Nationwide Fund Correlations

Mutual Funds . USA . 
Fund . Nationwide Fund Class
NWFAX Fund  USD 31.15  0.50  1.63%   
The current 90-days correlation between Nationwide Fund Class and Transamerica Emerging Markets is 0.11 (i.e., Average diversification). The correlation of Nationwide Fund 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 Fund Correlation With Market

Weak diversification

The correlation between Nationwide Fund Class and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Fund Class 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 Fund Class. 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 nation.

Moving together with Nationwide Mutual Fund

  0.68NADCX Nationwide InvestorPairCorr
  0.74NADMX Nationwide InvestorPairCorr
  0.88GGEAX Nationwide Global EquityPairCorr
  0.87GGEIX Nationwide Global EquityPairCorr
  0.95GGFRX Nationwide GrowthPairCorr
  0.87GGESX Nationwide Global EquityPairCorr
  0.73NSDMX Nationwide InvestorPairCorr
  0.67NSDCX Nationwide InvestorPairCorr
  0.76NTDAX Nationwide DestinationPairCorr
  0.76NTDIX Nationwide DestinationPairCorr
  0.76NTDTX Nationwide DestinationPairCorr
  0.76NDAAX Nationwide InvestorPairCorr
  0.77NDASX Nationwide InvestorPairCorr
  0.76NDMSX Nationwide InvestorPairCorr
  0.76NDMAX Nationwide InvestorPairCorr
  0.89NWAWX Nationwide Gqg QualityPairCorr
  0.88NWAVX Nationwide Gqg QualityPairCorr
  0.89NWAUX Nationwide Gqg QualityPairCorr
  0.85NWATX Nationwide DestinationPairCorr
  0.88NWAYX Nationwide Gqg QualityPairCorr
  0.65NWBIX Nationwide DestinationPairCorr
  1.0NWABX Nationwide Fund6PairCorr
  0.93NWAEX Nationwide Bny MellonPairCorr
  0.98NWADX Nationwide Loomis AllPairCorr
  0.65NWANX Nationwide Bny MellonPairCorr
  0.74NWAMX Nationwide MellonPairCorr
  0.65NWALX Nationwide Bny MellonPairCorr

Moving against Nationwide Mutual Fund

  0.59NUSAX Nationwide GovernmentPairCorr
  0.43GIXIX Nationwide InternationalPairCorr
  0.42GIIAX Nationwide InternationalPairCorr
  0.42GIIRX Nationwide InternationalPairCorr
  0.42NWAJX Nationwide AllianzgiPairCorr
  0.42NWAHX Nationwide AllianzgiPairCorr
  0.42NWAGX Nationwide AllianzgiPairCorr
  0.42NWAKX Nationwide AllianzgiPairCorr
  0.39NWCIX Nationwide E PlusPairCorr
  0.39NWCSX Nationwide E PlusPairCorr
  0.39NWCPX Nationwide E PlusPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Fund 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 Fund'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.

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
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY