Nationwide Global Correlations

Mutual Funds . USA . 
Fund . Nationwide Global Equity
GGESX Fund  USD 24.65  0.11  0.44%   
The current 90-days correlation between Nationwide Global Equity and American Mutual Fund is 0.84 (i.e., Very poor diversification). The correlation of Nationwide Global 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 Global Correlation With Market

Significant diversification

The correlation between Nationwide Global Equity 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 Global Equity 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 Global Equity. 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 state.

Moving together with Nationwide Mutual Fund

  0.86NADCX Nationwide InvestorPairCorr
  0.93NADMX Nationwide InvestorPairCorr
  1.0GGEAX Nationwide Global EquityPairCorr
  1.0GGEIX Nationwide Global EquityPairCorr
  0.82GGFRX Nationwide GrowthPairCorr
  0.82NSDMX Nationwide InvestorPairCorr
  0.73NSDCX Nationwide InvestorPairCorr
  0.9NTDAX Nationwide DestinationPairCorr
  0.9NTDIX Nationwide DestinationPairCorr
  0.8NTDTX Nationwide DestinationPairCorr
  0.9NTDSX Nationwide DestinationPairCorr
  0.77NDAAX Nationwide InvestorPairCorr
  0.86NDASX Nationwide InvestorPairCorr
  0.89NDMSX Nationwide InvestorPairCorr
  0.89NDMAX Nationwide InvestorPairCorr
  0.7NWAWX Nationwide Gqg QualityPairCorr
  0.69NWAVX Nationwide Gqg QualityPairCorr
  0.7NWAUX Nationwide Gqg QualityPairCorr
  0.8NWATX Nationwide DestinationPairCorr
  0.7NWAYX Nationwide Gqg QualityPairCorr
  0.82NWBIX Nationwide DestinationPairCorr
  0.7NWABX Nationwide Fund6PairCorr
  0.74NWAEX Nationwide Bny MellonPairCorr
  0.66NWANX Nationwide Bny MellonPairCorr
  0.7NWAMX Nationwide MellonPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Global 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 Global'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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