Nationwide Investor Correlations

NWWIX Fund

USD 9.18 0.04 0.44%

The current 90-days correlation between Nationwide Investor and Nuveen Strategic Municipal is 0.04 (i.e., Significant diversification). The correlation of Nationwide Investor 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 Investor Correlation With Market

Significant diversification

The correlation between Nationwide Investor Destinatio 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 Investor Destinatio 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 Investor Destinations. 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 gross domestic product.

Moving together with Nationwide Mutual Fund

0.96	GCFRX	Nationwide Investor	Pair Corr
1.0	NSDMX	Nationwide Investor	Pair Corr
1.0	NSDCX	Nationwide Investor	Pair Corr
1.0	NTDTX	Nationwide Destination	Pair Corr
1.0	NDASX	Nationwide Investor	Pair Corr
0.96	NDCSX	Nationwide Investor	Pair Corr
1.0	NDMSX	Nationwide Investor	Pair Corr
0.93	NWAVX	Nationwide Gqg Quality	Pair Corr
0.93	NWAYX	Nationwide Gqg Quality	Pair Corr
0.78	NWAEX	Nationwide Bny Mellon	Pair Corr
1.0	NWHIX	Nationwide Destination	Pair Corr
0.93	NWHOX	Nationwide Bailard	Pair Corr
0.92	NWHTX	Nationwide Bailard	Pair Corr
1.0	NWHSX	Nationwide Destination	Pair Corr
0.93	NWGSX	Nationwide Highmark Small	Pair Corr
1.0	NWWJX	Nationwide Investor	Pair Corr
1.0	NWWHX	Nationwide Investor	Pair Corr
0.95	NWWLX	Nationwide Investor	Pair Corr
1.0	NWWKX	Nationwide Investor	Pair Corr
1.0	NWWRX	Nationwide Destination	Pair Corr
1.0	NWWVX	Nationwide Destination	Pair Corr
1.0	NWWUX	Nationwide Destination	Pair Corr
1.0	NWWTX	Nationwide Destination	Pair Corr
0.75	NWXNX	Nationwide Inflation	Pair Corr
0.8	GMRAX	Nationwide Small Cap	Pair Corr
0.91	GMXAX	Nationwide Mid Cap	Pair Corr
0.78	MUIGX	Nationwide Growth	Pair Corr
0.76	NIFAX	Nationwide Inflation-protec	Pair Corr
0.74	FFIFX	American Funds	Pair Corr
0.83	FAIFX	American Funds	Pair Corr
0.84	IFACX	Income Fund	Pair Corr
0.84	IFAFX	Income Fund	Pair Corr
0.84	AMECX	Income Fund	Pair Corr

Related Correlations Analysis

	NSIOX	ATOAX	TSSCX	OWMBX	LOISX	AUNTX	RYAQX
NSIOX		0.12	0.97	0.96	0.99	0.81	-0.5	NSIOX
ATOAX	0.12		-0.07	-0.03	0.07	-0.14	0.73	ATOAX
TSSCX	0.97	-0.07		0.97	0.98	0.85	-0.65	TSSCX
OWMBX	0.96	-0.03	0.97		0.98	0.85	-0.59	OWMBX
LOISX	0.99	0.07	0.98	0.98		0.83	-0.55	LOISX
AUNTX	0.81	-0.14	0.85	0.85	0.83		-0.59	AUNTX
RYAQX	-0.5	0.73	-0.65	-0.59	-0.55	-0.59		RYAQX
	NSIOX	ATOAX	TSSCX	OWMBX	LOISX	AUNTX	RYAQX

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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

LOISX	+ 0.99	NSIOX
LOISX	+ 0.98	TSSCX
LOISX	+ 0.98	OWMBX
TSSCX	+ 0.97	NSIOX
OWMBX	+ 0.97	TSSCX
OWMBX	+ 0.96	NSIOX

High negative correlations

RYAQX	- 0.65	TSSCX
RYAQX	- 0.59	AUNTX
RYAQX	- 0.59	OWMBX
RYAQX	- 0.55	LOISX
RYAQX	- 0.5	NSIOX
AUNTX	- 0.14	ATOAX

Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Investor 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 Investor'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
NSIOX	0.19	(0.02)	0.00	(0.29)	0.00	0.00	0.41	(0.50)	1.61
ATOAX	0.03	0.00	0.00	0.58	0.00	0.00	0.10	0.00	0.40
TSSCX	0.15	(0.02)	0.00	(0.42)	0.00	0.00	0.36	(0.43)	1.14
OWMBX	0.13	(0.02)	0.00	(0.91)	0.00	0.00	0.26	(0.53)	1.05
LOISX	0.16	(0.02)	0.00	(0.41)	0.00	0.00	0.30	(0.39)	1.28
AUNTX	0.13	(0.02)	0.00	(0.60)	0.00	0.00	0.28	(0.28)	1.32
RYAQX	0.67	0.12	0.11	(0.71)	0.68	(0.77)	1.52	(1.32)	5.22

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