Nationwide Correlations

NWCPX Fund

USD 9.04 0.02 0.22%

The current 90-days correlation between Nationwide E Plus and Us Government Securities is 0.85 (i.e., Very poor diversification). The correlation of Nationwide 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 Correlation With Market

Average diversification

The correlation between Nationwide E Plus and DJI is 0.16 (i.e., Average 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 american community survey.

Moving together with Nationwide Mutual Fund

0.91	NBDAX	Nationwide Bond	Pair Corr
0.95	GIIAX	Nationwide International	Pair Corr
0.95	GIIRX	Nationwide International	Pair Corr
0.62	GIMCX	Nationwide Investor	Pair Corr
0.95	GIXIX	Nationwide International	Pair Corr
0.91	NUSAX	Nationwide Government	Pair Corr
0.62	NDCAX	Nationwide Investor	Pair Corr
0.61	NDCSX	Nationwide Investor	Pair Corr
0.92	NWAJX	Nationwide Allianzgi	Pair Corr
0.92	NWAHX	Nationwide Allianzgi	Pair Corr
0.92	NWAGX	Nationwide Allianzgi	Pair Corr

Moving against Nationwide Mutual Fund

0.32	GGFRX	Nationwide Growth	Pair Corr
0.47	NWHDX	Nationwide Bailard Nitive	Pair Corr
0.43	NWADX	Nationwide Loomis All	Pair Corr
0.39	NWFAX	Nationwide Fund Class	Pair Corr
0.38	NWABX	Nationwide Fund6	Pair Corr

Related Correlations Analysis

	RGVCX	RGVBX	RGVAX	USGFX	USGDX	FHNFX	CGTAX	CGTCX
RGVCX		1.0	1.0	1.0	0.97	1.0	1.0	1.0	RGVCX
RGVBX	1.0		1.0	1.0	0.97	1.0	1.0	1.0	RGVBX
RGVAX	1.0	1.0		1.0	0.97	1.0	1.0	1.0	RGVAX
USGFX	1.0	1.0	1.0		0.97	1.0	1.0	1.0	USGFX
USGDX	0.97	0.97	0.97	0.97		0.98	0.97	0.97	USGDX
FHNFX	1.0	1.0	1.0	1.0	0.98		1.0	1.0	FHNFX
CGTAX	1.0	1.0	1.0	1.0	0.97	1.0		1.0	CGTAX
CGTCX	1.0	1.0	1.0	1.0	0.97	1.0	1.0		CGTCX
	RGVCX	RGVBX	RGVAX	USGFX	USGDX	FHNFX	CGTAX	CGTCX

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Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide 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'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
RGVCX	0.24	0.03	0.29	0.88	0.20	(0.30)	0.51	(0.42)	1.38
RGVBX	0.24	0.03	0.29	0.91	0.20	(0.30)	0.52	(0.43)	1.39
RGVAX	0.25	0.03	0.27	0.65	0.22	(0.31)	0.60	(0.43)	1.56
USGFX	0.25	0.03	0.30	0.95	0.20	(0.31)	0.51	(0.42)	1.55
USGDX	0.66	0.05	0.13	0.83	0.72	(0.80)	1.45	(1.37)	3.93
FHNFX	0.22	0.02	0.29	1.24	0.19	(0.26)	0.55	(0.43)	1.23
CGTAX	0.25	0.03	0.28	0.72	0.21	(0.31)	0.60	(0.42)	1.55
CGTCX	0.25	0.03	0.27	0.53	0.23	(0.29)	0.61	(0.43)	1.56

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