Nationwide Correlations

GRMSX Fund  USD 28.24  0.15  0.53%   
The current 90-days correlation between Nationwide Sp 500 and Nationwide Investor Destinations is 0.05 (i.e., Significant 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 Sp 500 and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Sp 500 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 Sp 500. 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

  0.81GGFRX Nationwide GrowthPairCorr
  0.61GIMCX Nationwide InvestorPairCorr
  0.61NDCSX Nationwide InvestorPairCorr
  0.61NWABX Nationwide Fund6PairCorr
  0.84NWAEX Nationwide Bny MellonPairCorr
  0.84NWADX Nationwide Loomis AllPairCorr

Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GCFRX  0.24 (0.03) 0.00 (0.27) 0.00 
 0.42 
 2.76 
NADCX  0.40 (0.08) 0.00 (1.93) 0.00 
 0.64 
 6.63 
NADMX  0.53 (0.12) 0.00 (1.06) 0.00 
 0.82 
 9.99 
GGEAX  0.74 (0.07) 0.00 (0.27) 0.00 
 1.24 
 8.40 
GGEIX  0.74 (0.07) 0.00 (0.24) 0.00 
 1.22 
 8.06 
GGFRX  0.67 (0.03)(0.07)(0.01) 1.14 
 1.21 
 6.22 
GGESX  0.74 (0.07) 0.00 (0.23) 0.00 
 1.23 
 8.13 
NSDMX  0.54 (0.12) 0.00 (1.00) 0.00 
 0.81 
 9.96 
NSDCX  0.39 (0.08) 0.00 (0.76) 0.00 
 0.63 
 6.66 
NBDAX  0.24 (0.02) 0.00 (0.29) 0.00 
 0.61 
 1.61