Nationwide Fund Class Fund Market Value
| NWFAX Fund | USD 31.06 0.40 1.27% |
| Symbol | Nationwide |
Nationwide Fund '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 Fund'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 Fund.
| 03/17/2024 |
| 04/16/2024 |
If you would invest 0.00 in Nationwide Fund on March 17, 2024 and sell it all today you would earn a total of 0.00 from holding Nationwide Fund Class or generate 0.0% return on investment in Nationwide Fund over 30 days. Nationwide Fund is related to or competes with Nationwide Investor, Nationwide International, Nationwide Investor, Nationwide Investor, Nationwide Investor, Nationwide Highmark, and Nationwide Highmark. The fund invests in a diversified portfolio of common stocks to produce an overall blended equity portfolio consisting o... More
Nationwide Fund 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 Fund'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 Fund Class upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7391 | |||
| Information Ratio | 0.0496 | |||
| Maximum Drawdown | 3.57 | |||
| Value At Risk | (1.34) | |||
| Potential Upside | 1.29 |
Nationwide Fund Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nationwide Fund's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nationwide Fund's standard deviation. In reality, there are many statistical measures that can use Nationwide Fund historical prices to predict the future Nationwide Fund's volatility.| Risk Adjusted Performance | 0.0842 | |||
| Jensen Alpha | 0.0378 | |||
| Total Risk Alpha | 0.0263 | |||
| Sortino Ratio | 0.0513 | |||
| Treynor Ratio | 0.0905 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nationwide Fund'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 Fund Class Backtested Returns
We consider Nationwide Fund very steady. Nationwide Fund Class has Sharpe Ratio of 0.15, which conveys that the entity had a 0.15% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Nationwide Fund, which you can use to evaluate the volatility of the fund. Please verify Nationwide Fund's Downside Deviation of 0.7391, mean deviation of 0.5915, and Risk Adjusted Performance of 0.0842 to check out if the risk estimate we provide is consistent with the expected return of 0.12%. The fund secures a Beta (Market Risk) of 1.0, which conveys a somewhat significant risk relative to the market. Nationwide Fund returns are very sensitive to returns on the market. As the market goes up or down, Nationwide Fund is expected to follow.
Auto-correlation | -0.57 |
Good reverse predictability
Nationwide Fund Class has good reverse predictability. Overlapping area represents the amount of predictability between Nationwide Fund time series from 17th of March 2024 to 1st of April 2024 and 1st of April 2024 to 16th 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 Fund Class price movement. The serial correlation of -0.57 indicates that roughly 57.0% of current Nationwide Fund price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.57 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Nationwide Fund Class lagged returns against current returns
Autocorrelation, which is Nationwide Fund 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 Fund's mutual fund expected returns. We can calculate the autocorrelation of Nationwide Fund returns to help us make a trade decision. For example, suppose you find that Nationwide Fund 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 Fund 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 Fund mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nationwide Fund 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 Fund mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Nationwide Fund Lagged Returns
When evaluating Nationwide Fund's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nationwide Fund mutual fund have on its future price. Nationwide Fund 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 Fund autocorrelation shows the relationship between Nationwide Fund mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Nationwide Fund Class.
Regressed Prices |
| Timeline |
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Try AI Portfolio ArchitectCheck out Nationwide Fund Correlation, Nationwide Fund Volatility and Nationwide Fund Alpha and Beta module to complement your research on Nationwide Fund. Note that the Nationwide Fund Class information on this page should be used as a complementary analysis to other Nationwide Fund'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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Nationwide Fund 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.