Nationwide Core Correlations

NWCSX Fund

USD 8.98 0.02 0.22%

The correlation of Nationwide Core 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 Core Correlation With Market

Average diversification

The correlation between Nationwide E Plus and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide E Plus 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 E Plus. 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

0.88	GCFRX	Nationwide Investor	Pair Corr
0.97	NBDAX	Nationwide Bond	Pair Corr
0.79	GIIAX	Nationwide International	Pair Corr
0.77	GIIRX	Nationwide International	Pair Corr
0.81	GIMCX	Nationwide Investor	Pair Corr
0.78	GIXIX	Nationwide International	Pair Corr
0.83	NDCAX	Nationwide Investor	Pair Corr
0.86	NDCSX	Nationwide Investor	Pair Corr

Moving against Nationwide Mutual Fund

0.82	NUSAX	Nationwide Government	Pair Corr
0.69	GGFRX	Nationwide Growth	Pair Corr
0.64	NDASX	Nationwide Investor	Pair Corr
0.63	NDAAX	Nationwide Investor	Pair Corr
0.58	NTDIX	Nationwide Destination	Pair Corr
0.58	NDMAX	Nationwide Investor	Pair Corr
0.57	NTDAX	Nationwide Destination	Pair Corr
0.57	NTDSX	Nationwide Destination	Pair Corr
0.57	NDMSX	Nationwide Investor	Pair Corr
0.57	NWAVX	Nationwide Gqg Quality	Pair Corr
0.56	NWAWX	Nationwide Gqg Quality	Pair Corr
0.56	NWAUX	Nationwide Gqg Quality	Pair Corr
0.54	NTDTX	Nationwide Destination	Pair Corr
0.39	NADMX	Nationwide Investor	Pair Corr
0.39	NSDMX	Nationwide Investor	Pair Corr
0.78	NWADX	Nationwide Loomis All	Pair Corr
0.75	NWABX	Nationwide Fund6	Pair Corr
0.75	NWFAX	Nationwide Fund Class	Pair Corr
0.73	NWAMX	Nationwide Mellon	Pair Corr
0.72	NWANX	Nationwide Bny Mellon	Pair Corr
0.72	NWAPX	Nationwide Bny Mellon	Pair Corr
0.72	NWAOX	Nationwide Bny Mellon	Pair Corr
0.71	NWALX	Nationwide Bny Mellon	Pair Corr
0.69	NWHDX	Nationwide Bailard Nitive	Pair Corr
0.67	NWAEX	Nationwide Bny Mellon	Pair Corr
0.59	NWASX	Nationwide Destination	Pair Corr
0.58	NWAQX	Nationwide Destination	Pair Corr

Related Correlations Analysis

	NWWAX	NWWEX	NWWDX	NWWCX	NWWBX	NWWJX	NWWIX	NWWHX	NWWFX
NWWAX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NWWAX
NWWEX	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	NWWEX
NWWDX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	NWWDX
NWWCX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	NWWCX
NWWBX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	NWWBX
NWWJX	0.0	0.0	0.0	0.0	0.0		0.98	0.96	0.0	NWWJX
NWWIX	0.0	0.0	0.0	0.0	0.0	0.98		1.0	0.0	NWWIX
NWWHX	0.0	0.0	0.0	0.0	0.0	0.96	1.0		0.0	NWWHX
NWWFX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		NWWFX
	NWWAX	NWWEX	NWWDX	NWWCX	NWWBX	NWWJX	NWWIX	NWWHX	NWWFX

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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

NWWHX	+ 1.0	NWWIX
NWWIX	+ 0.98	NWWJX
NWWHX	+ 0.96	NWWJX
NWWEX	+ 0.0	NWWAX
NWWDX	+ 0.0	NWWAX
NWWCX	+ 0.0	NWWAX

High negative correlations

NWWFX	- 0.0	NWWHX
NWWFX	- 0.0	NWWIX
NWWFX	- 0.0	NWWJX
NWWFX	- 0.0	NWWBX
NWWHX	- 0.0	NWWBX
NWWIX	- 0.0	NWWBX

Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Core 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 Core'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
NWWAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NWWEX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NWWDX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NWWCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NWWBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NWWJX	0.35	0.02	(0.19)	0.54	0.38	(0.39)	0.80	(0.70)	1.92
NWWIX	0.44	0.04	(0.12)	1.18	0.52	(0.47)	0.94	(0.85)	2.50
NWWHX	0.51	0.06	(0.08)	2.09	0.62	(0.54)	0.94	(1.01)	2.97
NWWFX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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