Nationwide Investor Correlations

NDCSX Fund

USD 10.24 0.01 0.1%

The current 90-days correlation between Nationwide Investor and Goldman Sachs High is -0.06 (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 Correlation 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 state.

Moving together with Nationwide Mutual Fund

1.0	GCFRX	Nationwide Investor	Pair Corr
0.85	NBDAX	Nationwide Bond	Pair Corr
0.61	GIIAX	Nationwide International	Pair Corr
0.66	GIIRX	Nationwide International	Pair Corr
1.0	GIMCX	Nationwide Investor	Pair Corr
0.66	GIXIX	Nationwide International	Pair Corr
1.0	NDCAX	Nationwide Investor	Pair Corr

Moving against Nationwide Mutual Fund

0.5	NUSAX	Nationwide Government	Pair Corr
0.38	NWADX	Nationwide Loomis All	Pair Corr
0.32	NWABX	Nationwide Fund6	Pair Corr
0.32	NWFAX	Nationwide Fund Class	Pair Corr
0.31	NWANX	Nationwide Bny Mellon	Pair Corr
0.31	NWALX	Nationwide Bny Mellon	Pair Corr
0.31	NWAOX	Nationwide Bny Mellon	Pair Corr

Related Correlations Analysis

	GFRCX	PARCX	AGDAX	VWALX	WAHSX	PHDTX	BCHIX	LBETX
GFRCX		0.58	0.82	-0.16	0.8	0.84	-0.14	0.84	GFRCX
PARCX	0.58		0.74	0.13	0.75	0.85	0.11	0.87	PARCX
AGDAX	0.82	0.74		0.31	0.94	0.93	0.31	0.76	AGDAX
VWALX	-0.16	0.13	0.31		0.2	0.11	0.89	-0.17	VWALX
WAHSX	0.8	0.75	0.94	0.2		0.94	0.28	0.76	WAHSX
PHDTX	0.84	0.85	0.93	0.11	0.94		0.14	0.89	PHDTX
BCHIX	-0.14	0.11	0.31	0.89	0.28	0.14		-0.18	BCHIX
LBETX	0.84	0.87	0.76	-0.17	0.76	0.89	-0.18		LBETX
	GFRCX	PARCX	AGDAX	VWALX	WAHSX	PHDTX	BCHIX	LBETX

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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

WAHSX	+ 0.94	AGDAX
PHDTX	+ 0.94	WAHSX
PHDTX	+ 0.93	AGDAX
BCHIX	+ 0.89	VWALX
LBETX	+ 0.89	PHDTX
LBETX	+ 0.87	PARCX

High negative correlations

LBETX	- 0.18	BCHIX
LBETX	- 0.17	VWALX
VWALX	- 0.16	GFRCX
BCHIX	- 0.14	GFRCX

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
GFRCX	0.07	0.02	(0.77)	(0.84)	0.00	(0.24)	0.11	(0.11)	0.80
PARCX	0.35	(0.03)	(0.18)	0.05	0.43	(0.36)	0.66	(0.76)	2.10
AGDAX	0.12	0.02	(0.44)	(1.84)	0.00	(0.25)	0.29	(0.28)	0.87
VWALX	0.16	0.00	(0.26)	0.08	0.25	(0.22)	0.37	(0.37)	1.68
WAHSX	0.13	0.02	(0.48)	0.55	0.00	(0.25)	0.43	(0.14)	0.86
PHDTX	0.09	0.02	(0.60)	0.38	0.00	(0.15)	0.23	(0.11)	0.56
BCHIX	0.16	0.02	(0.23)	(0.14)	0.22	(0.22)	0.41	(0.40)	1.53
LBETX	0.22	(0.01)	(0.22)	0.10	0.23	(0.26)	0.45	(0.52)	1.42

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