Nationwide Destination Correlations

NWEAX Fund

USD 7.70 0.02 0.26%

The current 90-days correlation between Nationwide Destination and Victory Rs Growth is 0.68 (i.e., Poor diversification). The correlation of Nationwide Destination 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 Destination Correlation With Market

Very weak diversification

The correlation between Nationwide Destination 2015 and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Destination 2015 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 Destination 2015. 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

0.75	GCFRX	Nationwide Investor	Pair Corr
0.96	NADCX	Nationwide Investor	Pair Corr
0.7	NADMX	Nationwide Investor	Pair Corr
0.75	GGEAX	Nationwide Global Equity	Pair Corr
0.75	GGEIX	Nationwide Global Equity	Pair Corr
0.75	GGESX	Nationwide Global Equity	Pair Corr
0.7	NSDMX	Nationwide Investor	Pair Corr
0.96	NSDCX	Nationwide Investor	Pair Corr
0.78	GIMCX	Nationwide Investor	Pair Corr
0.76	NDCAX	Nationwide Investor	Pair Corr
0.77	NDCSX	Nationwide Investor	Pair Corr
0.85	NWBIX	Nationwide Destination	Pair Corr

Related Correlations Analysis

	RGWCX	MSSGX	TRBCX	ARTSX	TFAGX	PGRTX	CIPMX
RGWCX		0.88	0.99	0.92	0.99	0.94	0.92	RGWCX
MSSGX	0.88		0.89	0.83	0.86	0.88	0.92	MSSGX
TRBCX	0.99	0.89		0.92	0.98	0.94	0.91	TRBCX
ARTSX	0.92	0.83	0.92		0.92	0.97	0.91	ARTSX
TFAGX	0.99	0.86	0.98	0.92		0.96	0.93	TFAGX
PGRTX	0.94	0.88	0.94	0.97	0.96		0.96	PGRTX
CIPMX	0.92	0.92	0.91	0.91	0.93	0.96		CIPMX
	RGWCX	MSSGX	TRBCX	ARTSX	TFAGX	PGRTX	CIPMX

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Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Destination 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 Destination'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
RGWCX	0.79	0.00	(0.01)	0.12	1.14	(0.76)	1.84	(2.35)	5.55
MSSGX	1.48	0.39	0.31	0.35	1.07	(1.84)	3.46	(2.26)	7.23
TRBCX	0.73	0.00	(0.01)	0.13	0.98	(0.68)	1.66	(2.18)	4.86
ARTSX	0.95	0.01	0.03	0.13	1.16	(0.94)	1.98	(1.99)	5.87
TFAGX	0.61	(0.02)	(0.03)	0.10	0.82	(0.66)	1.32	(1.38)	4.35
PGRTX	0.90	(0.01)	0.03	0.11	1.03	(0.99)	1.96	(1.84)	6.75
CIPMX	0.66	0.01	0.00	0.14	0.72	(0.70)	1.22	(1.23)	4.05

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Nationwide Destination Correlations

Nationwide Destination Correlation With Market

Very weak diversification

Moving together with Nationwide Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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