Nationwide Growth Fund Market Value
| NMFAX Fund | USD 15.64 0.10 0.64% |
| Symbol | NATIONWIDE |
Nationwide Growth 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Nationwide Growth's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Nationwide Growth.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Nationwide Growth on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Nationwide Growth Fund or generate 0.0% return on investment in Nationwide Growth over 30 days. Nationwide Growth is related to or competes with Nationwide Mid, Nationwide Small, Nationwide International, Nationwide Fund, and Nationwide Bond. The fund seeks to provide investors with long-term growth of capital by outperforming the SP 500 Index over a full marke... More
Nationwide Growth Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Nationwide Growth's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Nationwide Growth Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8033 | |||
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 3.64 | |||
| Value At Risk | (1.30) | |||
| Potential Upside | 1.13 |
Nationwide Growth Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nationwide Growth's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nationwide Growth's standard deviation. In reality, there are many statistical measures that can use Nationwide Growth historical prices to predict the future Nationwide Growth's volatility.| Risk Adjusted Performance | 0.111 | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | 0.1215 |
Nationwide Growth Backtested Returns
At this stage we consider NATIONWIDE Mutual Fund to be very steady. Nationwide Growth has Sharpe Ratio of 0.18, which conveys that the entity had a 0.18% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Nationwide Growth, which you can use to evaluate the volatility of the fund. Please verify Nationwide Growth's Downside Deviation of 0.8033, mean deviation of 0.5462, and Risk Adjusted Performance of 0.111 to check out if the risk estimate we provide is consistent with the expected return of 0.13%. The fund secures a Beta (Market Risk) of 0.81, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Nationwide Growth's returns are expected to increase less than the market. However, during the bear market, the loss of holding Nationwide Growth is expected to be smaller as well.
Auto-correlation | 0.85 |
Very good predictability
Nationwide Growth Fund has very good predictability. Overlapping area represents the amount of predictability between Nationwide Growth time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st of December 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Nationwide Growth price movement. The serial correlation of 0.85 indicates that around 85.0% of current Nationwide Growth price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.85 | |
| Spearman Rank Test | 0.7 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Nationwide Growth lagged returns against current returns
Autocorrelation, which is Nationwide Growth mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Nationwide Growth's mutual fund expected returns. We can calculate the autocorrelation of Nationwide Growth returns to help us make a trade decision. For example, suppose you find that Nationwide Growth has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Nationwide Growth regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Nationwide Growth mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nationwide Growth mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nationwide Growth mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Nationwide Growth Lagged Returns
When evaluating Nationwide Growth's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nationwide Growth mutual fund have on its future price. Nationwide Growth autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Nationwide Growth autocorrelation shows the relationship between Nationwide Growth mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Nationwide Growth Fund.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in NATIONWIDE Mutual Fund
Nationwide Growth financial ratios help investors to determine whether NATIONWIDE Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in NATIONWIDE with respect to the benefits of owning Nationwide Growth security.
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets |