Nationwide Fund6 Fund Market Value
| NWABX Fund | USD 34.52 0.08 0.23% |
| Symbol | Nationwide |
Nationwide Fund6 '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 Fund6'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 Fund6.
| 10/31/2023 |
| 11/24/2024 |
If you would invest 0.00 in Nationwide Fund6 on October 31, 2023 and sell it all today you would earn a total of 0.00 from holding Nationwide Fund6 or generate 0.0% return on investment in Nationwide Fund6 over 390 days. Nationwide Fund6 is related to or competes with Nationwide Mid, Nationwide Small, Nationwide International, and Siit Dynamic. The fund invests in a diversified portfolio of common stocks to produce an overall blended equity portfolio consisting o... More
Nationwide Fund6 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 Fund6'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 Fund6 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9134 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 3.98 | |||
| Value At Risk | (1.57) | |||
| Potential Upside | 1.15 |
Nationwide Fund6 Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nationwide Fund6's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nationwide Fund6's standard deviation. In reality, there are many statistical measures that can use Nationwide Fund6 historical prices to predict the future Nationwide Fund6's volatility.| Risk Adjusted Performance | 0.0833 | |||
| Jensen Alpha | 0.0869 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | (1.25) |
Nationwide Fund6 Backtested Returns
At this stage we consider Nationwide Mutual Fund to be very steady. Nationwide Fund6 has Sharpe Ratio of 0.11, which conveys that the entity had a 0.11% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Nationwide Fund6, which you can use to evaluate the volatility of the fund. Please verify Nationwide Fund6's Mean Deviation of 0.5831, downside deviation of 0.9134, and Risk Adjusted Performance of 0.0833 to check out if the risk estimate we provide is consistent with the expected return of 0.0909%. The fund secures a Beta (Market Risk) of -0.0636, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Nationwide Fund6 are expected to decrease at a much lower rate. During the bear market, Nationwide Fund6 is likely to outperform the market.
Auto-correlation | 0.71 |
Good predictability
Nationwide Fund6 has good predictability. Overlapping area represents the amount of predictability between Nationwide Fund6 time series from 31st of October 2023 to 13th of May 2024 and 13th of May 2024 to 24th of November 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 Fund6 price movement. The serial correlation of 0.71 indicates that around 71.0% of current Nationwide Fund6 price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.71 | |
| Spearman Rank Test | 0.76 | |
| Residual Average | 0.0 | |
| Price Variance | 1.09 |
Nationwide Fund6 lagged returns against current returns
Autocorrelation, which is Nationwide Fund6 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 Fund6's mutual fund expected returns. We can calculate the autocorrelation of Nationwide Fund6 returns to help us make a trade decision. For example, suppose you find that Nationwide Fund6 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 Fund6 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 Fund6 mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nationwide Fund6 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 Fund6 mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Nationwide Fund6 Lagged Returns
When evaluating Nationwide Fund6's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nationwide Fund6 mutual fund have on its future price. Nationwide Fund6 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 Fund6 autocorrelation shows the relationship between Nationwide Fund6 mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Nationwide Fund6.
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 Fund6 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 Fund6 security.
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments |