Nationwide E Plus Fund Market Value
| NWCPX Fund | USD 8.69 0.05 0.58% |
| Symbol | Nationwide |
Nationwide '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'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.
| 04/24/2023 |
| 04/18/2024 |
If you would invest 0.00 in Nationwide on April 24, 2023 and sell it all today you would earn a total of 0.00 from holding Nationwide E Plus or generate 0.0% return on investment in Nationwide over 360 days. Nationwide is related to or competes with HUMANA, Thrivent High, Via Renewables, T Rowe, and FT Cboe. The fund invests at least 80 percent of its net assets in fixed-income securities More
Nationwide 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'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 E Plus upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 2.03 | |||
| Value At Risk | (0.80) | |||
| Potential Upside | 0.4551 |
Nationwide Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nationwide's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nationwide's standard deviation. In reality, there are many statistical measures that can use Nationwide historical prices to predict the future Nationwide's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.08) | |||
| Treynor Ratio | (0.18) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nationwide'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 E Plus Backtested Returns
Nationwide E Plus has Sharpe Ratio of -0.0512, which conveys that the entity had a -0.0512% return per unit of risk over the last 3 months. Nationwide exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nationwide's Risk Adjusted Performance of (0.06), standard deviation of 0.41, and Mean Deviation of 0.3171 to check out the risk estimate we provide. The fund secures a Beta (Market Risk) of 0.28, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Nationwide's returns are expected to increase less than the market. However, during the bear market, the loss of holding Nationwide is expected to be smaller as well.
Auto-correlation | -0.34 |
Poor reverse predictability
Nationwide E Plus has poor reverse predictability. Overlapping area represents the amount of predictability between Nationwide time series from 24th of April 2023 to 21st of October 2023 and 21st of October 2023 to 18th 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 E Plus price movement. The serial correlation of -0.34 indicates that nearly 34.0% of current Nationwide price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.34 | |
| Spearman Rank Test | -0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
Nationwide E Plus lagged returns against current returns
Autocorrelation, which is Nationwide 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's mutual fund expected returns. We can calculate the autocorrelation of Nationwide returns to help us make a trade decision. For example, suppose you find that Nationwide 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 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 mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nationwide 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 mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Nationwide Lagged Returns
When evaluating Nationwide's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nationwide mutual fund have on its future price. Nationwide 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 autocorrelation shows the relationship between Nationwide mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Nationwide E Plus.
Regressed Prices |
| Timeline |
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