Nationwide Growth Correlations

MUIGX Fund

USD 16.62 0.15 0.91%

The current 90-days correlation between Nationwide Growth and Global Technology Portfolio is 0.73 (i.e., Poor diversification). The correlation of Nationwide Growth 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 Growth Correlation With Market

Modest diversification

The correlation between Nationwide Growth Fund and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Growth 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 Growth 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 price.

Moving together with NATIONWIDE Mutual Fund

0.84	GCFRX	Nationwide Investor	Pair Corr
0.87	GGEIX	Nationwide Global Equity	Pair Corr
0.79	NSDMX	Nationwide Investor	Pair Corr
0.8	NSDCX	Nationwide Investor	Pair Corr
0.79	NTDTX	Nationwide Destination	Pair Corr
0.85	GIMCX	Nationwide Investor	Pair Corr
0.78	NDAAX	Nationwide Investor	Pair Corr
0.78	NDASX	Nationwide Investor	Pair Corr
0.84	NDCSX	Nationwide Investor	Pair Corr
0.78	NDMSX	Nationwide Investor	Pair Corr
0.78	NDMAX	Nationwide Investor	Pair Corr
0.87	NWAWX	Nationwide Gqg Quality	Pair Corr
0.87	NWAVX	Nationwide Gqg Quality	Pair Corr
0.87	NWAYX	Nationwide Gqg Quality	Pair Corr
0.77	NWBIX	Nationwide Destination	Pair Corr
1.0	NWAEX	Nationwide Bny Mellon	Pair Corr
0.78	NWAMX	Nationwide Mellon	Pair Corr
0.78	NWALX	Nationwide Bny Mellon	Pair Corr
0.77	NWEAX	Nationwide Destination	Pair Corr
0.76	NWHIX	Nationwide Destination	Pair Corr
0.88	NWHOX	Nationwide Bailard	Pair Corr
0.9	NWHTX	Nationwide Bailard	Pair Corr
0.75	NWHSX	Nationwide Destination	Pair Corr
0.91	NWHVX	Nationwide Geneva Mid	Pair Corr
0.94	NWHZX	Nationwide Geneva Small	Pair Corr
0.85	NWGPX	Nationwide Highmark Small	Pair Corr
0.85	NWGSX	Nationwide Highmark Small	Pair Corr
0.79	NWJFX	Nationwide Ziegler Nyse	Pair Corr
0.92	NWKAX	Nationwide Geneva Mid	Pair Corr
0.85	NWKEX	Nationwide Highmark Small	Pair Corr
0.79	NWJCX	Nationwide Ziegler Nyse	Pair Corr
0.78	NWNBX	Nationwide Destination	Pair Corr
0.8	NWOSX	Nationwide Destination	Pair Corr
0.89	NWSAX	Nationwide Small Pany	Pair Corr
0.88	NWSIX	Nationwide Small Pany	Pair Corr

Related Correlations Analysis

	JGLTX	RAGTX	TEFQX	BSTSX	WFSTX	USTCX	TOWTX	PGKCX
JGLTX		0.92	0.89	0.79	0.22	0.96	0.47	0.86	JGLTX
RAGTX	0.92		0.81	0.55	-0.11	0.95	0.31	0.73	RAGTX
TEFQX	0.89	0.81		0.77	0.34	0.89	0.52	0.88	TEFQX
BSTSX	0.79	0.55	0.77		0.64	0.71	0.57	0.86	BSTSX
WFSTX	0.22	-0.11	0.34	0.64		0.12	0.46	0.47	WFSTX
USTCX	0.96	0.95	0.89	0.71	0.12		0.37	0.82	USTCX
TOWTX	0.47	0.31	0.52	0.57	0.46	0.37		0.61	TOWTX
PGKCX	0.86	0.73	0.88	0.86	0.47	0.82	0.61		PGKCX
	JGLTX	RAGTX	TEFQX	BSTSX	WFSTX	USTCX	TOWTX	PGKCX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

USTCX	+ 0.96	JGLTX
USTCX	+ 0.95	RAGTX
RAGTX	+ 0.92	JGLTX
TEFQX	+ 0.89	JGLTX
USTCX	+ 0.89	TEFQX
PGKCX	+ 0.88	TEFQX

High negative correlations

WFSTX

- 0.11

RAGTX

Risk-Adjusted Indicators

There is a big difference between NATIONWIDE Mutual Fund performing well and Nationwide Growth 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 Growth'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JGLTX	0.86	0.01	0.00	0.10	1.35	(0.81)	1.65	(2.71)	5.34
RAGTX	1.09	0.09	0.05	0.30	1.48	(1.05)	2.20	(2.43)	7.50
TEFQX	1.35	0.03	0.01	0.08	1.88	(1.32)	2.95	(3.10)	8.29
BSTSX	1.12	0.00	(0.01)	0.01	1.77	(1.07)	2.16	(2.50)	8.24
WFSTX	0.93	(0.12)	0.00	(0.27)	0.00	0.00	1.46	(2.14)	10.00
USTCX	1.07	0.07	0.04	0.16	1.42	(1.05)	2.13	(2.14)	7.13
TOWTX	0.64	(0.03)	0.00	(0.11)	0.00	0.00	1.19	(1.69)	5.74
PGKCX	1.11	0.00	(0.01)	0.02	1.60	(1.01)	2.15	(2.65)	6.34

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