Nationwide Mid Cap Fund Market Value
| GMXAX Fund | USD 16.40 0.01 0.06% |
| 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.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Nationwide Mid on March 26, 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 Government Street, Federated Mdt, Janus Enterprise, Victory Integrity, and Virtus Kar. 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 | 1.04 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 3.77 | |||
| Value At Risk | (1.62) | |||
| Potential Upside | 1.47 |
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 | 0.0661 | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0) | |||
| Treynor Ratio | 0.0605 |
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 0.0924, which conveys that the entity had a 0.0924% 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 1.04, mean deviation of 0.7312, and Risk Adjusted Performance of 0.0661 to check out if the risk estimate we provide is consistent with the expected return of 0.086%. The fund secures a Beta (Market Risk) of 1.37, which conveys a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Nationwide Mid will likely underperform.
Auto-correlation | 0.29 |
Poor predictability
Nationwide Mid Cap has poor predictability. Overlapping area represents the amount of predictability between Nationwide Mid time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th of April 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 0.29 indicates that nearly 29.0% of current Nationwide Mid price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.29 | |
| Spearman Rank Test | 0.28 | |
| 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 |
Building efficient market-beating portfolios requires time, education, and a lot of computing power!
The Portfolio Architect is an AI-driven system that provides multiple benefits to our users by leveraging cutting-edge machine learning algorithms, statistical analysis, and predictive modeling to automate the process of asset selection and portfolio construction, saving time and reducing human error for individual and institutional investors.
Try AI Portfolio ArchitectCheck out Nationwide Mid Correlation, Nationwide Mid Volatility and Nationwide Mid Alpha and Beta module to complement your research on Nationwide Mid. Note that the Nationwide Mid Cap information on this page should be used as a complementary analysis to other Nationwide Mid's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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.