Nationwide Investor Correlations

GCFRX Fund

USD 10.07 0.01 0.1%

The current 90-days correlation between Nationwide Investor and Fidelity Real Estate is 0.41 (i.e., Very weak 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

Very weak diversification

The correlation between Nationwide Investor Destinatio and DJI is 0.46 (i.e., Very weak 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 Risk vs Return 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 persons.

Moving together with Nationwide Mutual Fund

0.83	NADCX	Nationwide Investor	Pair Corr
0.82	NADMX	Nationwide Investor	Pair Corr
0.79	NTDAX	Nationwide Destination	Pair Corr
0.94	NTDIX	Nationwide Destination	Pair Corr
0.75	NUSAX	Nationwide Government	Pair Corr
0.8	NDAAX	Nationwide Investor	Pair Corr
0.85	NDCSX	Nationwide Investor	Pair Corr
0.8	NDMSX	Nationwide Investor	Pair Corr
0.8	NDMAX	Nationwide Investor	Pair Corr
0.94	NWATX	Nationwide Destination	Pair Corr
0.66	NWANX	Nationwide Bny Mellon	Pair Corr
0.94	NWLSX	Nationwide Destination	Pair Corr
0.8	NWOBX	Nationwide Destination	Pair Corr
0.8	NWNIX	Nationwide Destination	Pair Corr
0.96	NWWJX	Nationwide Investor	Pair Corr
0.94	NWWIX	Nationwide Investor	Pair Corr
0.94	NWWHX	Nationwide Investor	Pair Corr

Moving against Nationwide Mutual Fund

0.49	NWGPX	Nationwide Highmark Small	Pair Corr
0.49	NWGSX	Nationwide Highmark Small	Pair Corr
0.49	NWKEX	Nationwide Highmark Small	Pair Corr
0.48	GGEAX	Nationwide Global Equity	Pair Corr
0.47	GGEIX	Nationwide Global Equity	Pair Corr
0.45	NWHYX	Nationwide Geneva Mid	Pair Corr
0.34	GGFRX	Nationwide Growth	Pair Corr
0.59	NWZNX	Nationwide All Cap	Pair Corr
0.59	NWZMX	Nationwide All Cap	Pair Corr
0.52	MUIFX	Nationwide Fund Inst	Pair Corr
0.51	GMXAX	Nationwide Mid Cap	Pair Corr
0.5	NWXVX	Nationwide International	Pair Corr
0.5	NWXUX	Nationwide International	Pair Corr
0.44	GMXRX	Nationwide Mid Cap	Pair Corr
0.43	GRMAX	Nationwide Sp 500	Pair Corr
0.43	GRMRX	Nationwide Sp 500	Pair Corr
0.42	GRISX	Nationwide Sp 500	Pair Corr
0.42	GRMIX	Nationwide Sp 500	Pair Corr

Related Correlations Analysis

	FIKMX	CNREX	JYEBX	TRREX	CREYX	BREUX	FORFX
FIKMX		0.63	0.23	0.88	0.59	0.85	0.35	FIKMX
CNREX	0.63		-0.23	0.68	0.36	0.76	-0.15	CNREX
JYEBX	0.23	-0.23		-0.03	0.49	0.22	0.27	JYEBX
TRREX	0.88	0.68	-0.03		0.47	0.7	0.27	TRREX
CREYX	0.59	0.36	0.49	0.47		0.49	-0.14	CREYX
BREUX	0.85	0.76	0.22	0.7	0.49		0.26	BREUX
FORFX	0.35	-0.15	0.27	0.27	-0.14	0.26		FORFX
	FIKMX	CNREX	JYEBX	TRREX	CREYX	BREUX	FORFX

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

TRREX	+ 0.88	FIKMX
BREUX	+ 0.85	FIKMX
BREUX	+ 0.76	CNREX
BREUX	+ 0.7	TRREX
TRREX	+ 0.68	CNREX
CNREX	+ 0.63	FIKMX

High negative correlations

JYEBX	- 0.23	CNREX
FORFX	- 0.15	CNREX
FORFX	- 0.14	CREYX
TRREX	- 0.03	JYEBX

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
FIKMX	0.16	0.00	(0.25)	0.06	0.15	(0.20)	0.33	(0.33)	1.08
CNREX	0.64	(0.06)	(0.10)	0.00	0.75	(0.74)	1.60	(1.30)	4.06
JYEBX	0.58	(0.03)	0.00	(0.15)	0.00	0.00	1.00	(1.37)	3.48
TRREX	0.66	0.03	(0.01)	0.15	0.76	(0.77)	1.26	(1.11)	6.36
CREYX	0.60	(0.04)	(0.08)	0.00	0.83	(0.60)	1.05	(1.14)	3.89
BREUX	0.73	(0.06)	(0.05)	0.02	1.00	(0.72)	1.57	(1.77)	4.28
FORFX	0.07	0.00	0.00	0.04	0.00	0.00	0.10	0.00	1.84

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