Nationwide Allianzgi Correlations

NWAGX Fund

USD 20.57 0.25 1.20%

The current 90-days correlation between Nationwide Allianzgi and Pnc International Equity is 0.12 (i.e., Average diversification). The correlation of Nationwide Allianzgi 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 Allianzgi Correlation With Market

Good diversification

The correlation between Nationwide Allianzgi Internati and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Allianzgi Internati 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 Allianzgi International. 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 price.

Moving together with Nationwide Mutual Fund

0.8	GCFRX	Nationwide Investor	Pair Corr
0.75	NBDAX	Nationwide Bond	Pair Corr
0.85	GIIAX	Nationwide International	Pair Corr
0.99	GIIRX	Nationwide International	Pair Corr
0.81	GIMCX	Nationwide Investor	Pair Corr
0.85	GIXIX	Nationwide International	Pair Corr
0.76	NUSAX	Nationwide Government	Pair Corr
0.76	NDCAX	Nationwide Investor	Pair Corr
0.75	NDCSX	Nationwide Investor	Pair Corr
1.0	NWAJX	Nationwide Allianzgi	Pair Corr
1.0	NWAHX	Nationwide Allianzgi	Pair Corr

Moving against Nationwide Mutual Fund

0.36	GGFRX	Nationwide Growth	Pair Corr
0.58	NWHDX	Nationwide Bailard Nitive	Pair Corr
0.58	NWHHX	Nationwide Bailard Nitive	Pair Corr
0.43	NWABX	Nationwide Fund6	Pair Corr
0.43	NWFAX	Nationwide Fund Class	Pair Corr
0.42	NWADX	Nationwide Loomis All	Pair Corr
0.32	NWAEX	Nationwide Bny Mellon	Pair Corr

Related Correlations Analysis

	PMIEX	OWFIX	QLENX	MSTFX	PAEIX	TOIIX	AAEZX	CIESX
PMIEX		0.77	0.84	0.89	0.88	0.84	0.79	0.83	PMIEX
OWFIX	0.77		0.86	0.9	0.9	0.93	0.87	0.76	OWFIX
QLENX	0.84	0.86		0.93	0.94	0.92	0.89	0.87	QLENX
MSTFX	0.89	0.9	0.93		1.0	0.97	0.88	0.9	MSTFX
PAEIX	0.88	0.9	0.94	1.0		0.97	0.9	0.92	PAEIX
TOIIX	0.84	0.93	0.92	0.97	0.97		0.82	0.8	TOIIX
AAEZX	0.79	0.87	0.89	0.88	0.9	0.82		0.93	AAEZX
CIESX	0.83	0.76	0.87	0.9	0.92	0.8	0.93		CIESX
	PMIEX	OWFIX	QLENX	MSTFX	PAEIX	TOIIX	AAEZX	CIESX

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Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Allianzgi 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 Allianzgi'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
PMIEX	0.81	(0.04)	0.00	(0.13)	0.00	0.00	1.56	(1.60)	9.07
OWFIX	0.17	0.03	0.35	(7.59)	0.00	(0.23)	0.40	(0.30)	1.01
QLENX	0.43	0.13	0.28	0.25	0.40	(0.48)	0.81	(0.65)	3.11
MSTFX	0.64	0.14	0.19	0.18	0.67	(0.70)	1.39	(1.31)	4.63
PAEIX	0.66	0.15	0.19	0.18	0.71	(0.70)	1.50	(1.22)	4.54
TOIIX	0.63	0.24	0.32	0.37	0.49	(0.71)	1.51	(1.01)	5.44
AAEZX	0.22	0.02	0.23	0.06	0.19	(0.27)	0.49	(0.39)	1.40
CIESX	0.68	0.09	0.11	0.09	0.93	(0.69)	1.58	(1.20)	5.26

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