Nationwide Correlations

NWCIX Fund

USD 9.00 0.02 0.22%

The current 90-days correlation between Nationwide E Plus and Volumetric Fund Volumetric is -0.18 (i.e., Good diversification). The correlation of Nationwide 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 Correlation With Market

Good diversification

The correlation between Nationwide E Plus and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide E Plus 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 E Plus. 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

0.84	GCFRX	Nationwide Investor	Pair Corr
1.0	NBDAX	Nationwide Bond	Pair Corr
0.76	GIIAX	Nationwide International	Pair Corr
0.76	GIIRX	Nationwide International	Pair Corr
0.81	GIMCX	Nationwide Investor	Pair Corr
0.76	GIXIX	Nationwide International	Pair Corr
1.0	NWCSX	Nationwide E Plus	Pair Corr
1.0	NWIBX	Nationwide Bond	Pair Corr

Moving against Nationwide Mutual Fund

0.84	NUSAX	Nationwide Government	Pair Corr
0.69	GGFRX	Nationwide Growth	Pair Corr
0.59	NWATX	Nationwide Destination	Pair Corr
0.58	NTDIX	Nationwide Destination	Pair Corr
0.58	NTDSX	Nationwide Destination	Pair Corr
0.58	NDMSX	Nationwide Investor	Pair Corr
0.58	NDMAX	Nationwide Investor	Pair Corr
0.54	NWAWX	Nationwide Gqg Quality	Pair Corr
0.53	NWAYX	Nationwide Gqg Quality	Pair Corr
0.79	NWADX	Nationwide Loomis All	Pair Corr
0.76	NWABX	Nationwide Fund6	Pair Corr
0.72	NWAPX	Nationwide Bny Mellon	Pair Corr
0.69	NWAEX	Nationwide Bny Mellon	Pair Corr
0.67	NWHDX	Nationwide Bailard Nitive	Pair Corr
0.67	NWHHX	Nationwide Bailard Nitive	Pair Corr
0.67	NWHGX	Nationwide Bailard Nitive	Pair Corr
0.67	NWHFX	Nationwide Bailard Nitive	Pair Corr
0.59	NWAQX	Nationwide Destination	Pair Corr
0.68	NWHVX	Nationwide Geneva Mid	Pair Corr
0.68	NWKAX	Nationwide Geneva Mid	Pair Corr
0.66	NWKCX	Nationwide Geneva Small	Pair Corr
0.65	NWHZX	Nationwide Geneva Small	Pair Corr

Related Correlations Analysis

	VOLMX	FABXX	TQAAX	CPUCX	WRLDX	BBIIX	IAADX	LTFXX
VOLMX		-0.38	0.96	-0.72	0.79	-0.39	-0.19	0.19	VOLMX
FABXX	-0.38		-0.38	0.27	-0.28	-0.06	0.07	-0.03	FABXX
TQAAX	0.96	-0.38		-0.56	0.88	-0.23	-0.04	0.12	TQAAX
CPUCX	-0.72	0.27	-0.56		-0.34	0.78	0.7	-0.01	CPUCX
WRLDX	0.79	-0.28	0.88	-0.34		0.04	0.17	0.09	WRLDX
BBIIX	-0.39	-0.06	-0.23	0.78	0.04		0.75	0.19	BBIIX
IAADX	-0.19	0.07	-0.04	0.7	0.17	0.75		0.17	IAADX
LTFXX	0.19	-0.03	0.12	-0.01	0.09	0.19	0.17		LTFXX
	VOLMX	FABXX	TQAAX	CPUCX	WRLDX	BBIIX	IAADX	LTFXX

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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

TQAAX	+ 0.96	VOLMX
WRLDX	+ 0.88	TQAAX
WRLDX	+ 0.79	VOLMX
BBIIX	+ 0.78	CPUCX
IAADX	+ 0.75	BBIIX
IAADX	+ 0.7	CPUCX

High negative correlations

CPUCX	- 0.72	VOLMX
CPUCX	- 0.56	TQAAX
BBIIX	- 0.39	VOLMX
TQAAX	- 0.38	FABXX
FABXX	- 0.38	VOLMX
WRLDX	- 0.34	CPUCX

Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide 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'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
VOLMX	0.60	0.00	(0.01)	0.13	0.58	(0.70)	1.14	(1.35)	4.49
FABXX	2.82	(0.01)	0.00	0.15	0.00	0.00	6.22	(5.95)	21.73
TQAAX	0.81	(0.03)	0.00	0.10	0.98	(0.83)	1.75	(1.51)	6.10
CPUCX	0.25	(0.01)	0.00	0.33	0.00	0.00	0.44	(0.54)	1.29
WRLDX	0.49	(0.02)	(0.13)	0.09	0.45	(0.55)	0.92	(0.97)	2.75
BBIIX	0.12	0.01	(0.43)	(0.06)	0.14	(0.18)	0.29	(0.29)	1.17
IAADX	0.16	0.00	(0.66)	(0.16)	0.13	(0.22)	0.32	(0.32)	1.19
LTFXX	0.03	0.00	0.00	0.48	0.00	0.00	0.00	0.00	1.01

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