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

NuveenDowDiversified AwayNuveenDowDiversified Away100%

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

  0.64TPZ Tortoise Capital SeriesPairCorr
  0.63KLXY KraneShares TrustPairCorr
  0.7BUYW Main Buywrite ETFPairCorr
  0.77ZSEP Innovator Equity DefinedPairCorr
  0.67JEPQ JPMorgan Nasdaq EquityPairCorr
  0.76ARKG ARK Genomic RevolutionPairCorr
  0.62SIVR abrdn Physical SilverPairCorr
  0.64QYLD Global X NASDAQPairCorr
  0.62JDVI John Hancock ExchangePairCorr
  0.61EMXF iShares ESG AdvancedPairCorr
  0.65DDEC First Trust ExchangePairCorr
  0.67FBY YieldMax META OptionPairCorr

Related Correlations Analysis

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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   
JPMMETA
CRMMSFT
JPMUBER
TMETA
TUBER
XOMF
  
High negative correlations   
MRKMETA
MRKT
MRKJPM
MRKUBER
FMETA
UBERMSFT

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.36  0.25  0.20 (0.95) 1.44 
 3.22 
 7.11 
MSFT  1.04 (0.08) 0.00 (0.27) 0.00 
 2.20 
 10.31 
UBER  1.94  0.09  0.05  1.57  2.87 
 4.72 
 12.28 
F  1.32 (0.16) 0.00 (0.23) 0.00 
 2.46 
 10.14 
T  0.94  0.32  0.31  0.57  0.88 
 1.90 
 7.94 
A  1.07 (0.05) 0.00  0.30  0.00 
 2.81 
 9.03 
CRM  1.43 (0.18) 0.00 (0.30) 0.00 
 2.21 
 15.92 
JPM  0.89  0.13  0.14  0.88  1.16 
 1.97 
 6.85 
MRK  1.26 (0.13) 0.00  0.20  0.00 
 2.15 
 11.57 
XOM  0.96 (0.14) 0.00 (0.29) 0.00 
 1.76 
 5.69 

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