Nationwide Geneva Correlations

NWKDX Fund

USD 86.61 0.99 1.16%

The current 90-days correlation between Nationwide Geneva Small and Fidelity Advisor Financial is 0.15 (i.e., Average diversification). The correlation of Nationwide Geneva 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 Geneva Correlation With Market

Average diversification

The correlation between Nationwide Geneva Small 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 Geneva Small 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 Geneva Small. 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 unemployment.

Moving together with Nationwide Mutual Fund

0.62	NADCX	Nationwide Investor	Pair Corr
0.64	NADMX	Nationwide Investor	Pair Corr
0.7	GGEAX	Nationwide Global Equity	Pair Corr
0.71	GGEIX	Nationwide Global Equity	Pair Corr
0.93	GGFRX	Nationwide Growth	Pair Corr
0.71	GGESX	Nationwide Global Equity	Pair Corr
0.61	NSDMX	Nationwide Investor	Pair Corr
0.62	NSDCX	Nationwide Investor	Pair Corr
0.66	NTDAX	Nationwide Destination	Pair Corr
0.66	NTDIX	Nationwide Destination	Pair Corr
0.66	NTDTX	Nationwide Destination	Pair Corr
0.66	NTDSX	Nationwide Destination	Pair Corr
0.83	NUSAX	Nationwide Government	Pair Corr
0.67	NDAAX	Nationwide Investor	Pair Corr
0.67	NDASX	Nationwide Investor	Pair Corr
0.65	NDMSX	Nationwide Investor	Pair Corr
0.62	NDMAX	Nationwide Investor	Pair Corr
0.68	NWAWX	Nationwide Gqg Quality	Pair Corr
0.77	NWAVX	Nationwide Gqg Quality	Pair Corr
0.77	NWAUX	Nationwide Gqg Quality	Pair Corr
0.74	NWATX	Nationwide Destination	Pair Corr
0.68	NWAYX	Nationwide Gqg Quality	Pair Corr
0.79	NWABX	Nationwide Fund6	Pair Corr
0.94	NWAEX	Nationwide Bny Mellon	Pair Corr
0.87	NWADX	Nationwide Loomis All Potential Growth	Pair Corr
0.68	NWANX	Nationwide Bny Mellon	Pair Corr
0.69	NWAMX	Nationwide Mellon	Pair Corr
0.68	NWALX	Nationwide Bny Mellon	Pair Corr

Related Correlations Analysis

	FIKBX	IAAEX	BTO	FNPSX	FTIXX	XFINX	RPFGX
FIKBX		0.55	0.93	0.92	0.0	0.65	0.88	FIKBX
IAAEX	0.55		0.38	0.42	0.0	0.25	0.63	IAAEX
BTO	0.93	0.38		0.97	0.0	0.68	0.91	BTO
FNPSX	0.92	0.42	0.97		0.0	0.59	0.93	FNPSX
FTIXX	0.0	0.0	0.0	0.0		0.0	0.0	FTIXX
XFINX	0.65	0.25	0.68	0.59	0.0		0.54	XFINX
RPFGX	0.88	0.63	0.91	0.93	0.0	0.54		RPFGX
	FIKBX	IAAEX	BTO	FNPSX	FTIXX	XFINX	RPFGX

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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

FNPSX	+ 0.97	BTO
BTO	+ 0.93	FIKBX
RPFGX	+ 0.93	FNPSX
FNPSX	+ 0.92	FIKBX
RPFGX	+ 0.91	BTO
RPFGX	+ 0.88	FIKBX

High negative correlations

RPFGX	- 0.0	FTIXX
XFINX	- 0.0	FTIXX
FTIXX	- 0.0	FNPSX
FTIXX	- 0.0	BTO
FTIXX	- 0.0	IAAEX
FTIXX	- 0.0	FIKBX

Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Geneva 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 Geneva'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
FIKBX	0.84	0.06	0.04	(0.72)	1.05	(0.93)	1.88	(1.41)	11.23
IAAEX	0.67	(0.16)	0.00	(6.75)	0.00	0.00	1.02	(0.98)	11.37
BTO	1.01	0.15	0.10	0.48	1.17	(1.04)	2.13	(1.71)	13.54
FNPSX	1.11	0.13	0.08	0.52	1.28	(1.21)	2.49	(2.10)	13.76
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XFINX	0.12	0.00	(0.03)	0.24	0.20	(0.15)	0.21	(0.21)	1.14
RPFGX	0.79	0.05	0.03	0.29	1.08	(0.85)	1.33	(1.40)	10.37

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