Nationwide Bailard Correlations

NWHOX Fund

USD 26.99 0.51 1.93%

The current 90-days correlation between Nationwide Bailard and Veea Inc is -0.09 (i.e., Good diversification). The correlation of Nationwide Bailard 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 Bailard Correlation With Market

Good diversification

The correlation between Nationwide Bailard Technology and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Bailard Technology 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 Bailard Technology. 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 persons.

Moving against Nationwide Mutual Fund

0.51	WGNR	Wegener	Pair Corr
0.42	VEEA	Veea Inc Symbol Change	Pair Corr
0.42	VIDE	Video Display	Pair Corr
0.39	WEBB	Web Global Holdings	Pair Corr
0.36	EXOD	Exodus Movement,	Pair Corr
0.32	VVPR	VivoPower International	Pair Corr
0.51	LTCH	Latch Inc	Pair Corr
0.5	HPAIW	Helport AI Limited	Pair Corr
0.34	ZENA	ZenaTech	Pair Corr
0.69	MIND	Mind Technology	Pair Corr
0.37	ZEOWW	Zeo Energy Corp Symbol Change	Pair Corr

Related Correlations Analysis

	VEEA	VVPR	EXOD	GCFRX	NADCX	NADMX	GGEAX	GGEIX	GGFRX	GGESX
VEEA		-0.24	-0.22	-0.08	-0.2	-0.25	-0.27	-0.27	-0.59	-0.27	VEEA
VVPR	-0.24		0.72	-0.46	-0.46	-0.45	-0.44	-0.43	0.05	-0.43	VVPR
EXOD	-0.22	0.72		-0.53	-0.46	-0.43	-0.54	-0.54	-0.05	-0.54	EXOD
GCFRX	-0.08	-0.46	-0.53		0.98	0.97	0.89	0.89	0.63	0.89	GCFRX
NADCX	-0.2	-0.46	-0.46	0.98		1.0	0.89	0.89	0.68	0.89	NADCX
NADMX	-0.25	-0.45	-0.43	0.97	1.0		0.89	0.89	0.69	0.89	NADMX
GGEAX	-0.27	-0.44	-0.54	0.89	0.89	0.89		1.0	0.81	1.0	GGEAX
GGEIX	-0.27	-0.43	-0.54	0.89	0.89	0.89	1.0		0.82	1.0	GGEIX
GGFRX	-0.59	0.05	-0.05	0.63	0.68	0.69	0.81	0.82		0.82	GGFRX
GGESX	-0.27	-0.43	-0.54	0.89	0.89	0.89	1.0	1.0	0.82		GGESX
	VEEA	VVPR	EXOD	GCFRX	NADCX	NADMX	GGEAX	GGEIX	GGFRX	GGESX

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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

NADMX	+ 1.0	NADCX
GGEIX	+ 1.0	GGEAX
GGESX	+ 1.0	GGEAX
GGESX	+ 1.0	GGEIX
NADCX	+ 0.98	GCFRX
NADMX	+ 0.97	GCFRX

High negative correlations

GGFRX	- 0.59	VEEA
GGESX	- 0.54	EXOD
GGEIX	- 0.54	EXOD
GGEAX	- 0.54	EXOD
GCFRX	- 0.53	EXOD
NADCX	- 0.46	EXOD

Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Bailard 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 Bailard'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
VEEA	5.40	(0.34)	0.00	0.15	0.00	0.00	9.54	(10.26)	31.60
VVPR	6.17	1.63	0.18	(2.64)	7.63	(8.14)	16.30	(9.64)	112.34
EXOD	7.13	1.71	0.17	(1.10)	7.03	(10.89)	21.55	(16.54)	56.37
GCFRX	0.28	(0.11)	0.00	7.84	0.00	0.00	0.39	(0.59)	4.99
NADCX	0.41	(0.15)	0.00	2.37	0.00	0.00	0.49	(0.58)	8.83
NADMX	0.54	(0.18)	0.00	1.80	0.00	0.00	0.69	(0.69)	11.96
GGEAX	0.75	(0.12)	0.00	5.21	0.00	0.00	0.98	(1.38)	9.33
GGEIX	0.74	(0.12)	0.00	6.95	0.00	0.00	1.02	(1.36)	9.11
GGFRX	0.62	(0.03)	0.00	(0.45)	0.00	0.00	1.09	(1.30)	6.55
GGESX	0.74	(0.12)	0.00	9.61	0.00	0.00	1.02	(1.36)	9.02

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