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