Nationwide Global Correlations

Mutual Funds . USA . 
Fund . Nationwide Global Equity
GGEAX Fund  USD 24.46  0.20  0.82%   
The current 90-days correlation between Nationwide Global Equity and Ab Value Fund is -0.25 (i.e., Very good diversification). The correlation of Nationwide Global 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 Global Correlation With Market

Very good diversification

The correlation between Nationwide Global Equity and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Global Equity 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 Global Equity. 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 nation.

Moving together with Nationwide Mutual Fund

  0.62GCFRX Nationwide InvestorPairCorr
  0.96NADCX Nationwide InvestorPairCorr
  0.96NADMX Nationwide InvestorPairCorr
  1.0GGEIX Nationwide Global EquityPairCorr
  0.97GGFRX Nationwide GrowthPairCorr
  1.0GGESX Nationwide Global EquityPairCorr
  0.98NSDMX Nationwide InvestorPairCorr
  0.98NSDCX Nationwide InvestorPairCorr
  0.98NTDIX Nationwide DestinationPairCorr
  0.98NTDTX Nationwide DestinationPairCorr
  0.98NTDSX Nationwide DestinationPairCorr
  0.76GIIAX Nationwide InternationalPairCorr
  0.87GIIRX Nationwide InternationalPairCorr
  0.96GIMCX Nationwide InvestorPairCorr
  0.88GIXIX Nationwide InternationalPairCorr
  0.92NUSAX Nationwide GovernmentPairCorr
  0.95NDAAX Nationwide InvestorPairCorr
  0.94NDCAX Nationwide InvestorPairCorr
  0.98NDASX Nationwide InvestorPairCorr
  0.96NDCSX Nationwide InvestorPairCorr
  0.98NDMSX Nationwide InvestorPairCorr
  0.95NDMAX Nationwide InvestorPairCorr
  0.98NWATX Nationwide DestinationPairCorr
  0.98NWBIX Nationwide DestinationPairCorr
  0.94NWABX Nationwide Fund6PairCorr
  0.97NWAEX Nationwide Bny MellonPairCorr
  0.97NWADX Nationwide Loomis AllPairCorr
  0.86NWAJX Nationwide AllianzgiPairCorr
  0.92NWAHX Nationwide AllianzgiPairCorr
  0.89NWAGX Nationwide AllianzgiPairCorr
  0.96NWANX Nationwide Bny MellonPairCorr
  0.93NWAMX Nationwide MellonPairCorr
  0.96NWALX Nationwide Bny MellonPairCorr
  0.92NWAKX Nationwide AllianzgiPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide Global 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 Global'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.

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