Nationwide Investor Destinations Fund Market Value
NDAAX Fund | USD 9.65 0.09 0.94% |
Symbol | Nationwide |
Nationwide Investor '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 Investor'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 Investor.
05/04/2022 |
| 04/23/2024 |
If you would invest 0.00 in Nationwide Investor on May 4, 2022 and sell it all today you would earn a total of 0.00 from holding Nationwide Investor Destinations or generate 0.0% return on investment in Nationwide Investor over 720 days. Nationwide Investor is related to or competes with Nationwide Investor, Nationwide Investor, Nationwide Investor, Nationwide Global, Nationwide Global, Nationwide Growth, and Nationwide Global. The fund is a fund of funds that invests primarily in affiliated mutual funds representing a variety of asset classes More
Nationwide Investor 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 Investor'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 Investor Destinations upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 0.7461 | |||
Information Ratio | (0.03) | |||
Maximum Drawdown | 3.18 | |||
Value At Risk | (1.16) | |||
Potential Upside | 1.02 |
Nationwide Investor Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nationwide Investor's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nationwide Investor's standard deviation. In reality, there are many statistical measures that can use Nationwide Investor historical prices to predict the future Nationwide Investor's volatility.Risk Adjusted Performance | 0.0638 | |||
Jensen Alpha | (0.02) | |||
Total Risk Alpha | (0.03) | |||
Sortino Ratio | (0.03) | |||
Treynor Ratio | 0.0576 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nationwide Investor'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 Investor Backtested Returns
We consider Nationwide Investor very steady. Nationwide Investor has Sharpe Ratio of 0.0743, which conveys that the entity had a 0.0743% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Nationwide Investor, which you can use to evaluate the volatility of the fund. Please verify Nationwide Investor's Risk Adjusted Performance of 0.0638, downside deviation of 0.7461, and Mean Deviation of 0.5423 to check out if the risk estimate we provide is consistent with the expected return of 0.0516%. The fund secures a Beta (Market Risk) of 1.04, which conveys a somewhat significant risk relative to the market. Nationwide Investor returns are very sensitive to returns on the market. As the market goes up or down, Nationwide Investor is expected to follow.
Auto-correlation | 0.52 |
Modest predictability
Nationwide Investor Destinations has modest predictability. Overlapping area represents the amount of predictability between Nationwide Investor time series from 4th of May 2022 to 29th of April 2023 and 29th of April 2023 to 23rd 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 Investor price movement. The serial correlation of 0.52 indicates that about 52.0% of current Nationwide Investor price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.52 | |
Spearman Rank Test | 0.33 | |
Residual Average | 0.0 | |
Price Variance | 0.32 |
Nationwide Investor lagged returns against current returns
Autocorrelation, which is Nationwide Investor 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 Investor's mutual fund expected returns. We can calculate the autocorrelation of Nationwide Investor returns to help us make a trade decision. For example, suppose you find that Nationwide Investor 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 Investor 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 Investor mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nationwide Investor 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 Investor mutual fund over time.
Current vs Lagged Prices |
Timeline |
Nationwide Investor Lagged Returns
When evaluating Nationwide Investor's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nationwide Investor mutual fund have on its future price. Nationwide Investor 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 Investor autocorrelation shows the relationship between Nationwide Investor mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Nationwide Investor Destinations.
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 Investor 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 Investor's short interest history, or implied volatility extrapolated from Nationwide Investor options trading.
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Try AI Portfolio ArchitectCheck out Nationwide Investor Correlation, Nationwide Investor Volatility and Nationwide Investor Alpha and Beta module to complement your research on Nationwide Investor. Note that the Nationwide Investor information on this page should be used as a complementary analysis to other Nationwide Investor'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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Nationwide Investor 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.