Nuveen Dow Correlations

DIAX Etf

USD 15.20 0.15 1.00%

The current 90-days correlation between Nuveen Dow 30Sm and Nuveen SP 500 is 0.73 (i.e., Poor diversification). The correlation of Nuveen Dow is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Nuveen Dow Correlation With Market

Very weak diversification

The correlation between Nuveen Dow 30Sm and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Dow 30Sm and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Nuveen Dow 30Sm. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Nuveen Etf

0.64	TPZ	Tortoise Capital Series	Pair Corr
0.63	KLXY	KraneShares Trust	Pair Corr
0.7	BUYW	Main Buywrite ETF	Pair Corr
0.77	ZSEP	Innovator Equity Defined	Pair Corr
0.67	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.76	ARKG	ARK Genomic Revolution	Pair Corr
0.62	SIVR	abrdn Physical Silver	Pair Corr
0.64	QYLD	Global X NASDAQ	Pair Corr
0.62	JDVI	John Hancock Exchange	Pair Corr
0.61	EMXF	iShares ESG Advanced	Pair Corr
0.65	DDEC	First Trust Exchange	Pair Corr
0.67	FBY	YieldMax META Option	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.5	0.6	-0.67	0.75	0.3	-0.26	0.85	-0.83	-0.27	META
MSFT	-0.5		-0.66	0.43	-0.65	0.28	0.78	-0.51	0.62	-0.04	MSFT
UBER	0.6	-0.66		-0.21	0.75	-0.07	-0.54	0.78	-0.79	0.4	UBER
F	-0.67	0.43	-0.21		-0.38	-0.02	0.45	-0.39	0.63	0.71	F
T	0.75	-0.65	0.75	-0.38		-0.13	-0.48	0.71	-0.8	0.08	T
A	0.3	0.28	-0.07	-0.02	-0.13		0.34	0.44	0.04	-0.13	A
CRM	-0.26	0.78	-0.54	0.45	-0.48	0.34		-0.32	0.51	0.02	CRM
JPM	0.85	-0.51	0.78	-0.39	0.71	0.44	-0.32		-0.79	0.04	JPM
MRK	-0.83	0.62	-0.79	0.63	-0.8	0.04	0.51	-0.79		0.07	MRK
XOM	-0.27	-0.04	0.4	0.71	0.08	-0.13	0.02	0.04	0.07		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

JPM	+ 0.85	META
CRM	+ 0.78	MSFT
JPM	+ 0.78	UBER
T	+ 0.75	META
T	+ 0.75	UBER
XOM	+ 0.71	F

High negative correlations

MRK	- 0.83	META
MRK	- 0.8	T
MRK	- 0.79	JPM
MRK	- 0.79	UBER
F	- 0.67	META
UBER	- 0.66	MSFT

Nuveen Dow Competition Risk-Adjusted Indicators

There is a big difference between Nuveen Etf performing well and Nuveen Dow ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Nuveen Dow's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.36	0.25	0.20	(0.95)	1.44	(1.42)	3.22	(2.29)	7.11
MSFT	1.04	(0.08)	0.00	(0.27)	0.00	0.00	2.20	(2.14)	10.31
UBER	1.94	0.09	0.05	1.57	2.87	(1.93)	4.72	(3.13)	12.28
F	1.32	(0.16)	0.00	(0.23)	0.00	0.00	2.46	(2.89)	10.14
T	0.94	0.32	0.31	0.57	0.88	(1.13)	1.90	(1.75)	7.94
A	1.07	(0.05)	0.00	0.30	0.00	0.00	2.81	(2.16)	9.03
CRM	1.43	(0.18)	0.00	(0.30)	0.00	0.00	2.21	(3.81)	15.92
JPM	0.89	0.13	0.14	0.88	1.16	(0.97)	1.97	(1.51)	6.85
MRK	1.26	(0.13)	0.00	0.20	0.00	0.00	2.15	(2.24)	11.57
XOM	0.96	(0.14)	0.00	(0.29)	0.00	0.00	1.76	(2.50)	5.69

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