Nuveen High Correlations

FCSIX Fund

USD 6.73 0.01 0.15%

The current 90-days correlation between Nuveen High Income and Putnam Convertible Securities is 0.2 (i.e., Modest diversification). The correlation of Nuveen High 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 High Correlation With Market

Modest diversification

The correlation between Nuveen High Income and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen High Income 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 High Income. 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 gross domestic product.

Moving together with Nuveen Mutual Fund

0.61	NPSFX	Nuveen Preferred Sec	Pair Corr
0.87	NPSRX	Nuveen Preferred Sec	Pair Corr
0.67	FRMPX	Nuveen Small Cap	Pair Corr
0.72	FRSLX	Nuveen Mid Cap	Pair Corr
0.63	FAMAX	Nuveen Minnesota Int	Pair Corr
0.95	FSHAX	Nuveen Short Term	Pair Corr
0.79	FSFRX	Nuveen Strategic Income	Pair Corr

Moving against Nuveen Mutual Fund

0.42	FRLCX	Nuveen Real Estate	Pair Corr
0.41	FREAX	Nuveen Real Estate	Pair Corr
0.4	FREGX	Nuveen Real Estate	Pair Corr
0.41	FARCX	Nuveen Real Estate	Pair Corr

Related Correlations Analysis

	PCNTX	NCIDX	XAVKX	GCV	XNCVX	LCFYX
PCNTX		0.95	0.93	0.82	0.97	0.9	PCNTX
NCIDX	0.95		0.88	0.88	0.92	0.93	NCIDX
XAVKX	0.93	0.88		0.72	0.95	0.76	XAVKX
GCV	0.82	0.88	0.72		0.81	0.93	GCV
XNCVX	0.97	0.92	0.95	0.81		0.86	XNCVX
LCFYX	0.9	0.93	0.76	0.93	0.86		LCFYX
	PCNTX	NCIDX	XAVKX	GCV	XNCVX	LCFYX

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Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen High 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 High'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
PCNTX	0.50	0.05	(0.05)	1.13	0.57	(0.59)	1.05	(0.92)	3.52
NCIDX	0.48	0.06	(0.03)	1.52	0.55	(0.53)	1.03	(0.84)	3.30
XAVKX	0.47	0.04	(0.07)	0.75	0.62	(0.47)	0.90	(0.95)	3.14
GCV	0.99	0.10	0.03	0.32	1.16	(1.05)	1.89	(1.55)	5.96
XNCVX	0.63	0.06	(0.03)	5.91	0.78	(0.72)	1.29	(1.26)	4.08
LCFYX	0.55	0.08	0.02	0.42	0.57	(0.65)	1.12	(1.03)	3.79

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