Nationwide Investor Correlations

GCFRX Fund

USD 9.69 0.01 0.10%

The current 90-days correlation between Nationwide Investor and Nationwide Investor Destinations is 0.9 (i.e., Almost no 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 0.39 (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

0.71	NSDCX	Nationwide Investor	Pair Corr
0.8	NBDAX	Nationwide Bond	Pair Corr
0.78	GIIAX	Nationwide International	Pair Corr
1.0	GIMCX	Nationwide Investor	Pair Corr
0.75	GIXIX	Nationwide International	Pair Corr
0.68	NUSAX	Nationwide Government	Pair Corr
1.0	NDCAX	Nationwide Investor	Pair Corr
1.0	NDCSX	Nationwide Investor	Pair Corr
0.62	NWBIX	Nationwide Destination	Pair Corr
0.69	NWANX	Nationwide Bny Mellon	Pair Corr
0.69	NWAMX	Nationwide Mellon	Pair Corr
0.77	NWAKX	Nationwide Allianzgi	Pair Corr
0.69	NWAOX	Nationwide Bny Mellon	Pair Corr
0.83	NWCIX	Nationwide E Plus	Pair Corr
0.84	NWEBX	Nationwide Destination	Pair Corr
0.85	NWEAX	Nationwide Destination	Pair Corr
0.86	NWESX	Nationwide Destination	Pair Corr
0.74	NWHLX	Nationwide Bailard	Pair Corr

Moving against Nationwide Mutual Fund

0.32	NWGPX	Nationwide Highmark Small	Pair Corr
0.32	NWGSX	Nationwide Highmark Small	Pair Corr
0.31	NWKDX	Nationwide Geneva Small	Pair Corr

Related Correlations Analysis

	GCFRX	NADCX	NADMX	GGEAX	GGEIX	GGFRX	GGESX	NSDMX	NSDCX	NBDAX
GCFRX		0.71	0.46	0.37	0.39	0.03	0.37	0.46	0.71	0.8	GCFRX
NADCX	0.71		0.95	0.61	0.54	0.51	0.61	0.95	1.0	0.28	NADCX
NADMX	0.46	0.95		0.64	0.54	0.66	0.64	1.0	0.95	0.01	NADMX
GGEAX	0.37	0.61	0.64		0.9	0.87	1.0	0.63	0.62	0.12	GGEAX
GGEIX	0.39	0.54	0.54	0.9		0.77	0.9	0.54	0.56	0.21	GGEIX
GGFRX	0.03	0.51	0.66	0.87	0.77		0.87	0.66	0.53	-0.27	GGFRX
GGESX	0.37	0.61	0.64	1.0	0.9	0.87		0.63	0.62	0.12	GGESX
NSDMX	0.46	0.95	1.0	0.63	0.54	0.66	0.63		0.95	0.01	NSDMX
NSDCX	0.71	1.0	0.95	0.62	0.56	0.53	0.62	0.95		0.28	NSDCX
NBDAX	0.8	0.28	0.01	0.12	0.21	-0.27	0.12	0.01	0.28		NBDAX
	GCFRX	NADCX	NADMX	GGEAX	GGEIX	GGFRX	GGESX	NSDMX	NSDCX	NBDAX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

NSDCX	+ 1.0	NADCX
NSDMX	+ 1.0	NADMX
GGESX	+ 1.0	GGEAX
NADMX	+ 0.95	NADCX
NSDMX	+ 0.95	NADCX
NSDCX	+ 0.95	NADMX

High negative correlations

NBDAX

- 0.27

GGFRX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GCFRX	0.24	(0.01)	0.00	(0.12)	0.00	0.00	0.42	(0.42)	1.95
NADCX	0.41	(0.08)	0.00	(0.39)	0.00	0.00	0.65	(0.64)	5.84
NADMX	0.59	(0.14)	0.00	(0.42)	0.00	0.00	0.89	(0.89)	8.88
GGEAX	0.77	0.02	0.00	(0.03)	0.00	0.00	1.39	(1.61)	4.61
GGEIX	0.75	0.01	0.06	(0.17)	1.03	(0.75)	1.36	(1.55)	4.66
GGFRX	0.80	(0.04)	0.00	(0.09)	0.00	0.00	1.59	(1.67)	4.47
GGESX	0.77	0.02	0.00	(0.03)	0.00	0.00	1.41	(1.62)	4.60
NSDMX	0.60	(0.14)	0.00	(0.44)	0.00	0.00	0.89	(0.89)	9.03
NSDCX	0.40	(0.08)	0.00	(0.37)	0.00	0.00	0.64	(0.63)	5.68
NBDAX	0.14	0.01	0.22	(0.50)	0.07	(0.32)	0.49	(0.37)	1.37

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