Nationwide Gqg Correlations

NWAUX Fund

USD 18.11 0.10 0.56%

The current 90-days correlation between Nationwide Gqg Quality and Dunham High Yield is 0.24 (i.e., Modest diversification). The correlation of Nationwide Gqg 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 Gqg Correlation With Market

Very weak diversification

The correlation between Nationwide Gqg Quality and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Gqg Quality 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 Gqg Quality. 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 employment.

Moving together with Nationwide Mutual Fund

0.88	GGFRX	Nationwide Growth	Pair Corr
0.74	GGESX	Nationwide Global Equity	Pair Corr
0.82	NTDIX	Nationwide Destination	Pair Corr
0.82	NTDSX	Nationwide Destination	Pair Corr
0.77	NUSAX	Nationwide Government	Pair Corr
0.85	NDMSX	Nationwide Investor	Pair Corr
1.0	NWAWX	Nationwide Gqg Quality	Pair Corr
0.82	NWATX	Nationwide Destination	Pair Corr
0.73	NWBIX	Nationwide Destination	Pair Corr
0.88	NWAEX	Nationwide Bny Mellon	Pair Corr
0.86	NWADX	Nationwide Loomis All	Pair Corr
0.82	NWAQX	Nationwide Destination	Pair Corr
0.87	NWHDX	Nationwide Bailard Nitive	Pair Corr
0.87	NWHHX	Nationwide Bailard Nitive	Pair Corr
0.91	NWHVX	Nationwide Geneva Mid	Pair Corr
0.89	NWHZX	Nationwide Geneva Small	Pair Corr
0.74	NWIAX	Nationwide Destination	Pair Corr
0.69	NWGPX	Nationwide Highmark Small	Pair Corr
0.69	NWGSX	Nationwide Highmark Small	Pair Corr
0.69	NWJFX	Nationwide Ziegler Nyse	Pair Corr
0.7	NWJEX	Nationwide Ziegler Nyse	Pair Corr

Moving against Nationwide Mutual Fund

0.59	GIIRX	Nationwide International	Pair Corr
0.58	GIIAX	Nationwide International	Pair Corr
0.58	GIXIX	Nationwide International	Pair Corr
0.54	NWAJX	Nationwide Allianzgi	Pair Corr
0.54	NWAHX	Nationwide Allianzgi	Pair Corr
0.54	NWCSX	Nationwide E Plus	Pair Corr
0.53	NWCIX	Nationwide E Plus	Pair Corr
0.52	NBDAX	Nationwide Bond	Pair Corr
0.63	NWHJX	Nationwide Bailard	Pair Corr
0.58	NWXPX	Nationwide International	Pair Corr
0.52	NWIBX	Nationwide Bond	Pair Corr
0.52	NWXSX	Nationwide International	Pair Corr
0.51	NWJGX	Nationwide Highmark Bond	Pair Corr

Related Correlations Analysis

	DAHYX	ARTFX	ACHFX	LHYOX	CYBAX	GMOZX	BHYRX
DAHYX		0.89	0.93	0.93	0.9	0.95	0.92	DAHYX
ARTFX	0.89		0.94	0.97	0.83	0.84	0.9	ARTFX
ACHFX	0.93	0.94		0.98	0.95	0.92	0.98	ACHFX
LHYOX	0.93	0.97	0.98		0.91	0.89	0.95	LHYOX
CYBAX	0.9	0.83	0.95	0.91		0.89	0.98	CYBAX
GMOZX	0.95	0.84	0.92	0.89	0.89		0.91	GMOZX
BHYRX	0.92	0.9	0.98	0.95	0.98	0.91		BHYRX
	DAHYX	ARTFX	ACHFX	LHYOX	CYBAX	GMOZX	BHYRX

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Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Gqg 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 Gqg'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DAHYX	0.11	0.01	(0.70)	0.24	(0.15)	0.23	(0.23)	0.57
ARTFX	0.12	0.03	(0.64)	0.58	(0.21)	0.33	(0.22)	1.01
ACHFX	0.13	0.01	(0.58)	0.33	(0.20)	0.35	(0.23)	0.93
LHYOX	0.13	0.02	(0.50)	0.52	(0.21)	0.31	(0.16)	0.93
CYBAX	0.10	0.00	(0.88)	0.21	(0.13)	0.24	(0.16)	0.73
GMOZX	0.13	0.01	(0.53)	0.18	(0.18)	0.28	(0.33)	0.72
BHYRX	0.12	0.01	(0.57)	0.28	(0.21)	0.28	(0.28)	0.85

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