Nationwide International Correlations

Mutual Funds . USA . 
Fund . Nationwide International Small
NWXUX Fund  USD 11.56  0.12  1.05%   
The current 90-days correlation between Nationwide International and Nationwide Investor Destinations is 0.77 (i.e., Poor diversification). The correlation of Nationwide International 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 International Correlation With Market

Poor diversification

The correlation between Nationwide International Small and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide International 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 International 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 housing.

Moving together with Nationwide Mutual Fund

  0.96GCFRX Nationwide InvestorPairCorr
  0.94NADCX Nationwide InvestorPairCorr
  0.94NADMX Nationwide InvestorPairCorr
  0.94GGEAX Nationwide Global EquityPairCorr
  0.94GGEIX Nationwide Global EquityPairCorr
  0.91GGFRX Nationwide GrowthPairCorr
  0.94GGESX Nationwide Global EquityPairCorr
  0.94NSDMX Nationwide InvestorPairCorr
  0.97NSDCX Nationwide InvestorPairCorr
  0.93NTDAX Nationwide DestinationPairCorr
  0.97NTDIX Nationwide DestinationPairCorr
  0.97NTDTX Nationwide DestinationPairCorr
  0.97NTDSX Nationwide DestinationPairCorr
  0.81GIIAX Nationwide InternationalPairCorr
  0.85GIIRX Nationwide InternationalPairCorr
  0.95GIMCX Nationwide InvestorPairCorr
  0.94GIXIX Nationwide InternationalPairCorr
  0.91NUSAX Nationwide GovernmentPairCorr
  0.92NDAAX Nationwide InvestorPairCorr
  0.93NDCAX Nationwide InvestorPairCorr
  0.97NDASX Nationwide InvestorPairCorr
  0.96NDCSX Nationwide InvestorPairCorr
  0.97NDMSX Nationwide InvestorPairCorr
  0.93NDMAX Nationwide InvestorPairCorr
  0.97NWATX Nationwide DestinationPairCorr
  0.97NWBIX Nationwide DestinationPairCorr
  0.91NWABX Nationwide Fund6PairCorr
  0.94NWAEX Nationwide Bny MellonPairCorr
  0.9NWADX Nationwide Loomis AllPairCorr
  0.95NWAJX Nationwide AllianzgiPairCorr
  0.89NWAHX Nationwide AllianzgiPairCorr
  0.88NWAGX Nationwide AllianzgiPairCorr
  0.86NWANX Nationwide Bny MellonPairCorr
  0.86NWAMX Nationwide MellonPairCorr
  0.86NWALX Nationwide Bny MellonPairCorr
  0.89NWAKX Nationwide AllianzgiPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Nationwide Mutual Fund performing well and Nationwide International 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 International'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
GCFRX  0.17  0.03 (0.18) 0.26  0.00 
(0.24)
 0.40 
(0.30)
 1.00 
NADCX  0.24  0.06 (0.11)(3.69) 0.09 
(0.29)
 0.61 
(0.50)
 1.42 
NADMX  0.32  0.08 (0.05)(1.85) 0.23 
(0.38)
 0.76 
(0.55)
 1.68 
GGEAX  0.53  0.06  0.07  0.16  0.43 
(0.63)
 1.48 
(0.86)
 3.10 
GGEIX  0.54  0.06  0.07  0.16  0.42 
(0.62)
 1.49 
(0.82)
 3.08 
GGFRX  0.49  0.15  0.07 (0.69) 0.31 
(0.62)
 1.13 
(0.72)
 2.67 
GGESX  0.53  0.06  0.07  0.16  0.42 
(0.61)
 1.45 
(0.86)
 3.03 
NSDMX  0.31  0.08 (0.03)(1.17) 0.20 
(0.37)
 0.77 
(0.54)
 1.79 
NSDCX  0.24  0.03 (0.09) 0.17  0.00 
(0.32)
 0.50 
(0.41)
 1.30 
NTDAX  0.45  0.11  0.01 (0.89) 0.37 
(0.51)
 1.18 
(0.79)
 2.32 

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