Nationwide Global Correlations

Mutual Funds . USA . 
Fund . Nationwide Global Equity
GGEIX Fund  USD 22.49  0.27  1.22%   
The current 90-days correlation between Nationwide Global Equity and Mfs Diversified Income is -0.02 (i.e., Good diversification). The correlation of Nationwide Global 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 Global Correlation With Market

Good diversification

The correlation between Nationwide Global Equity and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Global Equity 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 Global Equity. 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 gross domestic product.

Moving together with Nationwide Mutual Fund

  0.69NADMX Nationwide InvestorPairCorr
  0.86GGEAX Nationwide Global EquityPairCorr
  0.77GGFRX Nationwide GrowthPairCorr
  0.7NSDCX Nationwide InvestorPairCorr
  0.71NTDAX Nationwide DestinationPairCorr
  0.71NTDTX Nationwide DestinationPairCorr
  0.68NDAAX Nationwide InvestorPairCorr
  0.89NWAUX Nationwide Gqg QualityPairCorr
  0.82NWATX Nationwide DestinationPairCorr
  0.89NWAYX Nationwide Gqg QualityPairCorr
  0.65NWBIX Nationwide DestinationPairCorr
  0.79NWABX Nationwide Fund6PairCorr
  0.76NWAEX Nationwide Bny MellonPairCorr
  0.76NWADX Nationwide Loomis AllPairCorr
  0.86NWANX Nationwide Bny MellonPairCorr
  0.86NWAMX Nationwide MellonPairCorr
  0.83NWASX Nationwide DestinationPairCorr
  0.82NWARX Nationwide DestinationPairCorr
  0.86NWAOX Nationwide Bny MellonPairCorr
  0.61NWEBX Nationwide DestinationPairCorr
  0.61NWESX Nationwide DestinationPairCorr
  0.71NWHHX Nationwide Bailard NitivePairCorr
  0.71NWHGX Nationwide Bailard NitivePairCorr
  0.8NWHOX Nationwide BailardPairCorr

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 Global 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 Global'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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