Nationwide Bond Correlations

GBIAX Fund

USD 9.58 0.05 0.52%

The current 90-days correlation between Nationwide Bond Index and Madison Diversified Income is -0.12 (i.e., Good diversification). The correlation of Nationwide Bond 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 Bond Correlation With Market

Very good diversification

The correlation between Nationwide Bond Index and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Bond Index 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 Bond Index. 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

0.65	GCFRX	Nationwide Investor	Pair Corr
0.77	NBDAX	Nationwide Bond	Pair Corr
0.81	GIIAX	Nationwide International	Pair Corr
0.89	GIIRX	Nationwide International	Pair Corr
0.65	GIMCX	Nationwide Investor	Pair Corr
0.81	GIXIX	Nationwide International	Pair Corr
0.73	NUSAX	Nationwide Government	Pair Corr
0.7	NDCAX	Nationwide Investor	Pair Corr
0.7	NDCSX	Nationwide Investor	Pair Corr
0.87	NWAJX	Nationwide Allianzgi	Pair Corr
0.87	NWAHX	Nationwide Allianzgi	Pair Corr
0.87	NWAGX	Nationwide Allianzgi	Pair Corr
0.87	NWAKX	Nationwide Allianzgi	Pair Corr
0.93	NWCIX	Nationwide E Plus	Pair Corr
0.93	NWCSX	Nationwide E Plus	Pair Corr

Moving against Nationwide Mutual Fund

0.43	GGFRX	Nationwide Growth	Pair Corr
0.37	NDAAX	Nationwide Investor	Pair Corr
0.52	NWADX	Nationwide Loomis All	Pair Corr
0.51	NWAEX	Nationwide Bny Mellon	Pair Corr
0.45	NWHDX	Nationwide Bailard Nitive	Pair Corr
0.44	NWHHX	Nationwide Bailard Nitive	Pair Corr
0.42	NWFAX	Nationwide Fund Class	Pair Corr
0.41	NWABX	Nationwide Fund6	Pair Corr

Related Correlations Analysis

	MBLAX	HIIDX	DLTZX	PGBAX	BDVFX	ACDOX
MBLAX		0.64	0.51	0.74	0.57	0.57	MBLAX
HIIDX	0.64		0.81	0.91	0.83	0.88	HIIDX
DLTZX	0.51	0.81		0.88	0.98	0.91	DLTZX
PGBAX	0.74	0.91	0.88		0.9	0.96	PGBAX
BDVFX	0.57	0.83	0.98	0.9		0.92	BDVFX
ACDOX	0.57	0.88	0.91	0.96	0.92		ACDOX
	MBLAX	HIIDX	DLTZX	PGBAX	BDVFX	ACDOX

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Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Bond 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 Bond'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MBLAX	0.25	0.01	0.12	0.01	0.27	(0.29)	0.47	(0.47)	1.34
HIIDX	0.61	0.12	0.16	0.20	0.67	(0.66)	1.27	(0.88)	5.23
DLTZX	0.08	0.01	0.33	3.05	0.00	(0.18)	0.26	(0.13)	0.64
PGBAX	0.13	0.02	0.36	0.31	0.00	(0.19)	0.34	(0.17)	0.85
BDVFX	0.22	0.03	0.24	1.01	0.10	(0.29)	0.54	(0.32)	1.41
ACDOX	0.24	0.04	0.27	0.62	0.08	(0.30)	0.55	(0.34)	1.46

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