Nationwide Core Correlations

NWCIX Fund

USD 8.98 0.02 0.22%

The current 90-days correlation between Nationwide E Plus and Blackrock Government Bond is 0.95 (i.e., Almost no diversification). The correlation of Nationwide Core 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 Core Correlation With Market

Good diversification

The correlation between Nationwide E Plus and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide E Plus 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 E Plus. 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

0.86	GCFRX	Nationwide Investor	Pair Corr
1.0	NBDAX	Nationwide Bond	Pair Corr
0.73	GIIAX	Nationwide International	Pair Corr
0.76	GIIRX	Nationwide International	Pair Corr
0.83	GIMCX	Nationwide Investor	Pair Corr
0.76	GIXIX	Nationwide International	Pair Corr
0.85	NDCAX	Nationwide Investor	Pair Corr
0.84	NDCSX	Nationwide Investor	Pair Corr

Moving against Nationwide Mutual Fund

0.84	NUSAX	Nationwide Government	Pair Corr
0.69	GGFRX	Nationwide Growth	Pair Corr
0.65	NDAAX	Nationwide Investor	Pair Corr
0.65	NDASX	Nationwide Investor	Pair Corr
0.59	NTDIX	Nationwide Destination	Pair Corr
0.59	NDMAX	Nationwide Investor	Pair Corr
0.58	NTDAX	Nationwide Destination	Pair Corr
0.58	NTDSX	Nationwide Destination	Pair Corr
0.58	NDMSX	Nationwide Investor	Pair Corr
0.57	NTDTX	Nationwide Destination	Pair Corr
0.55	NWAWX	Nationwide Gqg Quality	Pair Corr
0.55	NWAVX	Nationwide Gqg Quality	Pair Corr
0.55	NWAUX	Nationwide Gqg Quality	Pair Corr
0.43	NADMX	Nationwide Investor	Pair Corr
0.43	NSDMX	Nationwide Investor	Pair Corr
0.79	NWADX	Nationwide Loomis All	Pair Corr
0.77	NWABX	Nationwide Fund6	Pair Corr
0.77	NWFAX	Nationwide Fund Class	Pair Corr
0.73	NWANX	Nationwide Bny Mellon	Pair Corr
0.73	NWALX	Nationwide Bny Mellon	Pair Corr
0.73	NWAOX	Nationwide Bny Mellon	Pair Corr
0.72	NWAMX	Nationwide Mellon	Pair Corr
0.72	NWAPX	Nationwide Bny Mellon	Pair Corr
0.7	NWAEX	Nationwide Bny Mellon	Pair Corr
0.68	NWHDX	Nationwide Bailard Nitive	Pair Corr
0.6	NWATX	Nationwide Destination	Pair Corr
0.6	NWASX	Nationwide Destination	Pair Corr

Related Correlations Analysis

	BIGLX	PGIQX	SMAAX	FHNFX	SSAGX	RYAQX
BIGLX		0.97	0.85	0.97	-0.53	-0.96	BIGLX
PGIQX	0.97		0.87	1.0	-0.51	-0.97	PGIQX
SMAAX	0.85	0.87		0.86	-0.33	-0.81	SMAAX
FHNFX	0.97	1.0	0.86		-0.51	-0.98	FHNFX
SSAGX	-0.53	-0.51	-0.33	-0.51		0.65	SSAGX
RYAQX	-0.96	-0.97	-0.81	-0.98	0.65		RYAQX
	BIGLX	PGIQX	SMAAX	FHNFX	SSAGX	RYAQX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FHNFX	+ 1.0	PGIQX
PGIQX	+ 0.97	BIGLX
FHNFX	+ 0.97	BIGLX
SMAAX	+ 0.87	PGIQX
FHNFX	+ 0.86	SMAAX
SMAAX	+ 0.85	BIGLX

High negative correlations

RYAQX	- 0.98	FHNFX
RYAQX	- 0.97	PGIQX
RYAQX	- 0.96	BIGLX
RYAQX	- 0.81	SMAAX
SSAGX	- 0.53	BIGLX
SSAGX	- 0.51	FHNFX

Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Core 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 Core'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
BIGLX	0.23	(0.02)	0.00	0.54	0.00	0.00	0.33	(0.55)	1.44
PGIQX	0.23	(0.04)	0.00	(0.48)	0.00	0.00	0.50	(0.64)	1.41
SMAAX	0.12	(0.02)	0.00	(0.31)	0.00	0.00	0.20	(0.30)	0.99
FHNFX	0.24	(0.04)	0.00	(0.44)	0.00	0.00	0.54	(0.54)	1.63
SSAGX	0.05	0.01	(1.02)	(0.31)	0.00	(0.23)	0.10	(0.10)	0.51
RYAQX	0.60	0.11	(0.02)	(0.97)	0.64	(0.68)	1.52	(1.27)	5.23

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC