Nationwide Bny Mellon Fund Market Value
| NWAEX Fund | USD 17.20 0.06 0.35% |
| Symbol | Nationwide |
Nationwide Bny '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 Bny'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 Bny.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in Nationwide Bny on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding Nationwide Bny Mellon or generate 0.0% return on investment in Nationwide Bny over 720 days. Nationwide Bny is related to or competes with Nationwide Mid, Nationwide Small, Nationwide International, and Siit Dynamic. The fund seeks to provide investors with long-term growth of capital by outperforming the SP 500 Index over a full marke... More
Nationwide Bny 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 Bny'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 Bny Mellon upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7638 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 3.62 | |||
| Value At Risk | (1.28) | |||
| Potential Upside | 1.17 |
Nationwide Bny Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nationwide Bny's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nationwide Bny's standard deviation. In reality, there are many statistical measures that can use Nationwide Bny historical prices to predict the future Nationwide Bny's volatility.| Risk Adjusted Performance | 0.097 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.1043 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nationwide Bny's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Nationwide Bny Mellon Backtested Returns
At this stage we consider Nationwide Mutual Fund to be very steady. Nationwide Bny Mellon 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 Bny, which you can use to evaluate the volatility of the fund. Please verify Nationwide Bny's Risk Adjusted Performance of 0.097, downside deviation of 0.7638, and Mean Deviation of 0.554 to check out if the risk estimate we provide is consistent with the expected return of 0.0836%. The fund secures a Beta (Market Risk) of 0.82, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Nationwide Bny's returns are expected to increase less than the market. However, during the bear market, the loss of holding Nationwide Bny is expected to be smaller as well.
Auto-correlation | 0.78 |
Good predictability
Nationwide Bny Mellon has good predictability. Overlapping area represents the amount of predictability between Nationwide Bny time series from 5th of December 2022 to 30th of November 2023 and 30th of November 2023 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 Bny Mellon price movement. The serial correlation of 0.78 indicates that around 78.0% of current Nationwide Bny price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.78 | |
| Spearman Rank Test | 0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 1.16 |
Nationwide Bny Mellon lagged returns against current returns
Autocorrelation, which is Nationwide Bny 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 Bny's mutual fund expected returns. We can calculate the autocorrelation of Nationwide Bny returns to help us make a trade decision. For example, suppose you find that Nationwide Bny 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 Bny 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 Bny mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nationwide Bny 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 Bny mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Nationwide Bny Lagged Returns
When evaluating Nationwide Bny's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nationwide Bny mutual fund have on its future price. Nationwide Bny 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 Bny autocorrelation shows the relationship between Nationwide Bny mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Nationwide Bny Mellon.
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 Bny 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 Bny security.
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