Nationwide Highmark Correlations

Mutual Funds . USA . 
Fund . Nationwide Highmark Small
NWKEX Fund  USD 28.54  0.33  1.14%   
The current 90-days correlation between Nationwide Highmark Small and Fam Value Fund is -0.13 (i.e., Good diversification). The correlation of Nationwide Highmark 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 Highmark Correlation With Market

Good diversification

The correlation between Nationwide Highmark Small 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 Highmark Small 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 Highmark Small. 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 income.

Moving together with Nationwide Mutual Fund

  0.65GCFRX Nationwide InvestorPairCorr
  0.91NADCX Nationwide InvestorPairCorr
  0.74NADMX Nationwide InvestorPairCorr
  0.91GGEAX Nationwide Global EquityPairCorr
  0.91GGEIX Nationwide Global EquityPairCorr
  0.76GGFRX Nationwide GrowthPairCorr
  0.75GGESX Nationwide Global EquityPairCorr
  0.91NSDMX Nationwide InvestorPairCorr
  0.89NSDCX Nationwide InvestorPairCorr
  0.92NTDAX Nationwide DestinationPairCorr
  0.92NTDIX Nationwide DestinationPairCorr
  0.74NTDSX Nationwide DestinationPairCorr
  0.88GIIAX Nationwide InternationalPairCorr
  0.67GIIRX Nationwide InternationalPairCorr
  0.81GIMCX Nationwide InvestorPairCorr
  0.67GIXIX Nationwide InternationalPairCorr
  0.78NUSAX Nationwide GovernmentPairCorr
  0.75NDAAX Nationwide InvestorPairCorr
  0.67NDCAX Nationwide InvestorPairCorr
  0.76NDASX Nationwide InvestorPairCorr
  0.69NDCSX Nationwide InvestorPairCorr
  0.75NDMSX Nationwide InvestorPairCorr
  0.75NDMAX Nationwide InvestorPairCorr
  0.75NWATX Nationwide DestinationPairCorr
  0.76NWABX Nationwide Fund6PairCorr
  0.76NWAEX Nationwide Bny MellonPairCorr
  0.75NWADX Nationwide Loomis AllPairCorr
  0.7NWAJX Nationwide AllianzgiPairCorr
  0.7NWAHX Nationwide AllianzgiPairCorr
  0.7NWAGX Nationwide AllianzgiPairCorr
  0.77NWANX Nationwide Bny MellonPairCorr
  0.77NWAMX Nationwide MellonPairCorr
  0.92NWALX Nationwide Bny MellonPairCorr
  0.7NWAKX Nationwide AllianzgiPairCorr
  0.92NWASX Nationwide DestinationPairCorr
  0.74NWARX Nationwide DestinationPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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