Nationwide Highmark Correlations

Mutual Funds . USA . 
Fund . Nationwide Highmark Short
NWJUX Fund  USD 9.94  0.01  0.10%   
The current 90-days correlation between Nationwide Highmark Short and Nationwide Investor Destinations is 0.4 (i.e., Very weak diversification). The correlation of Nationwide Highmark 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 Highmark Correlation With Market

Significant diversification

The correlation between Nationwide Highmark Short and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Highmark Short 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 Highmark Short. 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 employment.

Moving together with Nationwide Mutual Fund

  0.82NUSAX Nationwide GovernmentPairCorr

Moving against Nationwide Mutual Fund

  0.46NDAAX Nationwide InvestorPairCorr
  0.46NDASX Nationwide InvestorPairCorr
  0.46NDMAX Nationwide InvestorPairCorr
  0.45NSDMX Nationwide InvestorPairCorr
  0.45NTDAX Nationwide DestinationPairCorr
  0.45NTDIX Nationwide DestinationPairCorr
  0.45NTDTX Nationwide DestinationPairCorr
  0.45NTDSX Nationwide DestinationPairCorr
  0.45NDMSX Nationwide InvestorPairCorr
  0.44NADMX Nationwide InvestorPairCorr
  0.42NADCX Nationwide InvestorPairCorr
  0.42NSDCX Nationwide InvestorPairCorr
  0.37GGEIX Nationwide Global EquityPairCorr
  0.37NWAWX Nationwide Gqg QualityPairCorr
  0.37NWAVX Nationwide Gqg QualityPairCorr
  0.37NWAUX Nationwide Gqg QualityPairCorr
  0.37NWATX Nationwide DestinationPairCorr
  0.36GGEAX Nationwide Global EquityPairCorr
  0.35GGESX Nationwide Global EquityPairCorr
  0.33GIIRX Nationwide InternationalPairCorr
  0.32GIIAX Nationwide InternationalPairCorr
  0.32GIXIX Nationwide InternationalPairCorr
  0.49NWANX Nationwide Bny MellonPairCorr
  0.49NWAMX Nationwide MellonPairCorr
  0.49NWALX Nationwide Bny MellonPairCorr
  0.49NWAPX Nationwide Bny MellonPairCorr
  0.49NWAOX Nationwide Bny MellonPairCorr
  0.48NWCPX Nationwide E PlusPairCorr
  0.47NWBIX Nationwide DestinationPairCorr
  0.47NWHBX Nationwide DestinationPairCorr
  0.46NWCIX Nationwide E PlusPairCorr
  0.46NWCSX Nationwide E PlusPairCorr
  0.46NWHAX Nationwide DestinationPairCorr

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 Highmark 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 Highmark'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  0.26 (0.05) 0.00 (0.65) 0.00 
 0.00 
 0.40 
(0.61)
 2.76 
NADCX  0.40 (0.11) 0.00 (1.32) 0.00 
 0.00 
 0.61 
(0.60)
 6.63 
NADMX  0.53 (0.15) 0.00 (2.51) 0.00 
 0.00 
 0.81 
(0.72)
 9.99 
GGEAX  0.74 (0.11) 0.00 (0.71) 0.00 
 0.00 
 1.20 
(1.40)
 8.40 
GGEIX  0.72 (0.11) 0.00 (4.41) 0.00 
 0.00 
 1.19 
(1.38)
 8.06 
GGFRX  0.63 (0.05) 0.00 (3.35) 0.00 
 0.00 
 1.21 
(1.58)
 6.22 
GGESX  0.73 (0.11) 0.00 (0.64) 0.00 
 0.00 
 1.22 
(1.37)
 8.13 
NSDMX  0.54 (0.15) 0.00 (2.08) 0.00 
 0.00 
 0.81 
(0.92)
 9.96 
NSDCX  0.40 (0.11) 0.00 (1.47) 0.00 
 0.00 
 0.50 
(0.59)
 6.66 
NBDAX  0.25 (0.04) 0.00 (0.68) 0.00 
 0.00 
 0.61 
(0.62)
 1.61 

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