Nuveen Small Correlations

FMPFX Fund

USD 38.61 0.57 1.50%

The current 90-days correlation between Nuveen Small Cap and Hennessy Small Cap is 0.4 (i.e., Very weak diversification). The correlation of Nuveen Small 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 Small Correlation With Market

Very poor diversification

The correlation between Nuveen Small Cap and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Small Cap 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 Small Cap. 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 price.

Moving together with Nuveen Mutual Fund

0.95	EMGRX	Nuveen Small Cap	Pair Corr
0.75	NPSAX	Nuveen Preferred Sec	Pair Corr
0.75	NPSFX	Nuveen Preferred Sec	Pair Corr
0.76	NPSCX	Nuveen Preferred Sec	Pair Corr
0.74	NPSRX	Nuveen Preferred Sec	Pair Corr
0.99	FRMPX	Nuveen Small Cap	Pair Corr
0.93	FRSLX	Nuveen Mid Cap	Pair Corr
0.83	NQCCX	Nuveen Nwq Large	Pair Corr
0.82	NQCAX	Nuveen Nwq Large	Pair Corr
0.85	FACSX	Nuveen Mid Cap	Pair Corr
0.82	NQCRX	Nuveen Nwq Large	Pair Corr
0.68	NQGCX	Nuveen Nwq Global	Pair Corr
0.68	NQGAX	Nuveen Nwq Global	Pair Corr
0.68	NQGIX	Nuveen Nwq Global	Pair Corr
0.61	FAMTX	Nuveen Minnesota Int	Pair Corr
0.82	FSCCX	First American Investment	Pair Corr
0.82	FSCVX	Nuveen Small Cap	Pair Corr
0.82	FSCWX	Nuveen Small Cap	Pair Corr
0.82	FSCAX	Nuveen Small Cap	Pair Corr
0.85	FSEIX	Nuveen Mid Cap	Pair Corr
0.89	FAQIX	Nuveen Dividend Value	Pair Corr
0.85	FASEX	Nuveen Mid Cap	Pair Corr

Related Correlations Analysis

	FSCCX	NSCCX	MSCFX	TRRUX	CRMSX	IIF	RIV	SKSEX	HSFNX
FSCCX		0.89	0.96	0.83	0.99	-0.52	0.96	0.93	0.93	FSCCX
NSCCX	0.89		0.87	0.93	0.92	-0.46	0.91	0.97	0.87	NSCCX
MSCFX	0.96	0.87		0.87	0.95	-0.62	0.95	0.92	0.84	MSCFX
TRRUX	0.83	0.93	0.87		0.85	-0.48	0.89	0.93	0.77	TRRUX
CRMSX	0.99	0.92	0.95	0.85		-0.48	0.95	0.94	0.92	CRMSX
IIF	-0.52	-0.46	-0.62	-0.48	-0.48		-0.56	-0.48	-0.36	IIF
RIV	0.96	0.91	0.95	0.89	0.95	-0.56		0.94	0.9	RIV
SKSEX	0.93	0.97	0.92	0.93	0.94	-0.48	0.94		0.89	SKSEX
HSFNX	0.93	0.87	0.84	0.77	0.92	-0.36	0.9	0.89		HSFNX
	FSCCX	NSCCX	MSCFX	TRRUX	CRMSX	IIF	RIV	SKSEX	HSFNX

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

CRMSX	+ 0.99	FSCCX
SKSEX	+ 0.97	NSCCX
MSCFX	+ 0.96	FSCCX
RIV	+ 0.96	FSCCX
CRMSX	+ 0.95	MSCFX
RIV	+ 0.95	MSCFX

High negative correlations

IIF	- 0.62	MSCFX
RIV	- 0.56	IIF
IIF	- 0.52	FSCCX
SKSEX	- 0.48	IIF
IIF	- 0.48	CRMSX
IIF	- 0.48	TRRUX

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Small 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 Small'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
FSCCX	0.79	0.09	0.10	0.14	0.70	(0.94)	2.31	(1.35)	4.92
NSCCX	1.08	0.27	0.26	0.29	0.71	(1.30)	2.64	(1.78)	14.57
MSCFX	0.91	0.16	0.16	0.19	0.73	(1.07)	2.43	(1.90)	5.31
TRRUX	0.27	0.07	0.09	0.28	0.00	(0.35)	0.51	(0.42)	4.52
CRMSX	0.84	0.10	0.10	0.15	0.84	(0.93)	2.18	(1.61)	5.73
IIF	0.57	(0.07)	0.00	(0.12)	0.00	0.00	0.94	(0.95)	4.47
RIV	0.46	0.09	0.09	0.27	0.32	(0.55)	1.09	(0.82)	2.90
SKSEX	0.93	0.22	0.22	0.31	0.66	(1.17)	2.44	(1.71)	8.72
HSFNX	1.30	0.35	0.29	0.40	0.85	(1.76)	3.76	(1.57)	14.51

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