Nuveen Short Correlations

FALTX Fund

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The current 90-days correlation between Nuveen Short Term and Vanguard Global Credit is 0.92 (i.e., Almost no diversification). The correlation of Nuveen Short 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 Short Correlation With Market

Good diversification

The correlation between Nuveen Short Term and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Short Term 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 Short Term. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with NUVEEN Mutual Fund

0.63	FREAX	Nuveen Real Estate	Pair Corr
0.61	FREGX	Nuveen Real Estate	Pair Corr
0.8	FRKSX	Nuveen Kansas Municipal	Pair Corr
0.65	FRLCX	Nuveen Real Estate	Pair Corr
0.76	FAARX	Nuveen All American	Pair Corr
0.76	FAAWX	Nuveen All American	Pair Corr
0.82	FACCX	Nuveen All American	Pair Corr
0.67	FAFPX	Nuveen Missouri Municipal	Pair Corr
0.83	FAFOX	Nuveen Kansas Municipal	Pair Corr
0.74	FAFNX	Nuveen Michigan Municipal	Pair Corr
0.78	FAFMX	Nuveen Ohio Municipal	Pair Corr
0.83	FAFLX	Nuveen Louisiana Mun	Pair Corr
0.67	FAFKX	Nuveen Orado Municipal	Pair Corr
0.78	FAFJX	Nuveen Limited Term	Pair Corr
0.62	FAMAX	Nuveen Minnesota Int	Pair Corr
0.61	FAMTX	Nuveen Minnesota Int	Pair Corr
0.62	FARCX	Nuveen Real Estate	Pair Corr

Moving against NUVEEN Mutual Fund

0.79	NQCAX	Nuveen Nwq Large	Pair Corr
0.78	NQCCX	Nuveen Nwq Large	Pair Corr
0.78	NQCRX	Nuveen Nwq Large	Pair Corr
0.77	FRSLX	Nuveen Mid Cap	Pair Corr
0.74	FRMPX	Nuveen Small Cap	Pair Corr
0.73	EMGRX	Nuveen Small Cap	Pair Corr
0.66	FSCCX	First American Investment	Pair Corr
0.64	FACSX	Nuveen Mid Cap	Pair Corr
0.76	NQVAX	Nuveen Nwq Multi	Pair Corr
0.76	NQVRX	Nuveen Nwq Multi	Pair Corr
0.75	NQVCX	Nuveen Nwq Multi	Pair Corr
0.67	FSCWX	Nuveen Small Cap	Pair Corr
0.66	FSCVX	Nuveen Small Cap	Pair Corr
0.66	FSCAX	Nuveen Small Cap	Pair Corr
0.65	FSEIX	Nuveen Mid Cap	Pair Corr
0.65	FASEX	Nuveen Mid Cap	Pair Corr

Related Correlations Analysis

	VGCAX	MFIRX	BXDCX	BBINX	RGHYX	CWFIX
VGCAX		0.78	0.31	0.84	0.17	0.08	VGCAX
MFIRX	0.78		0.76	0.65	0.69	0.61	MFIRX
BXDCX	0.31	0.76		0.34	0.9	0.85	BXDCX
BBINX	0.84	0.65	0.34		0.17	0.11	BBINX
RGHYX	0.17	0.69	0.9	0.17		0.96	RGHYX
CWFIX	0.08	0.61	0.85	0.11	0.96		CWFIX
	VGCAX	MFIRX	BXDCX	BBINX	RGHYX	CWFIX

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Risk-Adjusted Indicators

There is a big difference between NUVEEN Mutual Fund performing well and Nuveen Short Mutual Fund 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 Short'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
VGCAX	0.17	0.00	(0.54)	0.45	0.20	(0.21)	0.37	(0.36)	0.98
MFIRX	0.09	0.01	(0.50)	(0.77)	0.00	(0.23)	0.19	(0.19)	0.76
BXDCX	0.09	0.01	(0.84)	(0.53)	0.00	(0.16)	0.22	(0.11)	0.65
BBINX	0.11	0.00	(0.44)	0.10	0.16	(0.18)	0.29	(0.29)	1.07
RGHYX	0.08	0.01	(0.66)	0.28	0.00	(0.13)	0.20	(0.20)	0.51
CWFIX	0.07	0.00	(0.88)	0.19	0.00	(0.12)	0.11	(0.11)	0.42

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