Nationwide Mid Cap Fund Market Value
GMXIX Fund | USD 17.67 0.30 1.73% |
Symbol | Nationwide |
Nationwide Mid '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 Mid'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 Mid.
02/27/2024 |
| 03/28/2024 |
If you would invest 0.00 in Nationwide Mid on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Nationwide Mid Cap or generate 0.0% return on investment in Nationwide Mid over 30 days. Nationwide Mid is related to or competes with USCF Gold, Nationwide Investor, Nationwide Investor, Nationwide Investor, Nationwide Investor, Nationwide Investor, and Nationwide Destination. The fund normally invests at least 80 percent of its net assets in equity securities of companies included in the SP Mid... More
Nationwide Mid 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 Mid'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 Mid Cap upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 0.939 | |||
Information Ratio | 0.0052 | |||
Maximum Drawdown | 3.81 | |||
Value At Risk | (1.22) | |||
Potential Upside | 1.38 |
Nationwide Mid Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nationwide Mid's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nationwide Mid's standard deviation. In reality, there are many statistical measures that can use Nationwide Mid historical prices to predict the future Nationwide Mid's volatility.Risk Adjusted Performance | 0.0917 | |||
Jensen Alpha | 0.1482 | |||
Total Risk Alpha | (0.07) | |||
Sortino Ratio | 0.0048 | |||
Treynor Ratio | (0.82) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nationwide Mid'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 Mid Cap Backtested Returns
We consider Nationwide Mid very steady. Nationwide Mid Cap has Sharpe Ratio of 0.17, which conveys that the entity had a 0.17% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Nationwide Mid, which you can use to evaluate the volatility of the fund. Please verify Nationwide Mid's Downside Deviation of 0.939, risk adjusted performance of 0.0917, and Mean Deviation of 0.6877 to check out if the risk estimate we provide is consistent with the expected return of 0.15%. The fund secures a Beta (Market Risk) of -0.16, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Nationwide Mid are expected to decrease at a much lower rate. During the bear market, Nationwide Mid is likely to outperform the market.
Auto-correlation | 0.69 |
Good predictability
Nationwide Mid Cap has good predictability. Overlapping area represents the amount of predictability between Nationwide Mid time series from 27th of February 2024 to 13th of March 2024 and 13th of March 2024 to 28th of March 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 Mid Cap price movement. The serial correlation of 0.69 indicates that around 69.0% of current Nationwide Mid price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.69 | |
Spearman Rank Test | 0.71 | |
Residual Average | 0.0 | |
Price Variance | 0.05 |
Nationwide Mid Cap lagged returns against current returns
Autocorrelation, which is Nationwide Mid 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 Mid's mutual fund expected returns. We can calculate the autocorrelation of Nationwide Mid returns to help us make a trade decision. For example, suppose you find that Nationwide Mid 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 Mid 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 Mid mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nationwide Mid 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 Mid mutual fund over time.
Current vs Lagged Prices |
Timeline |
Nationwide Mid Lagged Returns
When evaluating Nationwide Mid's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nationwide Mid mutual fund have on its future price. Nationwide Mid 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 Mid autocorrelation shows the relationship between Nationwide Mid mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Nationwide Mid Cap.
Regressed Prices |
Timeline |
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When running Nationwide Mid's price analysis, check to measure Nationwide Mid's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Nationwide Mid is operating at the current time. Most of Nationwide Mid's value examination focuses on studying past and present price action to predict the probability of Nationwide Mid's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Nationwide Mid's price. Additionally, you may evaluate how the addition of Nationwide Mid to your portfolios can decrease your overall portfolio volatility.
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