Nationwide Small Correlations

NWSIX Fund

USD 13.50 0.03 0.22%

The current 90-days correlation between Nationwide Small Pany and Rbb Fund is 0.72 (i.e., Poor diversification). The correlation of Nationwide Small 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 Small Correlation With Market

Average diversification

The correlation between Nationwide Small Pany 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 Small Pany 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 Small Pany. 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 gross domestic product.

Moving together with Nationwide Mutual Fund

0.61	GCFRX	Nationwide Investor	Pair Corr
0.62	GIMCX	Nationwide Investor	Pair Corr
0.62	NDCSX	Nationwide Investor	Pair Corr
0.67	NWAVX	Nationwide Gqg Quality	Pair Corr
0.67	NWAYX	Nationwide Gqg Quality	Pair Corr
0.88	NWAEX	Nationwide Bny Mellon	Pair Corr
0.68	NWHOX	Nationwide Bailard	Pair Corr
0.7	NWHTX	Nationwide Bailard	Pair Corr
0.66	NWGSX	Nationwide Highmark Small	Pair Corr
0.81	NWKAX	Nationwide Geneva Mid	Pair Corr
0.63	NWWLX	Nationwide Investor	Pair Corr
0.62	NWWRX	Nationwide Destination	Pair Corr
0.62	NWWVX	Nationwide Destination	Pair Corr
0.62	NWWUX	Nationwide Destination	Pair Corr
0.62	NWWTX	Nationwide Destination	Pair Corr
0.89	GMRAX	Nationwide Small Cap	Pair Corr
0.73	GMXAX	Nationwide Mid Cap	Pair Corr
0.88	MUIGX	Nationwide Growth	Pair Corr
0.92	GRISX	Nationwide Sp 500	Pair Corr
0.92	GRMAX	Nationwide Sp 500	Pair Corr
0.88	VSGAX	Vanguard Small Cap	Pair Corr
0.88	VSGIX	Vanguard Small Cap	Pair Corr

Related Correlations Analysis

	OPTCX	MFTFX	TMVAX	WRLDX	ADOIX	IQRIX	ABVCX	VOLMX
OPTCX		0.73	0.1	-0.2	-0.28	-0.79	-0.31	-0.09	OPTCX
MFTFX	0.73		-0.19	-0.39	-0.37	-0.71	-0.51	-0.34	MFTFX
TMVAX	0.1	-0.19		0.88	0.71	0.41	0.79	0.91	TMVAX
WRLDX	-0.2	-0.39	0.88		0.67	0.68	0.94	0.86	WRLDX
ADOIX	-0.28	-0.37	0.71	0.67		0.55	0.62	0.88	ADOIX
IQRIX	-0.79	-0.71	0.41	0.68	0.55		0.74	0.52	IQRIX
ABVCX	-0.31	-0.51	0.79	0.94	0.62	0.74		0.8	ABVCX
VOLMX	-0.09	-0.34	0.91	0.86	0.88	0.52	0.8		VOLMX
	OPTCX	MFTFX	TMVAX	WRLDX	ADOIX	IQRIX	ABVCX	VOLMX

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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

ABVCX	+ 0.94	WRLDX
VOLMX	+ 0.91	TMVAX
WRLDX	+ 0.88	TMVAX
VOLMX	+ 0.88	ADOIX
VOLMX	+ 0.86	WRLDX
VOLMX	+ 0.8	ABVCX

High negative correlations

IQRIX	- 0.79	OPTCX
IQRIX	- 0.71	MFTFX
ABVCX	- 0.51	MFTFX
WRLDX	- 0.39	MFTFX
ADOIX	- 0.37	MFTFX
VOLMX	- 0.34	MFTFX

Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Small 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 Small'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
OPTCX	0.14	0.02	0.01	0.47	0.00	(0.20)	0.31	(0.31)	1.35
MFTFX	0.96	0.07	0.03	(1.78)	1.35	(0.92)	1.70	(2.06)	5.15
TMVAX	1.00	(0.07)	0.00	(0.24)	0.00	0.00	1.95	(2.11)	14.59
WRLDX	0.53	(0.08)	0.00	(0.17)	0.00	0.00	0.89	(1.29)	4.44
ADOIX	0.82	(0.27)	0.00	(0.46)	0.00	0.00	1.03	(1.23)	19.61
IQRIX	0.77	(0.26)	0.00	(1.67)	0.00	0.00	1.24	(1.85)	6.61
ABVCX	0.71	(0.15)	0.00	(0.35)	0.00	0.00	1.05	(1.02)	13.38
VOLMX	0.69	(0.09)	0.00	(0.17)	0.00	0.00	1.05	(1.35)	10.00

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