Nationwide Geneva Correlations

Mutual Funds . USA . 
Fund . Nationwide Geneva Small
NWHZX Fund  USD 77.02  0.47  0.61%   
The current 90-days correlation between Nationwide Geneva Small and Vanguard Small Cap Growth is 0.88 (i.e., Very poor diversification). The correlation of Nationwide Geneva 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 Geneva Correlation With Market

Poor diversification

The correlation between Nationwide Geneva Small and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Geneva Small and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nationwide Geneva Small. 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.

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between NATIONWIDE Mutual Fund performing well and Nationwide Geneva 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 Geneva'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VSGAX  0.74  0.02  0.05  0.13  0.64 
(0.83)
 1.73 
(1.28)
 3.73 
VSGIX  0.74  0.02  0.05  0.13  0.64 
(0.83)
 1.73 
(1.27)
 3.72 
VISGX  0.74  0.02  0.05  0.13  0.65 
(0.83)
 1.73 
(1.28)
 3.73 
VEXPX  0.70  0.00  0.03  0.11  0.66 
(0.76)
 1.62 
(1.34)
 3.95 
VEXRX  0.70  0.00  0.03  0.12  0.66 
(0.76)
 1.62 
(1.34)
 3.97 
JGMIX  0.63  0.00  0.01  0.11  0.60 
(0.72)
 1.36 
(1.47)
 3.60 
JGMRX  0.63  0.00  0.01  0.11  0.64 
(0.70)
 1.36 
(1.43)
 3.57 
JGMAX  0.63  0.00  0.01  0.11  0.59 
(0.70)
 1.33 
(1.45)
 3.57 
JGMCX  0.63  0.00  0.01  0.11  0.64 
(0.72)
 1.33 
(1.46)
 3.65 
JGMNX  0.63  0.00  0.01  0.11  0.60 
(0.70)
 1.35 
(1.45)
 3.62 

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