Nationwide Fund6 Correlations

NWABX Fund

USD 29.60 0.05 0.17%

The current 90-days correlation between Nationwide Fund6 and Allianzgi Nfj Large Cap is -0.1 (i.e., Good diversification). The correlation of Nationwide Fund6 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 Fund6 Correlation With Market

Good diversification

The correlation between Nationwide Fund6 and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Fund6 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 Fund6. 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 bureau of labor statistics.

Moving together with Nationwide Mutual Fund

0.81	VTSAX	Vanguard Total Stock	Pair Corr
0.81	VFIAX	Vanguard 500 Index	Pair Corr
0.81	VTSMX	Vanguard Total Stock	Pair Corr
0.81	VITSX	Vanguard Total Stock	Pair Corr
0.81	VSMPX	Vanguard Total Stock	Pair Corr
0.81	VSTSX	Vanguard Total Stock	Pair Corr
0.81	VFINX	Vanguard 500 Index	Pair Corr
0.81	VFFSX	Vanguard 500 Index	Pair Corr
0.76	VINIX	Vanguard Institutional	Pair Corr
0.76	VIIIX	Vanguard Institutional	Pair Corr
0.79	WHIYX	Ivy High Income	Pair Corr
0.74	IVHIX	Ivy High Income	Pair Corr
0.74	IHIFX	Ivy High Income	Pair Corr
0.8	WRHIX	Ivy High Income	Pair Corr
0.77	WHIAX	Ivy High Income	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.74	BA	Boeing	Pair Corr
0.78	JPM	JPMorgan Chase	Pair Corr
0.82	BAC	Bank of America	Pair Corr
0.87	AXP	American Express	Pair Corr

Moving against Nationwide Mutual Fund

0.58	TRV	The Travelers Companies	Pair Corr
0.41	KO	Coca Cola	Pair Corr
0.41	JNJ	Johnson Johnson	Pair Corr
0.4	PG	Procter Gamble	Pair Corr
0.33	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	ANVIX	FCLKX	PAFDX	OAKLX	TRCPX	TACLX	LTFOX	TALCX
ANVIX		0.89	0.67	0.96	0.81	0.75	0.91	0.96	ANVIX
FCLKX	0.89		0.56	0.94	0.73	0.57	0.89	0.88	FCLKX
PAFDX	0.67	0.56		0.7	0.95	0.89	0.83	0.78	PAFDX
OAKLX	0.96	0.94	0.7		0.85	0.76	0.95	0.95	OAKLX
TRCPX	0.81	0.73	0.95	0.85		0.93	0.95	0.9	TRCPX
TACLX	0.75	0.57	0.89	0.76	0.93		0.86	0.81	TACLX
LTFOX	0.91	0.89	0.83	0.95	0.95	0.86		0.96	LTFOX
TALCX	0.96	0.88	0.78	0.95	0.9	0.81	0.96		TALCX
	ANVIX	FCLKX	PAFDX	OAKLX	TRCPX	TACLX	LTFOX	TALCX

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Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Fund6 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 Fund6'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
ANVIX	0.71	(0.05)	0.00	(0.13)	0.00	0.00	1.22	(1.63)	3.29
FCLKX	0.81	0.00	0.00	(0.07)	0.00	0.00	1.58	(2.15)	5.00
PAFDX	0.61	0.06	0.10	0.02	0.78	(0.66)	1.23	(1.15)	3.38
OAKLX	0.76	(0.01)	0.00	(0.08)	0.00	0.00	1.40	(1.88)	3.58
TRCPX	0.66	0.03	0.00	(0.02)	0.00	0.00	1.21	(1.53)	3.55
TACLX	0.65	0.01	0.00	(0.06)	0.00	0.00	1.26	(1.48)	3.10
LTFOX	0.69	0.01	0.00	(0.06)	0.00	0.00	1.42	(1.60)	3.58
TALCX	0.65	(0.01)	0.00	(0.09)	0.00	0.00	1.36	(1.38)	3.68

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