Nationwide Investor Correlations

Mutual Funds . USA . 
Fund . Nationwide Investor Destinations
GAFRX Fund  USD 8.52  0.13  1.50%   
The current 90-days correlation between Nationwide Investor and Nationwide Investor Destinations is -0.05 (i.e., Good diversification). The correlation of Nationwide Investor 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 Investor Correlation With Market

Weak diversification

The correlation between Nationwide Investor Destinatio and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Investor Destinatio and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Nationwide Investor Destinations. 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 metropolitan statistical area.

Moving together with Nationwide Mutual Fund

  0.66GGEAX Nationwide Global EquityPairCorr
  0.67GGEIX Nationwide Global EquityPairCorr
  0.85GGFRX Nationwide GrowthPairCorr
  0.67GGESX Nationwide Global EquityPairCorr
  0.76NDCSX Nationwide InvestorPairCorr
  0.62NWAWX Nationwide Gqg QualityPairCorr
  0.62NWAVX Nationwide Gqg QualityPairCorr
  0.62NWAUX Nationwide Gqg QualityPairCorr
  0.61NWATX Nationwide DestinationPairCorr
  0.62NWAYX Nationwide Gqg QualityPairCorr
  0.68NWABX Nationwide Fund6PairCorr
  0.92NWAEX Nationwide Bny MellonPairCorr
  0.84NWADX Nationwide Loomis AllPairCorr

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 Investor 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 Investor'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  0.30 (0.12) 0.00 (1.18) 0.00 
 0.00 
 0.39 
(0.59)
 4.99 
NADCX  0.43 (0.15) 0.00  7.60  0.00 
 0.00 
 0.49 
(0.59)
 8.83 
NADMX  0.58 (0.22) 0.00 (0.74) 0.00 
 0.00 
 0.69 
(0.80)
 11.96 
GGEAX  0.74 (0.14) 0.00 (0.26) 0.00 
 0.00 
 0.95 
(1.40)
 8.40 
GGEIX  0.73 (0.14) 0.00 (0.25) 0.00 
 0.00 
 1.03 
(1.38)
 8.06 
GGFRX  0.63 (0.08) 0.00 (0.15) 0.00 
 0.00 
 1.09 
(1.58)
 6.22 
GGESX  0.74 (0.14) 0.00 (0.25) 0.00 
 0.00 
 0.99 
(1.37)
 8.13 
NSDMX  0.58 (0.22) 0.00 (0.78) 0.00 
 0.00 
 0.69 
(0.90)
 11.95 
NSDCX  0.44 (0.17) 0.00 (0.89) 0.00 
 0.00 
 0.49 
(0.58)
 8.75 
NBDAX  0.24 (0.05) 0.00 (1.64) 0.00 
 0.00 
 0.49 
(0.61)
 1.48 

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