Nationwide Geneva Correlations

Mutual Funds . USA . 
Fund . Nationwide Geneva Mid
NWHYX Fund  USD 14.49  0.01  0.07%   
The current 90-days correlation between Nationwide Geneva Mid and Nationwide Investor Destinations is 0.62 (i.e., Poor diversification). The correlation of Nationwide Geneva 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 Geneva Correlation With Market

Almost no diversification

The correlation between Nationwide Geneva Mid and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Geneva Mid 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 Geneva Mid. 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 manufacturing.

Moving together with Nationwide Mutual Fund

  0.8GCFRX Nationwide InvestorPairCorr
  0.9NADCX Nationwide InvestorPairCorr
  0.92NADMX Nationwide InvestorPairCorr
  0.91GGEAX Nationwide Global EquityPairCorr
  0.91GGEIX Nationwide Global EquityPairCorr
  0.9GGFRX Nationwide GrowthPairCorr
  0.91GGESX Nationwide Global EquityPairCorr
  0.91NSDMX Nationwide InvestorPairCorr
  0.87NSDCX Nationwide InvestorPairCorr
  0.92NTDAX Nationwide DestinationPairCorr
  0.91NTDIX Nationwide DestinationPairCorr
  0.91NTDTX Nationwide DestinationPairCorr
  0.91NTDSX Nationwide DestinationPairCorr
  0.91GIIAX Nationwide InternationalPairCorr
  0.9GIIRX Nationwide InternationalPairCorr
  0.79GIMCX Nationwide InvestorPairCorr
  0.9GIXIX Nationwide InternationalPairCorr
  0.77NUSAX Nationwide GovernmentPairCorr
  0.93NDAAX Nationwide InvestorPairCorr
  0.84NDCAX Nationwide InvestorPairCorr
  0.92NDASX Nationwide InvestorPairCorr
  0.79NDCSX Nationwide InvestorPairCorr
  0.91NDMSX Nationwide InvestorPairCorr
  0.92NDMAX Nationwide InvestorPairCorr
  0.91NWATX Nationwide DestinationPairCorr
  0.9NWBIX Nationwide DestinationPairCorr
  0.91NWABX Nationwide Fund6PairCorr
  0.9NWAEX Nationwide Bny MellonPairCorr
  0.9NWADX Nationwide Loomis AllPairCorr
  0.92NWAJX Nationwide AllianzgiPairCorr
  0.92NWAHX Nationwide AllianzgiPairCorr
  0.92NWAGX Nationwide AllianzgiPairCorr
  0.87NWANX Nationwide Bny MellonPairCorr
  0.87NWAMX Nationwide MellonPairCorr
  0.89NWALX Nationwide Bny MellonPairCorr
  0.92NWAKX 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 Geneva 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 Geneva'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  0.27  0.03 (0.12) 0.22  0.21 
(0.32)
 0.74 
(0.51)
 1.94 
NADMX  0.35  0.05 (0.02) 0.24  0.18 
(0.41)
 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  0.13  0.12  0.28  0.51 
(0.72)
 1.78 
(1.28)
 4.24 
GGFRX  0.66  0.10  0.09  0.24  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  0.36  0.06 (0.01) 0.25  0.18 
(0.42)
 1.12 
(0.70)
 2.54 
NSDCX  0.28  0.04 (0.10) 0.24  0.18 
(0.34)
 0.74 
(0.52)
 1.92 
NTDAX  0.49  0.10  0.08  0.28  0.34 
(0.55)
 1.62 
(1.19)
 3.41 

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