Nationwide Destination Correlations

Mutual Funds USA . 
Fund . Nationwide Destination 2060
NWWTX Fund  USD 11.60  0.07  0.61%   
The current 90-days correlation between Nationwide Destination and Nationwide Investor Destinations is -0.1 (i.e., Good diversification). The correlation of Nationwide Destination 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 Destination Correlation With Market

Good diversification

The correlation between Nationwide Destination 2060 and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Destination 2060 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 Destination 2060. 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 estimate.

Moving together with Nationwide Mutual Fund

  0.91GCFRX Nationwide InvestorPairCorr
  0.99NADCX Nationwide InvestorPairCorr
  1.0NADMX Nationwide InvestorPairCorr
  0.91GGEAX Nationwide Global EquityPairCorr
  0.9GGEIX Nationwide Global EquityPairCorr
  0.72GGFRX Nationwide GrowthPairCorr
  0.9GGESX Nationwide Global EquityPairCorr
  0.94NSDMX Nationwide InvestorPairCorr
  0.99NSDCX Nationwide InvestorPairCorr
  1.0NTDAX Nationwide DestinationPairCorr
  1.0NTDIX Nationwide DestinationPairCorr
  1.0NTDTX Nationwide DestinationPairCorr
  1.0NTDSX Nationwide DestinationPairCorr
  0.97GIMCX Nationwide InvestorPairCorr
  0.61GIXIX Nationwide InternationalPairCorr
  0.72NUSAX Nationwide GovernmentPairCorr
  1.0NDAAX Nationwide InvestorPairCorr
  0.92NDCAX Nationwide InvestorPairCorr
  1.0NDASX Nationwide InvestorPairCorr
  0.63NDCSX Nationwide InvestorPairCorr
  1.0NDMSX Nationwide InvestorPairCorr
  1.0NDMAX Nationwide InvestorPairCorr
  0.92NWAWX Nationwide Gqg QualityPairCorr
  0.9NWAVX Nationwide Gqg QualityPairCorr
  0.9NWAUX Nationwide Gqg QualityPairCorr
  1.0NWATX Nationwide DestinationPairCorr
  0.88NWAYX Nationwide Gqg QualityPairCorr
  0.99NWBIX Nationwide DestinationPairCorr
  0.88NWABX Nationwide Fund6PairCorr
  0.7NWAEX Nationwide Bny MellonPairCorr
  0.93NWANX Nationwide Bny MellonPairCorr
  0.9NWAMX Nationwide MellonPairCorr
  0.86NWALX Nationwide Bny MellonPairCorr

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 Destination 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 Destination'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GCFRX  0.28 (0.11) 0.00 (2.04) 0.00 
 0.00 
 0.39 
(0.59)
 4.99 
NADCX  0.41 (0.14) 0.00  2.27  0.00 
 0.00 
 0.49 
(0.58)
 8.83 
NADMX  0.55 (0.17) 0.00  1.72  0.00 
 0.00 
 0.69 
(0.69)
 11.96 
GGEAX  0.75 (0.11) 0.00  4.96  0.00 
 0.00 
 0.98 
(1.38)
 9.33 
GGEIX  0.75 (0.11) 0.00  6.87  0.00 
 0.00 
 1.02 
(1.36)
 9.11 
GGFRX  0.62 (0.03) 0.00 (0.46) 0.00 
 0.00 
 1.09 
(1.30)
 6.55 
GGESX  0.75 (0.11) 0.00  9.36  0.00 
 0.00 
 1.02 
(1.36)
 9.02 
NSDMX  0.54 (0.18) 0.00 (2.08) 0.00 
 0.00 
 0.69 
(0.70)
 11.95 
NSDCX  0.41 (0.14) 0.00  2.52  0.00 
 0.00 
 0.49 
(0.58)
 8.75 
NBDAX  0.25 (0.07) 0.00 (1.38) 0.00 
 0.00 
 0.37 
(0.61)
 1.47 

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