Nuveen High Correlations

Mutual Funds . USA . 
Fund . Nuveen High Income
FCSIX Fund  USD 6.68  0.01  0.15%   
The current 90-days correlation between Nuveen High Income and Dws Global Macro is 0.03 (i.e., Significant 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

Very poor diversification

The correlation between Nuveen High Income and DJI is 0.89 (i.e., Very poor 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

  0.78TEMRX Tiaa Cref EmergingPairCorr
  0.75TEQLX Tiaa Cref EmergingPairCorr
  0.92EMGRX Nuveen Small CapPairCorr
  0.7FREAX Nuveen Real EstatePairCorr
  0.71FREGX Nuveen Real EstatePairCorr
  0.9FRMPX Nuveen Small CapPairCorr
  0.88FRSLX Nuveen Mid CapPairCorr
  0.87FACSX Nuveen Mid CapPairCorr
  0.7FACCX Nuveen All AmericanPairCorr
  0.69FAFNX Nuveen Michigan MunicipalPairCorr
  0.93NQGIX Nuveen Nwq GlobalPairCorr
  0.9FAMTX Nuveen Minnesota IntPairCorr
  0.85FSCCX First American InvestmentPairCorr
  0.85FSCWX Nuveen Small CapPairCorr
  0.88FSEIX Nuveen Mid CapPairCorr
  0.71FARCX Nuveen Real EstatePairCorr
  0.97FSHAX Nuveen Short TermPairCorr
  0.95NQVCX Nuveen Nwq MultiPairCorr
  0.96NQWFX Nuveen Nwq FlexiblePairCorr
  0.84NRIAX Nuveen Real AssetPairCorr
  0.91NSCFX Nuveen Nwq SmallPairCorr
  0.89NSCCX Nuveen Nwq SmallPairCorr
  0.91NSCRX Nuveen Nwq SmallPairCorr
  0.86TIEIX Tiaa Cref EquityPairCorr
  0.74NAWSX Nuveen California HighPairCorr
  0.7NSIOX Nuveen Strategic MunPairCorr
  0.87TIIRX Tiaa Cref GrowthPairCorr
  0.92NSMAX Nuveen Nwq SmallmidPairCorr
  0.91NSMCX Nuveen Nwq SmallmidPairCorr
  0.92NSMRX Nuveen Nwq SmallmidPairCorr
  0.76FCNRX Nuveen North CarolinaPairCorr
  0.79FCOTX Nuveen Orado MunicipalPairCorr
  0.76FCORX Nuveen Orado MunicipalPairCorr
  0.99TIYRX Tiaa-cref High-yieldPairCorr
  0.83NBMAX Nuveen MassachusettsPairCorr
  0.84NUGIX Nuveen Santa BarbaraPairCorr
  0.68FWCCX Nuveen Wisconsin MunPairCorr

Related Correlations Analysis


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.

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