Nationwide Inflation Correlations

NIFIX Fund

USD 8.83 0.02 0.23%

The current 90-days correlation between Nationwide Inflation and Nationwide Investor Destinations is 0.47 (i.e., Very weak diversification). The correlation of Nationwide Inflation 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 Inflation Correlation With Market

Significant diversification

The correlation between Nationwide Inflation Protected and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Inflation Protected 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 Inflation Protected Securities. 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

0.79	GCFRX	Nationwide Investor	Pair Corr
0.61	GGEAX	Nationwide Global Equity	Pair Corr
0.61	NSDCX	Nationwide Investor	Pair Corr
0.98	NBDAX	Nationwide Bond	Pair Corr
0.9	GIIAX	Nationwide International	Pair Corr
0.93	GIIRX	Nationwide International	Pair Corr
0.77	GIMCX	Nationwide Investor	Pair Corr
0.93	GIXIX	Nationwide International	Pair Corr
0.78	NDCAX	Nationwide Investor	Pair Corr
0.78	NDCSX	Nationwide Investor	Pair Corr
0.85	NWAJX	Nationwide Allianzgi	Pair Corr
0.85	NWAHX	Nationwide Allianzgi	Pair Corr
0.85	NWAGX	Nationwide Allianzgi	Pair Corr

Related Correlations Analysis

	GCFRX	NADCX	NADMX	GGEAX	GGEIX	GGFRX	GGESX	NSDMX	NSDCX	NBDAX
GCFRX		0.86	0.81	0.81	0.81	0.39	0.81	0.82	0.96	0.74	GCFRX
NADCX	0.86		0.99	0.75	0.75	0.51	0.75	0.99	0.89	0.48	NADCX
NADMX	0.81	0.99		0.74	0.74	0.57	0.74	1.0	0.87	0.37	NADMX
GGEAX	0.81	0.75	0.74		1.0	0.6	1.0	0.74	0.83	0.49	GGEAX
GGEIX	0.81	0.75	0.74	1.0		0.61	1.0	0.74	0.83	0.48	GGEIX
GGFRX	0.39	0.51	0.57	0.6	0.61		0.61	0.56	0.51	-0.09	GGFRX
GGESX	0.81	0.75	0.74	1.0	1.0	0.61		0.74	0.83	0.48	GGESX
NSDMX	0.82	0.99	1.0	0.74	0.74	0.56	0.74		0.88	0.37	NSDMX
NSDCX	0.96	0.89	0.87	0.83	0.83	0.51	0.83	0.88		0.53	NSDCX
NBDAX	0.74	0.48	0.37	0.49	0.48	-0.09	0.48	0.37	0.53		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

NSDMX	+ 1.0	NADMX
GGEIX	+ 1.0	GGEAX
GGESX	+ 1.0	GGEAX
GGESX	+ 1.0	GGEIX
NADMX	+ 0.99	NADCX
NSDMX	+ 0.99	NADCX

High negative correlations

NBDAX

- 0.09

GGFRX

Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Inflation 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 Inflation'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	0.29	(0.10)	0.00	12.16	0.00	0.00	0.39	(0.59)	4.99
NADCX	0.41	(0.15)	0.00	(2.41)	0.00	0.00	0.49	(0.58)	8.83
NADMX	0.54	(0.18)	0.00	(2.18)	0.00	0.00	0.69	(0.69)	11.96
GGEAX	0.75	(0.13)	0.00	2.17	0.00	0.00	0.94	(1.38)	9.33
GGEIX	0.74	(0.13)	0.00	2.37	0.00	0.00	0.94	(1.36)	9.11
GGFRX	0.59	(0.01)	(0.03)	(0.21)	1.07	(0.59)	1.07	(1.30)	6.55
GGESX	0.74	(0.13)	0.00	2.65	0.00	0.00	0.94	(1.36)	9.02
NSDMX	0.54	(0.18)	0.00	(2.29)	0.00	0.00	0.69	(0.70)	11.95
NSDCX	0.41	(0.15)	0.00	2.30	0.00	0.00	0.49	(0.58)	8.75
NBDAX	0.26	(0.07)	0.00	(0.99)	0.00	0.00	0.37	(0.61)	1.47

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