Nationwide Mid Cap Fund Market Value
| GMXRX Fund | USD 16.11 0.23 1.41% |
| 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.
| 04/07/2024 |
| 05/07/2024 |
If you would invest 0.00 in Nationwide Mid on April 7, 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 Federated Mid-cap, Dreyfus Midcap, and Nationwide. 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 | 1.07 | |||
| Information Ratio | 0.0394 | |||
| Maximum Drawdown | 3.81 | |||
| Value At Risk | (1.60) | |||
| Potential Upside | 1.45 |
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 | 0.0791 | |||
| Jensen Alpha | 0.0965 | |||
| Total Risk Alpha | 0.0057 | |||
| Sortino Ratio | 0.0336 | |||
| Treynor Ratio | 1.35 |
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 0.11, which conveys that the entity had a 0.11% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Nationwide Mid, which you can use to evaluate the volatility of the fund. Please verify Nationwide Mid's Risk Adjusted Performance of 0.0791, mean deviation of 0.7168, and Downside Deviation of 1.07 to check out if the risk estimate we provide is consistent with the expected return of 0.0999%. The fund secures a Beta (Market Risk) of 0.075, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Nationwide Mid's returns are expected to increase less than the market. However, during the bear market, the loss of holding Nationwide Mid is expected to be smaller as well.
Auto-correlation | -0.24 |
Weak reverse predictability
Nationwide Mid Cap has weak reverse predictability. Overlapping area represents the amount of predictability between Nationwide Mid time series from 7th of April 2024 to 22nd of April 2024 and 22nd of April 2024 to 7th of May 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 -0.24 indicates that over 24.0% of current Nationwide Mid price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.24 | |
| Spearman Rank Test | -0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
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 |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Nationwide Mid in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Nationwide Mid's short interest history, or implied volatility extrapolated from Nationwide Mid options trading.
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Nationwide Mid technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.