Nationwide Destination Correlations

Mutual Funds . USA . 
Fund . Nationwide Destination 2015
NWEBX Fund  USD 7.27  0.01  0.14%   
The current 90-days correlation between Nationwide Destination and Nationwide Investor Destinations is -0.01 (i.e., Good diversification). The correlation of Nationwide Destination 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 Destination Correlation With Market

Good diversification

The correlation between Nationwide Destination 2015 and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Destination 2015 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 Destination 2015. 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 bureau of labor statistics.

Moving together with Nationwide Mutual Fund

  0.96GCFRX Nationwide InvestorPairCorr
  1.0NADCX Nationwide InvestorPairCorr
  0.99NADMX Nationwide InvestorPairCorr
  0.97GGEAX Nationwide Global EquityPairCorr
  0.99GGEIX Nationwide Global EquityPairCorr
  0.99GGFRX Nationwide GrowthPairCorr
  0.97GGESX Nationwide Global EquityPairCorr
  1.0NSDMX Nationwide InvestorPairCorr
  1.0NSDCX Nationwide InvestorPairCorr
  0.99NTDAX Nationwide DestinationPairCorr
  0.98NTDIX Nationwide DestinationPairCorr
  0.98NTDTX Nationwide DestinationPairCorr
  0.98NTDSX Nationwide DestinationPairCorr
  0.92GIIAX Nationwide InternationalPairCorr
  0.95GIIRX Nationwide InternationalPairCorr
  0.96GIMCX Nationwide InvestorPairCorr
  0.95GIXIX Nationwide InternationalPairCorr
  0.96NUSAX Nationwide GovernmentPairCorr
  0.99NDAAX Nationwide InvestorPairCorr
  0.98NDASX Nationwide InvestorPairCorr
  0.96NDCSX Nationwide InvestorPairCorr
  0.99NDMSX Nationwide InvestorPairCorr
  0.99NDMAX Nationwide InvestorPairCorr
  0.63NWAWX Nationwide Gqg QualityPairCorr
  0.98NWATX Nationwide DestinationPairCorr
  0.7NWAYX Nationwide Gqg QualityPairCorr
  1.0NWBIX Nationwide DestinationPairCorr
  0.98NWABX Nationwide Fund6PairCorr
  0.99NWAEX Nationwide Bny MellonPairCorr
  0.98NWADX Nationwide Loomis AllPairCorr
  0.95NWAJX Nationwide AllianzgiPairCorr
  0.95NWAGX Nationwide AllianzgiPairCorr
  0.97NWANX Nationwide Bny MellonPairCorr
  0.97NWAMX Nationwide MellonPairCorr
  0.99NWALX Nationwide Bny MellonPairCorr
  0.95NWAKX Nationwide AllianzgiPairCorr
  0.98NWASX Nationwide DestinationPairCorr
  0.99NWARX Nationwide DestinationPairCorr
  0.99NWAQX Nationwide DestinationPairCorr
  0.99NWAPX Nationwide Bny MellonPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Destination 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 Destination'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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