Nationwide Inflation-protec Correlations

Mutual Funds . USA . 
Fund . Nationwide Inflation Protected Securities
NWXNX Fund  USD 8.84  0.01  0.11%   
The current 90-days correlation between Nationwide Inflation-protec and Nationwide Investor Destinations is 0.47 (i.e., Very weak diversification). The correlation of Nationwide Inflation-protec 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 Inflation-protec Correlation With Market

Average diversification

The correlation between Nationwide Inflation Protected and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Inflation Protected 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 Inflation Protected Securities. 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 board of governors.

Moving together with Nationwide Mutual Fund

  0.81GCFRX Nationwide InvestorPairCorr
  0.71NADCX Nationwide InvestorPairCorr
  0.67NADMX Nationwide InvestorPairCorr
  0.71GGEAX Nationwide Global EquityPairCorr
  0.71GGEIX Nationwide Global EquityPairCorr
  0.71GGESX Nationwide Global EquityPairCorr
  0.64NSDMX Nationwide InvestorPairCorr
  0.71NSDCX Nationwide InvestorPairCorr
  0.94NBDAX Nationwide BondPairCorr
  0.66NTDAX Nationwide DestinationPairCorr
  0.65NTDIX Nationwide DestinationPairCorr
  0.66NTDTX Nationwide DestinationPairCorr
  0.65NTDSX Nationwide DestinationPairCorr
  0.92GIIAX Nationwide InternationalPairCorr
  0.9GIIRX Nationwide InternationalPairCorr
  0.79GIMCX Nationwide InvestorPairCorr
  0.92GIXIX Nationwide InternationalPairCorr
  0.64NDAAX Nationwide InvestorPairCorr
  0.8NDCAX Nationwide InvestorPairCorr
  0.64NDASX Nationwide InvestorPairCorr
  0.81NDCSX Nationwide InvestorPairCorr
  0.65NDMSX Nationwide InvestorPairCorr
  0.65NDMAX Nationwide InvestorPairCorr
  0.62NWAWX Nationwide Gqg QualityPairCorr
  0.63NWAVX Nationwide Gqg QualityPairCorr
  0.63NWAUX Nationwide Gqg QualityPairCorr
  0.62NWAYX Nationwide Gqg QualityPairCorr
  0.7NWBIX Nationwide DestinationPairCorr
  0.85NWAJX Nationwide AllianzgiPairCorr
  0.85NWAHX Nationwide AllianzgiPairCorr
  0.67NWANX Nationwide Bny MellonPairCorr
  0.67NWAMX Nationwide MellonPairCorr
  0.64NWALX Nationwide Bny MellonPairCorr
  0.85NWAKX Nationwide AllianzgiPairCorr

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 Inflation-protec 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 Inflation-protec'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 

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