Nuveen Dividend Correlations

FFEFX Fund

USD 15.12 0.14 0.93%

The current 90-days correlation between Nuveen Dividend Value and Nuveen Small Cap is 0.69 (i.e., Poor diversification). The correlation of Nuveen Dividend 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 Dividend Correlation With Market

Weak diversification

The correlation between Nuveen Dividend Value and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Dividend Value 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 Dividend Value. 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 census.

Moving together with Nuveen Mutual Fund

0.77	EMGRX	Nuveen Small Cap	Pair Corr
0.97	FREAX	Nuveen Real Estate	Pair Corr
0.97	FREGX	Nuveen Real Estate	Pair Corr
0.97	FRLCX	Nuveen Real Estate	Pair Corr
0.97	NQCCX	Nuveen Nwq Large	Pair Corr
0.93	NQCAX	Nuveen Nwq Large	Pair Corr
0.96	FACSX	Nuveen Mid Cap	Pair Corr
0.93	NQCRX	Nuveen Nwq Large	Pair Corr
0.61	FAFOX	Nuveen Kansas Municipal	Pair Corr
0.69	FAFNX	Nuveen Michigan Municipal	Pair Corr
0.67	FAFMX	Nuveen Ohio Municipal	Pair Corr
0.61	FAFLX	Nuveen Louisiana Mun	Pair Corr
0.95	FSEIX	Nuveen Mid Cap	Pair Corr
0.98	FAQIX	Nuveen Dividend Value	Pair Corr
0.97	FARCX	Nuveen Real Estate	Pair Corr
0.95	FASEX	Nuveen Mid Cap	Pair Corr

Related Correlations Analysis

	EMGRX	FREAX	FREGX	NPSAX	NPSFX	NPSCX	NPSRX	FRKSX	FRMPX	FRLCX
EMGRX		0.66	0.66	0.44	0.45	0.47	0.22	0.73	0.81	0.65	EMGRX
FREAX	0.66		1.0	0.13	0.12	0.26	-0.23	0.48	0.14	1.0	FREAX
FREGX	0.66	1.0		0.14	0.13	0.27	-0.22	0.48	0.15	1.0	FREGX
NPSAX	0.44	0.13	0.14		0.99	0.99	0.72	0.65	0.5	0.13	NPSAX
NPSFX	0.45	0.12	0.13	0.99		0.98	0.75	0.63	0.51	0.12	NPSFX
NPSCX	0.47	0.26	0.27	0.99	0.98		0.65	0.67	0.45	0.26	NPSCX
NPSRX	0.22	-0.23	-0.22	0.72	0.75	0.65		0.44	0.5	-0.23	NPSRX
FRKSX	0.73	0.48	0.48	0.65	0.63	0.67	0.44		0.58	0.47	FRKSX
FRMPX	0.81	0.14	0.15	0.5	0.51	0.45	0.5	0.58		0.13	FRMPX
FRLCX	0.65	1.0	1.0	0.13	0.12	0.26	-0.23	0.47	0.13		FRLCX
	EMGRX	FREAX	FREGX	NPSAX	NPSFX	NPSCX	NPSRX	FRKSX	FRMPX	FRLCX

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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

FREGX	+ 1.0	FREAX
FRLCX	+ 1.0	FREAX
FRLCX	+ 1.0	FREGX
NPSFX	+ 0.99	NPSAX
NPSCX	+ 0.99	NPSAX
NPSCX	+ 0.98	NPSFX

High negative correlations

FRLCX	- 0.23	NPSRX
NPSRX	- 0.23	FREAX
NPSRX	- 0.22	FREGX

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Dividend 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 Dividend'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
EMGRX	0.94	0.03	(0.01)	0.14	1.11	(1.03)	1.75	(1.42)	10.34
FREAX	0.92	(0.20)	0.00	(0.31)	0.00	0.00	1.31	(1.79)	6.53
FREGX	0.92	(0.20)	0.00	(0.30)	0.00	0.00	1.32	(1.89)	6.39
NPSAX	0.13	0.00	(0.48)	0.25	0.09	(0.18)	0.32	(0.26)	1.10
NPSFX	0.14	0.00	(0.46)	(0.98)	0.09	(0.21)	0.32	(0.32)	1.10
NPSCX	0.13	0.00	(0.51)	(0.29)	0.11	(0.19)	0.32	(0.26)	1.10
NPSRX	0.14	0.01	(0.45)	0.30	0.03	(0.19)	0.45	(0.26)	1.10
FRKSX	0.18	0.00	(0.22)	0.09	0.23	(0.22)	0.40	(0.40)	1.31
FRMPX	1.02	0.10	0.04	0.30	1.26	(1.03)	2.00	(1.84)	9.36
FRLCX	0.92	(0.21)	0.00	(0.32)	0.00	0.00	1.37	(1.86)	6.83

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