Nationwide Small Correlations

GMSRX Fund

USD 11.45 0.19 1.63%

The current 90-days correlation between Nationwide Small Cap and Nationwide Investor Destinations is 0.28 (i.e., Modest 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

Significant diversification

The correlation between Nationwide Small Cap and DJI is 0.09 (i.e., Significant 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 metropolitan statistical area.

Moving together with Nationwide Mutual Fund

0.62	NADMX	Nationwide Investor	Pair Corr
0.71	GGEAX	Nationwide Global Equity	Pair Corr
0.72	GGEIX	Nationwide Global Equity	Pair Corr
0.93	GGFRX	Nationwide Growth	Pair Corr
0.72	GGESX	Nationwide Global Equity	Pair Corr
0.62	NSDMX	Nationwide Investor	Pair Corr
0.65	NTDAX	Nationwide Destination	Pair Corr
0.65	NTDIX	Nationwide Destination	Pair Corr
0.65	NTDTX	Nationwide Destination	Pair Corr
0.65	NTDSX	Nationwide Destination	Pair Corr
0.84	NUSAX	Nationwide Government	Pair Corr
0.66	NDAAX	Nationwide Investor	Pair Corr
0.66	NDASX	Nationwide Investor	Pair Corr
0.64	NDMSX	Nationwide Investor	Pair Corr
0.64	NDMAX	Nationwide Investor	Pair Corr
0.79	NWAWX	Nationwide Gqg Quality	Pair Corr
0.8	NWAVX	Nationwide Gqg Quality	Pair Corr
0.79	NWAUX	Nationwide Gqg Quality	Pair Corr
0.75	NWATX	Nationwide Destination	Pair Corr
0.79	NWAYX	Nationwide Gqg Quality	Pair Corr
0.88	NWABX	Nationwide Fund6	Pair Corr
0.93	NWAEX	Nationwide Bny Mellon	Pair Corr
0.83	NWADX	Nationwide Loomis All	Pair Corr
0.72	NWANX	Nationwide Bny Mellon	Pair Corr
0.72	NWAMX	Nationwide Mellon	Pair Corr
0.72	NWALX	Nationwide Bny Mellon	Pair Corr

Related Correlations Analysis

	GCFRX	NADCX	NADMX	GGEAX	GGEIX	GGFRX	GGESX	NSDMX	NSDCX	NBDAX
GCFRX		0.96	0.92	0.81	0.81	0.43	0.81	0.92	0.96	0.74	GCFRX
NADCX	0.96		0.99	0.83	0.83	0.54	0.83	0.99	1.0	0.52	NADCX
NADMX	0.92	0.99		0.82	0.82	0.58	0.82	1.0	0.99	0.43	NADMX
GGEAX	0.81	0.83	0.82		1.0	0.73	1.0	0.83	0.83	0.49	GGEAX
GGEIX	0.81	0.83	0.82	1.0		0.74	1.0	0.82	0.83	0.48	GGEIX
GGFRX	0.43	0.54	0.58	0.73	0.74		0.74	0.58	0.54	-0.03	GGFRX
GGESX	0.81	0.83	0.82	1.0	1.0	0.74		0.82	0.83	0.48	GGESX
NSDMX	0.92	0.99	1.0	0.83	0.82	0.58	0.82		0.99	0.43	NSDMX
NSDCX	0.96	1.0	0.99	0.83	0.83	0.54	0.83	0.99		0.53	NSDCX
NBDAX	0.74	0.52	0.43	0.49	0.48	-0.03	0.48	0.43	0.53		NBDAX
	GCFRX	NADCX	NADMX	GGEAX	GGEIX	GGFRX	GGESX	NSDMX	NSDCX	NBDAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

NSDCX	+ 1.0	NADCX
NSDMX	+ 1.0	NADMX
GGEIX	+ 1.0	GGEAX
GGESX	+ 1.0	GGEAX
GGESX	+ 1.0	GGEIX
NADMX	+ 0.99	NADCX

High negative correlations

NBDAX

- 0.03

GGFRX

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
GCFRX	0.29	(0.10)	12.16	0.39	(0.59)	4.99
NADCX	0.42	(0.15)	2.04	0.49	(0.58)	8.83
NADMX	0.55	(0.18)	1.48	0.69	(0.69)	11.96
GGEAX	0.75	(0.13)	2.17	0.94	(1.38)	9.33
GGEIX	0.74	(0.13)	2.37	0.94	(1.36)	9.11
GGFRX	0.61	(0.02)	(3.85)	1.07	(1.30)	6.55
GGESX	0.74	(0.13)	2.65	0.94	(1.36)	9.02
NSDMX	0.55	(0.18)	1.68	0.69	(0.70)	11.95
NSDCX	0.41	(0.15)	2.30	0.49	(0.58)	8.75
NBDAX	0.26	(0.07)	(0.99)	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