Nationwide Bond Correlations

Mutual Funds . USA . 
Fund . Nationwide Bond Fund
NWIBX Fund  USD 8.25  0.02  0.24%   
The current 90-days correlation between Nationwide Bond and Vanguard Total Bond is 0.97 (i.e., Almost no diversification). The correlation of Nationwide Bond 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 Bond Correlation With Market

Good diversification

The correlation between Nationwide Bond Fund and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Bond Fund 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 Bond Fund. 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 labor statistics.

Moving together with Nationwide Mutual Fund

  0.86GCFRX Nationwide InvestorPairCorr
  1.0NBDAX Nationwide BondPairCorr
  0.74GIIAX Nationwide InternationalPairCorr
  0.74GIIRX Nationwide InternationalPairCorr
  0.83GIMCX Nationwide InvestorPairCorr
  0.74GIXIX Nationwide InternationalPairCorr
  0.84NDCAX Nationwide InvestorPairCorr
  0.84NDCSX Nationwide InvestorPairCorr

Moving against Nationwide Mutual Fund

  0.82NUSAX Nationwide GovernmentPairCorr
  0.67GGFRX Nationwide GrowthPairCorr
  0.63NDAAX Nationwide InvestorPairCorr
  0.63NDASX Nationwide InvestorPairCorr
  0.58NWATX Nationwide DestinationPairCorr
  0.57NTDIX Nationwide DestinationPairCorr
  0.57NTDSX Nationwide DestinationPairCorr
  0.57NDMAX Nationwide InvestorPairCorr
  0.56NTDAX Nationwide DestinationPairCorr
  0.56NTDTX Nationwide DestinationPairCorr
  0.56NDMSX Nationwide InvestorPairCorr
  0.52NWAWX Nationwide Gqg QualityPairCorr
  0.52NWAVX Nationwide Gqg QualityPairCorr
  0.52NWAUX Nationwide Gqg QualityPairCorr
  0.39NADMX Nationwide InvestorPairCorr
  0.39NSDMX Nationwide InvestorPairCorr
  0.77NWADX Nationwide Loomis AllPairCorr
  0.75NWABX Nationwide Fund6PairCorr
  0.75NWFAX Nationwide Fund ClassPairCorr
  0.7NWANX Nationwide Bny MellonPairCorr
  0.7NWAMX Nationwide MellonPairCorr
  0.7NWALX Nationwide Bny MellonPairCorr
  0.7NWAPX Nationwide Bny MellonPairCorr
  0.7NWAOX Nationwide Bny MellonPairCorr
  0.68NWAEX Nationwide Bny MellonPairCorr
  0.65NWHDX Nationwide Bailard NitivePairCorr
  0.65NWHHX Nationwide Bailard NitivePairCorr

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 Bond 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 Bond'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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