Nationwide Correlations
| NDJI Etf | USD 20.77 0.04 0.19% |
The current 90-days correlation between Nationwide and Nationwide is 0.13 (i.e., Average 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.
Nationwide Correlation With Market
Good diversification
The correlation between Nationwide and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide and DJI in the same portfolio, assuming nothing else is changed.
Nationwide |
Moving together with Nationwide Etf
| 0.66 | XYLD | Global X SP | PairCorr |
| 0.71 | RYLD | Global X Russell | PairCorr |
| 0.66 | JEPQ | JPMorgan Nasdaq Equity | PairCorr |
| 0.64 | SIXH | ETC 6 Meridian | PairCorr |
| 0.76 | DSJA | DSJA | PairCorr |
| 0.86 | RSPY | Tuttle Capital Management | PairCorr |
| 0.85 | MEME | Roundhill Investments | PairCorr |
| 0.79 | BTC | Grayscale Bitcoin Mini | PairCorr |
| 0.82 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.76 | DIS | Walt Disney | PairCorr |
| 0.73 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.64 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.62 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.61 | HPQ | HP Inc | PairCorr |
| 0.7 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
Moving against Nationwide Etf
| 0.48 | IDME | International Drawdown | PairCorr |
| 0.46 | AMPD | Tidal Trust II | PairCorr |
| 0.37 | VZ | Verizon Communications Aggressive Push | PairCorr |
| 0.8 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.74 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.61 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.43 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
Related Correlations Analysis
| 0.92 | 0.86 | 0.83 | 0.82 | NSPI | ||
| 0.92 | 0.83 | 0.84 | 0.81 | NTKI | ||
| 0.86 | 0.83 | 0.97 | 0.97 | XRMI | ||
| 0.83 | 0.84 | 0.97 | 0.97 | QRMI | ||
| 0.82 | 0.81 | 0.97 | 0.97 | NUSI | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Nationwide Constituents Risk-Adjusted Indicators
There is a big difference between Nationwide Etf performing well and Nationwide ETF 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 Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NSPI | 0.42 | 0.10 | (0.07) | (0.87) | 0.33 | 1.05 | 2.95 | |||
| NTKI | 0.45 | 0.05 | (0.10) | (11.75) | 0.54 | 1.11 | 3.25 | |||
| XRMI | 0.24 | 0.02 | (0.23) | 0.19 | 0.09 | 0.49 | 1.65 | |||
| QRMI | 0.29 | 0.02 | (0.14) | 0.20 | 0.33 | 0.55 | 2.45 | |||
| NUSI | 0.51 | 0.01 | (0.05) | 0.13 | 0.57 | 0.86 | 4.26 |
Nationwide Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Nationwide etf to make a market-neutral strategy. Peer analysis of Nationwide could also be used in its relative valuation, which is a method of valuing Nationwide by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |