Nuveen Preferred Correlations

JPC Fund

USD 8.27 0.01 0.12%

The current 90-days correlation between Nuveen Preferred Income and Nuveen Municipal Credit is 0.12 (i.e., Average diversification). The correlation of Nuveen Preferred 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.

Nuveen Preferred Correlation With Market

Very poor diversification

The correlation between Nuveen Preferred Income 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 Preferred Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Nuveen Preferred Income. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Nuveen Fund

0.66	RYMEX	Commodities Strategy	Pair Corr
0.7	RYMJX	Commodities Strategy	Pair Corr
0.7	RYMBX	Commodities Strategy	Pair Corr
0.78	BRUFX	Bruce Fund Bruce	Pair Corr
0.66	SPGSX	State Street Premier	Pair Corr
0.78	KF	Korea Closed	Pair Corr
0.75	SPGEX	Symmetry Panoramic Global	Pair Corr
0.85	VHYLX	Valic Company I	Pair Corr
0.83	HLDRX	Hartford Emerging	Pair Corr
0.86	SWYLX	Schwab Target 2020	Pair Corr
0.69	FCMAX	Fidelity California	Pair Corr
0.64	BZOIX	Collegeadvantage 529	Pair Corr
0.78	TEOJX	Transamerica Emerging	Pair Corr
0.65	USLUX	Us Global Investors	Pair Corr
0.89	DFSVX	Us Small Cap	Pair Corr
0.82	RSPMX	Victory Rs Partners	Pair Corr
0.83	JGCCX	Janus Global Allocation	Pair Corr
0.63	CUSUX	Six Circles Unconstrained	Pair Corr
0.77	MFFPX	Mfs Lifetime 2050	Pair Corr
0.8	BLNAX	Balanced Fund Adviser	Pair Corr
0.78	CCLTX	American Funds 2065	Pair Corr
0.81	RPFDX	T Rowe Price	Pair Corr
0.72	MVALX	Meridian Contrarian	Pair Corr
0.83	MHESX	Mh Elite Select	Pair Corr
0.62	PFRIX	Prudential Floating Rate	Pair Corr
0.67	ESMYX	Invesco European Small	Pair Corr
0.73	BWLYX	American Beacon Bridgeway	Pair Corr
0.71	JAVTX	Janus Venture	Pair Corr
0.76	RRTNX	T Rowe Price	Pair Corr

Related Correlations Analysis

	NZF	PTY	NVG	ACP-PA	ETY	NAD	EXG	YAFFX	YAFIX	ADX
NZF		-0.12	-0.02	-0.08	0.1	0.21	0.21	0.09	0.09	-0.01	NZF
PTY	-0.12		0.59	0.65	0.48	0.34	0.09	-0.05	-0.05	0.04	PTY
NVG	-0.02	0.59		0.63	0.09	0.6	0.37	0.35	0.35	0.18	NVG
ACP-PA	-0.08	0.65	0.63		0.13	0.34	0.29	0.22	0.22	0.28	ACP-PA
ETY	0.1	0.48	0.09	0.13		0.21	0.15	-0.14	-0.14	0.18	ETY
NAD	0.21	0.34	0.6	0.34	0.21		0.49	0.44	0.44	0.29	NAD
EXG	0.21	0.09	0.37	0.29	0.15	0.49		0.94	0.94	0.83	EXG
YAFFX	0.09	-0.05	0.35	0.22	-0.14	0.44	0.94		1.0	0.78	YAFFX
YAFIX	0.09	-0.05	0.35	0.22	-0.14	0.44	0.94	1.0		0.78	YAFIX
ADX	-0.01	0.04	0.18	0.28	0.18	0.29	0.83	0.78	0.78		ADX
	NZF	PTY	NVG	ACP-PA	ETY	NAD	EXG	YAFFX	YAFIX	ADX

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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

YAFIX	+ 1.0	YAFFX
YAFFX	+ 0.94	EXG
YAFIX	+ 0.94	EXG
ADX	+ 0.83	EXG
ADX	+ 0.78	YAFFX
ADX	+ 0.78	YAFIX

High negative correlations

YAFIX	- 0.14	ETY
YAFFX	- 0.14	ETY
PTY	- 0.12	NZF
ACP-PA	- 0.08	NZF
YAFIX	- 0.05	PTY
YAFFX	- 0.05	PTY

Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen Preferred 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 Preferred'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
NZF	0.41	0.03	(0.06)	0.31	0.47	(0.43)	0.87	(0.57)	2.88
PTY	0.34	(0.08)	0.00	(0.17)	0.00	0.00	0.85	(0.79)	2.51
NVG	0.36	0.07	0.01	0.78	0.13	(0.47)	0.96	(0.55)	2.72
ACP-PA	0.44	(0.03)	0.00	(0.12)	0.00	0.00	1.14	(0.82)	2.33
ETY	0.66	(0.11)	0.00	(0.09)	0.00	0.00	1.38	(1.35)	3.53
NAD	0.38	0.05	(0.07)	2.28	0.32	(0.45)	1.00	(0.74)	2.35
EXG	0.60	0.05	0.02	0.16	0.64	(0.67)	1.26	(1.28)	3.15
YAFFX	0.83	0.38	0.35	1.44	0.30	(1.01)	1.41	(1.01)	15.86
YAFIX	0.83	0.38	0.36	1.46	0.31	(1.01)	1.36	(1.08)	16.03
ADX	0.69	(0.01)	(0.05)	0.06	0.78	(0.71)	1.51	(1.22)	3.09

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