Nationwide Bailard Correlations

Mutual Funds . USA . 
Fund . Nationwide Bailard International
NWHLX Fund  USD 9.77  0.06  0.62%   
The current 90-days correlation between Nationwide Bailard and Artisan Small Cap is 0.47 (i.e., Very weak diversification). The correlation of Nationwide Bailard 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 Bailard Correlation With Market

Significant diversification

The correlation between Nationwide Bailard Internation and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Bailard Internation 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 Bailard International. 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 bureau of economic analysis.

Moving together with Nationwide Mutual Fund

  0.69NBDAX Nationwide BondPairCorr
  0.99GIIAX Nationwide InternationalPairCorr
  0.93GIIRX Nationwide InternationalPairCorr
  0.93GIXIX Nationwide InternationalPairCorr
  0.92NWAJX Nationwide AllianzgiPairCorr
  0.92NWAHX Nationwide AllianzgiPairCorr
  0.92NWAGX Nationwide AllianzgiPairCorr
  0.92NWAKX Nationwide AllianzgiPairCorr

Moving against Nationwide Mutual Fund

  0.68NUSAX Nationwide GovernmentPairCorr
  0.46GGFRX Nationwide GrowthPairCorr
  0.43NDAAX Nationwide InvestorPairCorr
  0.43NDASX Nationwide InvestorPairCorr
  0.34NTDIX Nationwide DestinationPairCorr
  0.34NTDSX Nationwide DestinationPairCorr
  0.33NTDAX Nationwide DestinationPairCorr
  0.32NTDTX Nationwide DestinationPairCorr
  0.63NWADX Nationwide Loomis AllPairCorr
  0.6NWANX Nationwide Bny MellonPairCorr
  0.6NWAMX Nationwide MellonPairCorr
  0.6NWAPX Nationwide Bny MellonPairCorr
  0.6NWAOX Nationwide Bny MellonPairCorr
  0.57NWALX Nationwide Bny MellonPairCorr
  0.53NWABX Nationwide Fund6PairCorr
  0.5NWAEX Nationwide Bny MellonPairCorr
  0.48NWAVX Nationwide Gqg QualityPairCorr
  0.48NWAUX Nationwide Gqg QualityPairCorr
  0.38NDMSX Nationwide InvestorPairCorr
  0.35NWASX Nationwide DestinationPairCorr
  0.34NWAQX Nationwide DestinationPairCorr
  0.33NWARX Nationwide DestinationPairCorr
  0.32NDMAX Nationwide InvestorPairCorr

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 Bailard 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 Bailard'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.

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