Nationwide Fund Correlations

Mutual Funds . USA . 
Fund . Nationwide Fund Class
NWFAX Fund  USD 34.02  0.08  0.23%   
The current 90-days correlation between Nationwide Fund Class and Pace Global Real is 0.01 (i.e., Significant diversification). The correlation of Nationwide Fund 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 Fund Correlation With Market

Good diversification

The correlation between Nationwide Fund Class and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Fund Class 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 Fund Class. 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

  0.79GCFRX Nationwide InvestorPairCorr
  0.99NADCX Nationwide InvestorPairCorr
  0.84NADMX Nationwide InvestorPairCorr
  0.99GGEAX Nationwide Global EquityPairCorr
  0.99GGEIX Nationwide Global EquityPairCorr
  0.76GGFRX Nationwide GrowthPairCorr
  0.85GGESX Nationwide Global EquityPairCorr
  1.0NSDMX Nationwide InvestorPairCorr
  0.98NSDCX Nationwide InvestorPairCorr
  1.0NTDAX Nationwide DestinationPairCorr
  1.0NTDIX Nationwide DestinationPairCorr
  1.0NTDTX Nationwide DestinationPairCorr
  0.84NTDSX Nationwide DestinationPairCorr
  0.93GIIAX Nationwide InternationalPairCorr
  0.62GIIRX Nationwide InternationalPairCorr
  0.94GIMCX Nationwide InvestorPairCorr
  0.62GIXIX Nationwide InternationalPairCorr
  0.94NUSAX Nationwide GovernmentPairCorr
  0.73NDAAX Nationwide InvestorPairCorr
  0.66NDCAX Nationwide InvestorPairCorr
  0.73NDASX Nationwide InvestorPairCorr
  0.71NDCSX Nationwide InvestorPairCorr
  0.74NDMSX Nationwide InvestorPairCorr
  0.74NDMAX Nationwide InvestorPairCorr
  0.73NWATX Nationwide DestinationPairCorr
  0.99NWBIX Nationwide DestinationPairCorr
  0.75NWABX Nationwide Fund6PairCorr
  0.77NWAEX Nationwide Bny MellonPairCorr
  0.76NWADX Nationwide Loomis AllPairCorr
  0.66NWAJX Nationwide AllianzgiPairCorr
  0.66NWAHX Nationwide AllianzgiPairCorr
  0.66NWAGX Nationwide AllianzgiPairCorr
  0.77NWANX Nationwide Bny MellonPairCorr
  0.77NWAMX Nationwide MellonPairCorr
  0.99NWALX Nationwide Bny MellonPairCorr
  0.66NWAKX 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 Fund 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 Fund'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.

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