Nationwide Small Correlations

GMRIX Fund

USD 13.38 0.07 0.52%

The current 90-days correlation between Nationwide Small Cap and Pace Smallmedium Value is 0.95 (i.e., Almost no 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

Very poor diversification

The correlation between Nationwide Small Cap and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Small Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Nationwide Small Cap. 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

0.8	NADMX	Nationwide Investor	Pair Corr
0.76	GGEAX	Nationwide Global Equity	Pair Corr
0.77	GGEIX	Nationwide Global Equity	Pair Corr
0.87	GGFRX	Nationwide Growth	Pair Corr
0.76	GGESX	Nationwide Global Equity	Pair Corr
0.8	NSDMX	Nationwide Investor	Pair Corr
0.63	NSDCX	Nationwide Investor	Pair Corr
0.9	NTDAX	Nationwide Destination	Pair Corr
0.83	NTDTX	Nationwide Destination	Pair Corr
0.91	NTDSX	Nationwide Destination	Pair Corr
0.85	NUSAX	Nationwide Government	Pair Corr
0.87	NDAAX	Nationwide Investor	Pair Corr
0.94	NDASX	Nationwide Investor	Pair Corr
0.92	NDMSX	Nationwide Investor	Pair Corr
0.92	NDMAX	Nationwide Investor	Pair Corr
0.75	NWAWX	Nationwide Gqg Quality	Pair Corr
0.75	NWAVX	Nationwide Gqg Quality	Pair Corr
0.77	NWATX	Nationwide Destination	Pair Corr
0.75	NWAYX	Nationwide Gqg Quality	Pair Corr
0.87	NWAEX	Nationwide Bny Mellon	Pair Corr
0.87	NWADX	Nationwide Loomis All	Pair Corr
0.89	NWANX	Nationwide Bny Mellon	Pair Corr
0.92	NWAMX	Nationwide Mellon	Pair Corr
0.89	NWALX	Nationwide Bny Mellon	Pair Corr
0.84	NWASX	Nationwide Destination	Pair Corr
0.84	NWARX	Nationwide Destination	Pair Corr
0.91	NWAQX	Nationwide Destination	Pair Corr
0.89	NWAPX	Nationwide Bny Mellon	Pair Corr
0.89	NWAOX	Nationwide Bny Mellon	Pair Corr

Moving against Nationwide Mutual Fund

0.7	GIIRX	Nationwide International	Pair Corr
0.69	GIIAX	Nationwide International	Pair Corr
0.65	GIXIX	Nationwide International	Pair Corr
0.53	NBDAX	Nationwide Bond	Pair Corr
0.66	NWCSX	Nationwide E Plus	Pair Corr
0.66	NWCPX	Nationwide E Plus	Pair Corr
0.62	NWAGX	Nationwide Allianzgi	Pair Corr
0.62	NWAKX	Nationwide Allianzgi	Pair Corr
0.61	NWAJX	Nationwide Allianzgi	Pair Corr
0.6	NWAHX	Nationwide Allianzgi	Pair Corr
0.48	NWCIX	Nationwide E Plus	Pair Corr

Related Correlations Analysis

	PEVAX	NESGX	ASCGX	CCMSX	CIPNX	SCYVX	MSSGX
PEVAX		0.89	0.94	0.49	0.93	0.94	0.89	PEVAX
NESGX	0.89		0.86	0.39	0.87	0.85	0.81	NESGX
ASCGX	0.94	0.86		0.48	0.91	0.97	0.93	ASCGX
CCMSX	0.49	0.39	0.48		0.31	0.42	0.4	CCMSX
CIPNX	0.93	0.87	0.91	0.31		0.94	0.94	CIPNX
SCYVX	0.94	0.85	0.97	0.42	0.94		0.93	SCYVX
MSSGX	0.89	0.81	0.93	0.4	0.94	0.93		MSSGX
	PEVAX	NESGX	ASCGX	CCMSX	CIPNX	SCYVX	MSSGX

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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
PEVAX	0.73	0.03	0.07	0.12	0.48	(0.92)	1.78	(1.13)	5.73
NESGX	1.24	0.03	0.06	0.11	1.12	(1.53)	2.49	(2.25)	6.76
ASCGX	1.03	0.19	0.12	0.54	0.92	(1.17)	2.24	(1.88)	6.65
CCMSX	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.14
CIPNX	0.81	0.07	0.11	0.14	0.72	(0.89)	1.72	(1.49)	7.70
SCYVX	0.85	0.18	0.11	1.10	0.63	(1.02)	1.95	(1.44)	7.36
MSSGX	1.44	0.58	0.38	3.50	0.82	(1.84)	3.46	(1.71)	7.23

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