Nationwide Correlations

GRMRX Fund

USD 25.49 0.36 1.39%

The current 90-days correlation between Nationwide Sp 500 and Allianzgi Health Sciences is 0.49 (i.e., Very weak diversification). The correlation of Nationwide 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 Correlation With Market

Poor diversification

The correlation between Nationwide Sp 500 and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Sp 500 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 Sp 500. 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

0.61	NADMX	Nationwide Investor	Pair Corr
0.84	GGEAX	Nationwide Global Equity	Pair Corr
0.85	GGEIX	Nationwide Global Equity	Pair Corr
0.96	GGFRX	Nationwide Growth	Pair Corr
0.85	GGESX	Nationwide Global Equity	Pair Corr
0.63	NTDAX	Nationwide Destination	Pair Corr
0.63	NTDIX	Nationwide Destination	Pair Corr
0.63	NTDTX	Nationwide Destination	Pair Corr
0.63	NTDSX	Nationwide Destination	Pair Corr
0.62	NDASX	Nationwide Investor	Pair Corr
0.61	NDMSX	Nationwide Investor	Pair Corr
0.62	NDMAX	Nationwide Investor	Pair Corr
0.82	NWAWX	Nationwide Gqg Quality	Pair Corr
0.82	NWAVX	Nationwide Gqg Quality	Pair Corr
0.82	NWAUX	Nationwide Gqg Quality	Pair Corr
0.68	NWATX	Nationwide Destination	Pair Corr
0.82	NWAYX	Nationwide Gqg Quality	Pair Corr
0.84	NWABX	Nationwide Fund6	Pair Corr
0.98	NWAEX	Nationwide Bny Mellon	Pair Corr
0.91	NWADX	Nationwide Loomis All	Pair Corr

Moving against Nationwide Mutual Fund

0.46

NUSAX

Nationwide Government

Pair Corr

Related Correlations Analysis

	RAGHX	VGHCX	HGHYX	PGHAX	ETHSX	HIAHX	THISX
RAGHX		0.27	0.75	0.6	0.77	0.96	0.53	RAGHX
VGHCX	0.27		0.66	0.65	0.18	0.31	0.79	VGHCX
HGHYX	0.75	0.66		0.76	0.63	0.8	0.83	HGHYX
PGHAX	0.6	0.65	0.76		0.82	0.67	0.65	PGHAX
ETHSX	0.77	0.18	0.63	0.82		0.8	0.33	ETHSX
HIAHX	0.96	0.31	0.8	0.67	0.8		0.59	HIAHX
THISX	0.53	0.79	0.83	0.65	0.33	0.59		THISX
	RAGHX	VGHCX	HGHYX	PGHAX	ETHSX	HIAHX	THISX

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Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide 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'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
RAGHX	0.72	(0.04)	(0.22)	1.23	(1.25)	3.57
VGHCX	0.76	(0.27)	0.69	1.32	(1.50)	8.32
HGHYX	0.73	(0.18)	1.59	1.37	(1.53)	4.76
PGHAX	0.65	(0.04)	(0.23)	1.32	(1.36)	4.12
ETHSX	0.64	0.03	(0.09)	1.29	(1.15)	4.00
HIAHX	0.66	(0.01)	(0.16)	1.36	(1.35)	4.43
THISX	0.90	(0.17)	(0.38)	1.34	(1.89)	11.35

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