Nationwide Mid Correlations

Mutual Funds . USA . 
Fund . Nationwide Mid Cap
GMXIX Fund  USD 19.61  0.01  0.05%   
The current 90-days correlation between Nationwide Mid Cap and Bbh Intermediate Municipal is -0.28 (i.e., Very good diversification). The correlation of Nationwide Mid 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 Mid Correlation With Market

Almost no diversification

The correlation between Nationwide Mid Cap and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Mid Cap 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 Mid Cap. 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

  0.85NADMX Nationwide InvestorPairCorr
  0.79GGEAX Nationwide Global EquityPairCorr
  0.8GGEIX Nationwide Global EquityPairCorr
  0.96GGFRX Nationwide GrowthPairCorr
  0.79GGESX Nationwide Global EquityPairCorr
  0.9NSDMX Nationwide InvestorPairCorr
  0.62NSDCX Nationwide InvestorPairCorr
  0.93NTDAX Nationwide DestinationPairCorr
  0.93NTDIX Nationwide DestinationPairCorr
  0.93NTDTX Nationwide DestinationPairCorr
  0.93NTDSX Nationwide DestinationPairCorr
  0.87NUSAX Nationwide GovernmentPairCorr
  0.96NDAAX Nationwide InvestorPairCorr
  0.96NDASX Nationwide InvestorPairCorr
  0.95NDMSX Nationwide InvestorPairCorr
  0.9NDMAX Nationwide InvestorPairCorr
  0.88NWAWX Nationwide Gqg QualityPairCorr
  0.85NWAVX Nationwide Gqg QualityPairCorr
  0.88NWAUX Nationwide Gqg QualityPairCorr
  0.93NWATX Nationwide DestinationPairCorr
  0.88NWAYX Nationwide Gqg QualityPairCorr
  0.77NWBIX Nationwide DestinationPairCorr
  0.96NWABX Nationwide Fund6PairCorr
  0.96NWAEX Nationwide Bny MellonPairCorr
  0.94NWADX Nationwide Loomis AllPairCorr
  0.98NWANX Nationwide Bny MellonPairCorr
  0.98NWAMX Nationwide MellonPairCorr
  0.98NWALX Nationwide Bny MellonPairCorr

Moving against NATIONWIDE Mutual Fund

  0.69NBDAX Nationwide BondPairCorr
  0.61GIIAX Nationwide InternationalPairCorr
  0.6GIIRX Nationwide InternationalPairCorr
  0.59GIXIX Nationwide InternationalPairCorr
  0.71NWCSX Nationwide E PlusPairCorr
  0.7NWCIX Nationwide E PlusPairCorr
  0.7NWCPX Nationwide E PlusPairCorr
  0.49NWAGX Nationwide AllianzgiPairCorr
  0.49NWAKX Nationwide AllianzgiPairCorr
  0.48NWAJX Nationwide AllianzgiPairCorr
  0.48NWAHX Nationwide AllianzgiPairCorr

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 Mid 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 Mid'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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