Nationwide Growth Correlations

Mutual Funds USA . 
Fund . Nationwide Growth Fund
NMFAX Fund  USD 15.08  0.08  0.53%   
The current 90-days correlation between Nationwide Growth and Nationwide Investor Destinations is 0.01 (i.e., Significant 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

Good diversification

The correlation between Nationwide Growth Fund 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 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 nation.

Moving together with Nationwide Mutual Fund

  0.86GCFRX Nationwide InvestorPairCorr
  0.82NADCX Nationwide InvestorPairCorr
  0.79NADMX Nationwide InvestorPairCorr
  0.84GGEAX Nationwide Global EquityPairCorr
  0.85GGEIX Nationwide Global EquityPairCorr
  0.92GGFRX Nationwide GrowthPairCorr
  0.85GGESX Nationwide Global EquityPairCorr
  0.79NSDMX Nationwide InvestorPairCorr
  0.81NSDCX Nationwide InvestorPairCorr
  0.73NBDAX Nationwide BondPairCorr
  0.79NTDAX Nationwide DestinationPairCorr
  0.79NTDIX Nationwide DestinationPairCorr
  0.79NTDTX Nationwide DestinationPairCorr
  0.79NTDSX Nationwide DestinationPairCorr
  0.86GIMCX Nationwide InvestorPairCorr
  0.78NDAAX Nationwide InvestorPairCorr
  0.86NDCAX Nationwide InvestorPairCorr
  0.78NDASX Nationwide InvestorPairCorr
  0.86NDCSX Nationwide InvestorPairCorr
  0.79NDMSX Nationwide InvestorPairCorr
  0.79NDMAX Nationwide InvestorPairCorr
  0.86NWAWX Nationwide Gqg QualityPairCorr
  0.86NWAVX Nationwide Gqg QualityPairCorr
  0.86NWAUX Nationwide Gqg QualityPairCorr
  0.84NWATX Nationwide DestinationPairCorr
  0.86NWAYX Nationwide Gqg QualityPairCorr
  0.78NWBIX Nationwide DestinationPairCorr
  0.86NWABX Nationwide Fund6PairCorr
  0.92NWAEX Nationwide Bny MellonPairCorr
  0.94NWADX Nationwide Loomis AllPairCorr
  0.81NWANX Nationwide Bny MellonPairCorr
  0.76NWAMX Nationwide MellonPairCorr
  0.81NWALX Nationwide Bny MellonPairCorr

Moving against Nationwide Mutual Fund

  0.34NUSAX Nationwide GovernmentPairCorr

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 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GCFRX  0.25 (0.04) 0.00 (0.29) 0.00 
 0.00 
 0.42 
(0.61)
 2.76 
NADCX  0.40 (0.08) 0.00 (2.67) 0.00 
 0.00 
 0.64 
(0.60)
 6.63 
NADMX  0.54 (0.12) 0.00 (1.03) 0.00 
 0.00 
 0.82 
(0.72)
 9.99 
GGEAX  0.75 (0.08) 0.00 (0.30) 0.00 
 0.00 
 1.24 
(1.54)
 8.40 
GGEIX  0.75 (0.07) 0.00 (0.27) 0.00 
 0.00 
 1.22 
(1.55)
 8.06 
GGFRX  0.68 (0.03) 0.00 (0.04) 0.00 
 0.00 
 1.21 
(1.58)
 6.22 
GGESX  0.75 (0.07) 0.00 (0.26) 0.00 
 0.00 
 1.23 
(1.55)
 8.13 
NSDMX  0.55 (0.13) 0.00 (0.98) 0.00 
 0.00 
 0.81 
(0.92)
 9.96 
NSDCX  0.40 (0.08) 0.00 (0.74) 0.00 
 0.00 
 0.63 
(0.59)
 6.66 
NBDAX  0.24 (0.02) 0.00 (0.24) 0.00 
 0.00 
 0.61 
(0.62)
 1.61 

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