Nationwide Core Correlations

Mutual Funds . USA . 
Fund . Nationwide E Plus
NWCIX Fund  USD 9.12  0.01  0.11%   
The current 90-days correlation between Nationwide E Plus and Nationwide Investor Destinations is 0.81 (i.e., Very poor diversification). The correlation of Nationwide Core 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 Core Correlation With Market

Modest diversification

The correlation between Nationwide E Plus and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide E Plus 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 E Plus. 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

  0.91GCFRX Nationwide InvestorPairCorr
  0.78NADCX Nationwide InvestorPairCorr
  0.75NADMX Nationwide InvestorPairCorr
  0.77GGEAX Nationwide Global EquityPairCorr
  0.76GGEIX Nationwide Global EquityPairCorr
  0.75GGFRX Nationwide GrowthPairCorr
  0.77GGESX Nationwide Global EquityPairCorr
  0.77NSDMX Nationwide InvestorPairCorr
  0.81NSDCX Nationwide InvestorPairCorr
  0.74NTDAX Nationwide DestinationPairCorr
  0.76NTDIX Nationwide DestinationPairCorr
  0.76NTDTX Nationwide DestinationPairCorr
  0.76NTDSX Nationwide DestinationPairCorr
  0.67GIIAX Nationwide InternationalPairCorr
  0.73GIIRX Nationwide InternationalPairCorr
  0.91GIMCX Nationwide InvestorPairCorr
  0.73GIXIX Nationwide InternationalPairCorr
  0.81NUSAX Nationwide GovernmentPairCorr
  0.73NDAAX Nationwide InvestorPairCorr
  0.82NDCAX Nationwide InvestorPairCorr
  0.75NDASX Nationwide InvestorPairCorr
  0.92NDCSX Nationwide InvestorPairCorr
  0.75NDMSX Nationwide InvestorPairCorr
  0.74NDMAX Nationwide InvestorPairCorr
  0.66NWAWX Nationwide Gqg QualityPairCorr
  0.67NWAVX Nationwide Gqg QualityPairCorr
  0.76NWATX Nationwide DestinationPairCorr
  0.63NWAYX Nationwide Gqg QualityPairCorr
  0.78NWBIX Nationwide DestinationPairCorr
  0.75NWABX Nationwide Fund6PairCorr
  0.76NWAEX Nationwide Bny MellonPairCorr
  0.75NWADX Nationwide Loomis AllPairCorr
  0.71NWAJX Nationwide AllianzgiPairCorr
  0.7NWAHX Nationwide AllianzgiPairCorr
  0.7NWAGX Nationwide AllianzgiPairCorr
  0.8NWANX Nationwide Bny MellonPairCorr
  0.8NWAMX Nationwide MellonPairCorr
  0.76NWALX Nationwide Bny MellonPairCorr
  0.71NWAKX 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 Core 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 Core'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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