Nationwide Allianzgi Correlations

Mutual Funds . USA . 
Fund . Nationwide Allianzgi International
NWAHX Fund  USD 22.49  0.06  0.27%   
The current 90-days correlation between Nationwide Allianzgi and Nationwide Investor Destinations is -0.14 (i.e., Good diversification). The correlation of Nationwide Allianzgi 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 Allianzgi Correlation With Market

Average diversification

The correlation between Nationwide Allianzgi Internati and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Allianzgi Internati 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 Allianzgi International. 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 rate.

Moving together with Nationwide Mutual Fund

  0.88GCFRX Nationwide InvestorPairCorr
  0.94NADCX Nationwide InvestorPairCorr
  0.96NADMX Nationwide InvestorPairCorr
  0.97GGEAX Nationwide Global EquityPairCorr
  0.97GGEIX Nationwide Global EquityPairCorr
  0.95GGFRX Nationwide GrowthPairCorr
  0.97GGESX Nationwide Global EquityPairCorr
  0.96NSDMX Nationwide InvestorPairCorr
  0.93NSDCX Nationwide InvestorPairCorr
  0.97NTDAX Nationwide DestinationPairCorr
  0.96NTDIX Nationwide DestinationPairCorr
  0.96NTDSX Nationwide DestinationPairCorr
  0.96GIIAX Nationwide InternationalPairCorr
  0.98GIIRX Nationwide InternationalPairCorr
  0.91NUSAX Nationwide GovernmentPairCorr
  0.97NDAAX Nationwide InvestorPairCorr
  0.89NDCAX Nationwide InvestorPairCorr
  0.96NDASX Nationwide InvestorPairCorr
  0.88NDCSX Nationwide InvestorPairCorr
  0.97NDMAX Nationwide InvestorPairCorr
  0.61NWAWX Nationwide Gqg QualityPairCorr
  0.95NWAEX Nationwide Bny MellonPairCorr
  0.97NWADX Nationwide Loomis AllPairCorr
  0.99NWAJX Nationwide AllianzgiPairCorr
  0.93NWALX Nationwide Bny MellonPairCorr
  1.0NWAKX Nationwide AllianzgiPairCorr
  0.96NWASX Nationwide DestinationPairCorr
  0.97NWARX Nationwide DestinationPairCorr
  0.93NWAPX Nationwide Bny MellonPairCorr
  0.92NWAOX Nationwide Bny MellonPairCorr
  0.69NWCIX Nationwide E PlusPairCorr
  0.69NWCSX Nationwide E PlusPairCorr

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 Allianzgi 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 Allianzgi'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  0.27  0.08 (0.19)(5.36) 0.21 
(0.32)
 0.74 
(0.51)
 1.94 
NADMX  0.36  0.12 (0.08)(4.17) 0.19 
(0.41)
 1.22 
(0.70)
 2.44 
GGEAX  0.59  0.11  0.09  0.30  0.41 
(0.72)
 1.78 
(1.13)
 4.21 
GGEIX  0.62  0.24  0.06 (2.19) 0.50 
(0.73)
 1.78 
(1.28)
 4.24 
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  0.36  0.13 (0.07)(3.44) 0.18 
(0.42)
 1.12 
(0.70)
 2.54 
NSDCX  0.27  0.03 (0.15) 0.26  0.00 
(0.34)
 0.74 
(0.52)
 1.92 
NTDAX  0.49  0.20  0.03 (3.05) 0.35 
(0.55)
 1.62 
(1.19)
 3.41 

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