Nationwide Allianzgi Correlations

NWAJX Fund

USD 20.33 0.08 0.40%

The current 90-days correlation between Nationwide Allianzgi and Vanguard Total International is 0.95 (i.e., Almost no diversification). The correlation of Nationwide Allianzgi 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 Allianzgi Correlation With Market

Very weak diversification

The correlation between Nationwide Allianzgi Internati and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Allianzgi Internati 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 Allianzgi International. 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 inflation.

Moving together with Nationwide Mutual Fund

0.94	GIIAX	Nationwide International	Pair Corr
0.9	GIIRX	Nationwide International	Pair Corr
0.95	GIXIX	Nationwide International	Pair Corr
1.0	NWAHX	Nationwide Allianzgi	Pair Corr
1.0	NWAGX	Nationwide Allianzgi	Pair Corr

Moving against Nationwide Mutual Fund

0.64	NUSAX	Nationwide Government	Pair Corr
0.56	NWAVX	Nationwide Gqg Quality	Pair Corr
0.55	NWAWX	Nationwide Gqg Quality	Pair Corr
0.55	NWAUX	Nationwide Gqg Quality	Pair Corr
0.4	GGFRX	Nationwide Growth	Pair Corr
0.57	NWADX	Nationwide Loomis All	Pair Corr
0.56	NWHDX	Nationwide Bailard Nitive	Pair Corr
0.55	NWAYX	Nationwide Gqg Quality	Pair Corr
0.52	NWAMX	Nationwide Mellon	Pair Corr
0.49	NWANX	Nationwide Bny Mellon	Pair Corr
0.49	NWALX	Nationwide Bny Mellon	Pair Corr
0.49	NWAPX	Nationwide Bny Mellon	Pair Corr
0.49	NWAOX	Nationwide Bny Mellon	Pair Corr
0.42	NWABX	Nationwide Fund6	Pair Corr
0.42	NWFAX	Nationwide Fund Class	Pair Corr
0.38	NWAEX	Nationwide Bny Mellon	Pair Corr

Related Correlations Analysis

	VGTSX	VTIAX	VTSNX	VTPSX	VTISX	VTMGX	VDVIX	VTMNX	VDIPX	FSPSX
VGTSX		1.0	1.0	1.0	1.0	0.91	0.85	0.91	0.91	0.83	VGTSX
VTIAX	1.0		1.0	1.0	1.0	0.91	0.85	0.91	0.91	0.83	VTIAX
VTSNX	1.0	1.0		1.0	1.0	0.91	0.84	0.91	0.91	0.82	VTSNX
VTPSX	1.0	1.0	1.0		1.0	0.91	0.84	0.91	0.91	0.82	VTPSX
VTISX	1.0	1.0	1.0	1.0		0.91	0.84	0.91	0.9	0.82	VTISX
VTMGX	0.91	0.91	0.91	0.91	0.91		0.93	1.0	1.0	0.93	VTMGX
VDVIX	0.85	0.85	0.84	0.84	0.84	0.93		0.93	0.93	1.0	VDVIX
VTMNX	0.91	0.91	0.91	0.91	0.91	1.0	0.93		1.0	0.93	VTMNX
VDIPX	0.91	0.91	0.91	0.91	0.9	1.0	0.93	1.0		0.93	VDIPX
FSPSX	0.83	0.83	0.82	0.82	0.82	0.93	1.0	0.93	0.93		FSPSX
	VGTSX	VTIAX	VTSNX	VTPSX	VTISX	VTMGX	VDVIX	VTMNX	VDIPX	FSPSX

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Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Allianzgi 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 Allianzgi'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VGTSX	0.62	(0.11)	(0.13)	1.15	(1.56)	4.09
VTIAX	0.62	(0.11)	(0.12)	1.15	(1.59)	4.11
VTSNX	0.61	(0.11)	(0.13)	1.15	(1.57)	4.08
VTPSX	0.61	(0.11)	(0.13)	1.14	(1.57)	4.08
VTISX	0.61	(0.11)	(0.12)	1.14	(1.57)	4.09
VTMGX	0.63	(0.14)	(0.17)	0.98	(1.49)	3.94
VDVIX	0.64	(0.08)	1.82	0.96	(1.52)	4.01
VTMNX	0.63	(0.14)	(0.17)	0.99	(1.55)	3.94
VDIPX	0.63	(0.14)	(0.17)	1.02	(1.50)	3.93
FSPSX	0.65	(0.09)	1.89	0.91	(1.64)	4.06

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