Nuveen High Correlations

Mutual Funds . USA . 
Fund . Nuveen High Income
FCSIX Fund  USD 6.65  0.01  0.15%   
The current 90-days correlation between Nuveen High Income and Dreyfusstandish Global Fixed is 0.01 (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

Almost no diversification

The correlation between Nuveen High Income and DJI is 0.9 (i.e., Almost no 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

  0.93TEMRX Tiaa Cref EmergingPairCorr
  0.91TEQLX Tiaa Cref EmergingPairCorr
  0.88EMGRX Nuveen Small CapPairCorr
  0.78FREAX Nuveen Real EstatePairCorr
  0.78FREGX Nuveen Real EstatePairCorr
  0.96NPSAX Nuveen Preferred SecPairCorr
  0.95NPSFX Nuveen Preferred SecPairCorr
  0.96NPSCX Nuveen Preferred SecPairCorr
  0.96NPSRX Nuveen Preferred SecPairCorr
  0.87FRKSX Nuveen Kansas MunicipalPairCorr
  0.63FRMPX Nuveen Small CapPairCorr
  0.78FRLCX Nuveen Real EstatePairCorr
  0.83FRSLX Nuveen Mid CapPairCorr
  0.87FAARX Nuveen All AmericanPairCorr
  0.9NQCCX Nuveen Nwq LargePairCorr
  0.92NQCAX Nuveen Nwq LargePairCorr
  0.86FAAWX Nuveen All AmericanPairCorr
  0.86FACSX Nuveen Mid CapPairCorr
  0.85FACCX Nuveen All AmericanPairCorr
  0.92NQCRX Nuveen Nwq LargePairCorr
  0.81FAFPX Nuveen Missouri MunicipalPairCorr
  0.87FAFOX Nuveen Kansas MunicipalPairCorr
  0.76FAFNX Nuveen Michigan MunicipalPairCorr
  0.91NQGCX Nuveen Nwq GlobalPairCorr
  0.81FAFMX Nuveen Ohio MunicipalPairCorr
  0.83FAFLX Nuveen Louisiana MunPairCorr
  0.78FAFKX Nuveen Orado MunicipalPairCorr
  0.92NQGAX Nuveen Nwq GlobalPairCorr
  0.9FAFJX Nuveen Limited TermPairCorr
  0.92NQGIX Nuveen Nwq GlobalPairCorr
  0.92FAMAX Nuveen Minnesota IntPairCorr
  0.91FAMTX Nuveen Minnesota IntPairCorr
  0.87FSCCX First American InvestmentPairCorr
  0.86FSCVX Nuveen Small CapPairCorr
  0.87FSCWX Nuveen Small CapPairCorr
  0.86FSCAX Nuveen Small CapPairCorr
  0.87FSEIX Nuveen Mid CapPairCorr
  0.86FAQIX Nuveen Dividend ValuePairCorr
  0.78FARCX Nuveen Real EstatePairCorr
  0.87FASEX Nuveen Mid CapPairCorr

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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