Nationwide Bailard Correlations

NWHOX Fund

USD 27.70 0.02 0.07%

The current 90-days correlation between Nationwide Bailard and Vanguard Money Market is 0.07 (i.e., Significant diversification). The correlation of Nationwide Bailard 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 Bailard Correlation With Market

Significant diversification

The correlation between Nationwide Bailard Technology and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Bailard Technology 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 Bailard Technology. 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 persons.

Moving together with Nationwide Mutual Fund

0.68

ZPTA

Zapata Computing Holdings Symbol Change

Pair Corr

Moving against Nationwide Mutual Fund

0.7	VEEA	Veea Inc Symbol Change	Pair Corr
0.63	CETXP	Cemtrex Pref	Pair Corr
0.42	EXOD	Exodus Movement,	Pair Corr
0.36	VVPR	VivoPower International	Pair Corr

Related Correlations Analysis

	VMRXX	FNPIX	AEYXX	JRSXX	BXSL	RMBLX
VMRXX		0.03	0.0	0.0	0.74	-0.22	VMRXX
FNPIX	0.03		0.0	0.0	0.27	0.82	FNPIX
AEYXX	0.0	0.0		0.0	0.0	0.0	AEYXX
JRSXX	0.0	0.0	0.0		0.0	0.0	JRSXX
BXSL	0.74	0.27	0.0	0.0		-0.21	BXSL
RMBLX	-0.22	0.82	0.0	0.0	-0.21		RMBLX
	VMRXX	FNPIX	AEYXX	JRSXX	BXSL	RMBLX

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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

RMBLX	+ 0.82	FNPIX
BXSL	+ 0.74	VMRXX
BXSL	+ 0.27	FNPIX
FNPIX	+ 0.03	VMRXX
AEYXX	+ 0.0	VMRXX
JRSXX	+ 0.0	VMRXX

High negative correlations

RMBLX	- 0.22	VMRXX
RMBLX	- 0.21	BXSL
RMBLX	- 0.0	JRSXX
BXSL	- 0.0	JRSXX
RMBLX	- 0.0	AEYXX
BXSL	- 0.0	AEYXX

Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Bailard 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 Bailard'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
VMRXX	0.03	0.01	0.00	(0.96)	0.00	0.00	0.00	0.00	1.01
FNPIX	1.15	0.15	0.08	0.30	1.36	(1.25)	2.08	(2.50)	13.82
AEYXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JRSXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BXSL	0.73	0.12	0.08	0.48	0.72	(0.81)	1.47	(1.14)	4.08
RMBLX	1.18	0.07	0.03	0.19	1.26	(1.41)	2.60	(2.07)	15.68

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