Nationwide Government Correlations

NUSAX Fund

USD 10.53 0.01 0.1%

The current 90-days correlation between Nationwide Government and Transamerica Financial Life is -0.05 (i.e., Good diversification). The correlation of Nationwide Government 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 Government Correlation With Market

Good diversification

The correlation between Nationwide Government Bond and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Government Bond 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 Government Bond. 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 nation.

Moving together with Nationwide Mutual Fund

0.8	NBDAX	Nationwide Bond	Pair Corr
0.96	GIIAX	Nationwide International	Pair Corr
0.96	GIIRX	Nationwide International	Pair Corr
0.63	GIMCX	Nationwide Investor	Pair Corr
0.95	GIXIX	Nationwide International	Pair Corr
0.62	NDCAX	Nationwide Investor	Pair Corr
0.61	NDCSX	Nationwide Investor	Pair Corr
0.93	NWAJX	Nationwide Allianzgi	Pair Corr
0.93	NWAHX	Nationwide Allianzgi	Pair Corr
0.93	NWAGX	Nationwide Allianzgi	Pair Corr

Moving against Nationwide Mutual Fund

0.47	GGFRX	Nationwide Growth	Pair Corr
0.45	NDAAX	Nationwide Investor	Pair Corr
0.45	NDASX	Nationwide Investor	Pair Corr
0.42	NDMSX	Nationwide Investor	Pair Corr
0.41	NDMAX	Nationwide Investor	Pair Corr
0.36	NTDTX	Nationwide Destination	Pair Corr
0.35	NTDAX	Nationwide Destination	Pair Corr
0.34	NTDIX	Nationwide Destination	Pair Corr
0.34	NWATX	Nationwide Destination	Pair Corr
0.33	NADMX	Nationwide Investor	Pair Corr
0.33	NSDMX	Nationwide Investor	Pair Corr
0.66	NWHHX	Nationwide Bailard Nitive	Pair Corr
0.59	NWADX	Nationwide Loomis All	Pair Corr
0.55	NWABX	Nationwide Fund6	Pair Corr
0.55	NWFAX	Nationwide Fund Class	Pair Corr
0.45	NWAEX	Nationwide Bny Mellon	Pair Corr
0.41	NWHDX	Nationwide Bailard Nitive	Pair Corr
0.35	NWAQX	Nationwide Destination	Pair Corr

Related Correlations Analysis

	IAAEX	AFDVX	CSCVX	ESCIX	SMVTX	ARSMX	AOPAX
IAAEX		0.38	0.63	0.13	0.37	0.34	0.06	IAAEX
AFDVX	0.38		0.16	0.49	0.95	0.97	-0.34	AFDVX
CSCVX	0.63	0.16		0.15	0.18	0.11	0.36	CSCVX
ESCIX	0.13	0.49	0.15		0.53	0.46	0.33	ESCIX
SMVTX	0.37	0.95	0.18	0.53		0.95	-0.29	SMVTX
ARSMX	0.34	0.97	0.11	0.46	0.95		-0.31	ARSMX
AOPAX	0.06	-0.34	0.36	0.33	-0.29	-0.31		AOPAX
	IAAEX	AFDVX	CSCVX	ESCIX	SMVTX	ARSMX	AOPAX

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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

ARSMX	+ 0.97	AFDVX
SMVTX	+ 0.95	AFDVX
ARSMX	+ 0.95	SMVTX
CSCVX	+ 0.63	IAAEX
SMVTX	+ 0.53	ESCIX
ESCIX	+ 0.49	AFDVX

High negative correlations

AOPAX	- 0.34	AFDVX
AOPAX	- 0.31	ARSMX
AOPAX	- 0.29	SMVTX

Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Government 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 Government'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
IAAEX	0.81	(0.12)	0.00	0.99	0.00	0.00	1.41	(1.48)	9.17
AFDVX	0.84	(0.12)	0.00	0.92	0.00	0.00	1.86	(1.93)	4.58
CSCVX	0.41	(0.08)	0.00	1.47	0.00	0.00	0.97	(1.23)	4.53
ESCIX	0.72	(0.01)	0.00	(0.01)	0.98	(0.75)	1.87	(1.88)	4.56
SMVTX	1.02	(0.15)	0.00	0.43	0.00	0.00	1.55	(2.22)	9.55
ARSMX	0.72	(0.07)	0.00	0.85	0.00	0.00	1.17	(1.37)	3.08
AOPAX	0.44	0.07	0.12	0.17	0.49	(0.49)	1.15	(1.13)	3.90

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