide InternationalPairCorr
  0.95GIMCX Nationwide InvestorPairCorr
  0.93GIXIX Nationwide InternationalPairCorr
  0.91NUSAX Nationwide GovernmentPairCorr
  0.95NDAAX Nationwide InvestorPairCorr
  0.94NDASX Nationwide InvestorPairCorr
  0.95NDCSX Nationwide InvestorPairCorr
  0.96NDMSX Nationwide InvestorPairCorr
  0.96NDMAX Nationwide InvestorPairCorr
  0.65NWAWX Nationwide Gqg QualityPairCorr
  0.94NWATX Nationwide DestinationPairCorr
  0.73NWAYX Nationwide Gqg QualityPairCorr
  0.97NWBIX Nationwide DestinationPairCorr
  0.94NWABX Nationwide Fund6PairCorr
  0.95NWAEX Nationwide Bny MellonPairCorr
  0.94NWADX Nationwide Loomis AllPairCorr
  0.91NWAJX Nationwide AllianzgiPairCorr
  0.92NWAHX Nationwide AllianzgiPairCorr
  0.91NWAGX Nationwide AllianzgiPairCorr
  0.93NWANX Nationwide Bny MellonPairCorr
  0.94NWAMX Nationwide MellonPairCorr
  0.95NWALX Nationwide Bny MellonPairCorr
  0.91NWAKX Nationwide AllianzgiPairCorr
  0.94NWASX 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 Investor 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 Investor'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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