Nationwide Bond Correlations

Mutual Funds . USA . 
Fund . Nationwide Bond Fund
NWIBX Fund  USD 8.08  0.02  0.25%   
The current 90-days correlation between Nationwide Bond and Intermediate Term Bond Fund is -0.17 (i.e., Good diversification). The correlation of Nationwide Bond 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 Bond Correlation With Market

Significant diversification

The correlation between Nationwide Bond Fund and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Bond Fund 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 Bond Fund. 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 bureau of labor statistics.

Moving together with Nationwide Mutual Fund

  0.63GGEAX Nationwide Global EquityPairCorr
  0.63GGEIX Nationwide Global EquityPairCorr
  0.75GGESX Nationwide Global EquityPairCorr
  0.68NSDMX Nationwide InvestorPairCorr
  0.71NSDCX Nationwide InvestorPairCorr
  0.67NTDAX Nationwide DestinationPairCorr
  0.88GIIAX Nationwide InternationalPairCorr
  0.62GIIRX Nationwide InternationalPairCorr
  0.79GIMCX Nationwide InvestorPairCorr
  0.88GIXIX Nationwide InternationalPairCorr
  0.79NDCAX Nationwide InvestorPairCorr
  0.65NDASX Nationwide InvestorPairCorr
  0.79NDCSX Nationwide InvestorPairCorr
  0.66NDMSX Nationwide InvestorPairCorr
  0.66NDMAX Nationwide InvestorPairCorr
  0.68NWAWX Nationwide Gqg QualityPairCorr
  0.68NWAYX Nationwide Gqg QualityPairCorr
  0.69NWBIX Nationwide DestinationPairCorr
  0.81NWAJX Nationwide AllianzgiPairCorr
  0.68NWAMX Nationwide MellonPairCorr
  0.62NWALX Nationwide Bny MellonPairCorr
  0.67NWARX Nationwide DestinationPairCorr
  0.68NWAPX Nationwide Bny MellonPairCorr
  0.86NWCIX 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 Bond 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 Bond'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.

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