Nationwide Bny Correlations

NWAPX Fund

USD 34.33 0.35 1.03%

The current 90-days correlation between Nationwide Bny Mellon and Franklin Gold Precious is 0.28 (i.e., Modest diversification). The correlation of Nationwide Bny 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 Bny Correlation With Market

Average diversification

The correlation between Nationwide Bny Mellon and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Bny Mellon 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 Bny Mellon. 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 american community survey.

Moving together with Nationwide Mutual Fund

0.69	GCFRX	Nationwide Investor	Pair Corr
0.73	NADCX	Nationwide Investor	Pair Corr
0.67	NADMX	Nationwide Investor	Pair Corr
0.87	GGEAX	Nationwide Global Equity	Pair Corr
0.86	GGEIX	Nationwide Global Equity	Pair Corr
0.61	GGFRX	Nationwide Growth	Pair Corr
0.86	GGESX	Nationwide Global Equity	Pair Corr
0.67	NSDMX	Nationwide Investor	Pair Corr
0.73	NSDCX	Nationwide Investor	Pair Corr
0.68	NTDAX	Nationwide Destination	Pair Corr
0.68	NTDIX	Nationwide Destination	Pair Corr
0.67	NTDTX	Nationwide Destination	Pair Corr
0.69	GIMCX	Nationwide Investor	Pair Corr
0.63	NDAAX	Nationwide Investor	Pair Corr
0.69	NDCAX	Nationwide Investor	Pair Corr
0.64	NDASX	Nationwide Investor	Pair Corr
0.65	NDCSX	Nationwide Investor	Pair Corr
0.65	NDMSX	Nationwide Investor	Pair Corr
0.65	NDMAX	Nationwide Investor	Pair Corr
0.81	NWAWX	Nationwide Gqg Quality	Pair Corr
0.81	NWAVX	Nationwide Gqg Quality	Pair Corr
0.81	NWAUX	Nationwide Gqg Quality	Pair Corr
0.73	NWATX	Nationwide Destination	Pair Corr
0.81	NWAYX	Nationwide Gqg Quality	Pair Corr
0.68	NWBIX	Nationwide Destination	Pair Corr
0.73	NWABX	Nationwide Fund6	Pair Corr
0.61	NWADX	Nationwide Loomis All	Pair Corr
0.85	NWANX	Nationwide Bny Mellon	Pair Corr
1.0	NWAMX	Nationwide Mellon	Pair Corr
0.85	NWALX	Nationwide Bny Mellon	Pair Corr

Related Correlations Analysis

	FRGOX	QGLDX	UIPMX	MXKJX	IOGYX	FGDIX	UNWPX	XGGNX
FRGOX		0.98	0.99	-0.55	0.97	1.0	0.97	0.93	FRGOX
QGLDX	0.98		0.99	-0.55	0.95	0.99	0.96	0.94	QGLDX
UIPMX	0.99	0.99		-0.56	0.96	1.0	0.96	0.94	UIPMX
MXKJX	-0.55	-0.55	-0.56		-0.52	-0.55	-0.54	-0.53	MXKJX
IOGYX	0.97	0.95	0.96	-0.52		0.96	0.94	0.97	IOGYX
FGDIX	1.0	0.99	1.0	-0.55	0.96		0.97	0.93	FGDIX
UNWPX	0.97	0.96	0.96	-0.54	0.94	0.97		0.92	UNWPX
XGGNX	0.93	0.94	0.94	-0.53	0.97	0.93	0.92		XGGNX
	FRGOX	QGLDX	UIPMX	MXKJX	IOGYX	FGDIX	UNWPX	XGGNX

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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

FGDIX	+ 1.0	FRGOX
FGDIX	+ 1.0	UIPMX
UIPMX	+ 0.99	FRGOX
UIPMX	+ 0.99	QGLDX
FGDIX	+ 0.99	QGLDX
QGLDX	+ 0.98	FRGOX

High negative correlations

MXKJX	- 0.56	UIPMX
FGDIX	- 0.55	MXKJX
MXKJX	- 0.55	QGLDX
MXKJX	- 0.55	FRGOX
UNWPX	- 0.54	MXKJX
XGGNX	- 0.53	MXKJX

Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Bny 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 Bny'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
FRGOX	1.22	0.42	0.27	0.74	1.17	(1.38)	3.38	(2.63)	6.89
QGLDX	0.72	0.17	0.24	(2.70)	0.68	(0.82)	1.71	(1.33)	3.97
UIPMX	1.16	0.35	0.24	0.98	1.17	(1.28)	2.90	(2.32)	7.10
MXKJX	1.09	(0.05)	0.00	(0.12)	0.00	0.00	1.47	(1.97)	26.05
IOGYX	1.27	0.23	0.16	(2.45)	1.46	(1.39)	2.70	(3.12)	7.70
FGDIX	1.24	0.35	0.22	0.75	1.31	(1.41)	3.15	(2.74)	6.82
UNWPX	1.28	0.29	0.17	0.73	1.38	(1.60)	3.11	(2.50)	8.41
XGGNX	0.62	0.10	0.14	3.46	0.71	(0.71)	1.44	(1.20)	3.21

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