Nuveen Equity Correlations

Mutual Funds USA . 
Fund . Nuveen Equity Longshort
NELIX Fund  USD 62.60  0.08  0.13%   
The current 90-days correlation between Nuveen Equity Longshort and Diamond Hill Long Short is 0.3 (i.e., Weak diversification). The correlation of Nuveen Equity 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 Equity Correlation With Market

Weak diversification

The correlation between Nuveen Equity Longshort and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Equity Longshort and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nuveen Equity Longshort. 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

  0.95EMGRX Nuveen Small CapPairCorr
  0.9FREAX Nuveen Real EstatePairCorr
  0.91FREGX Nuveen Real EstatePairCorr
  0.76FRKSX Nuveen Kansas MunicipalPairCorr
  0.76FRMPX Nuveen Small CapPairCorr
  0.9FRLCX Nuveen Real EstatePairCorr
  0.76FRSLX Nuveen Mid CapPairCorr
  0.76FAARX Nuveen All AmericanPairCorr
  0.93NQCCX Nuveen Nwq LargePairCorr
  0.92NQCAX Nuveen Nwq LargePairCorr
  0.76FAAWX Nuveen All AmericanPairCorr
  0.92FACSX Nuveen Mid CapPairCorr
  0.8FACCX Nuveen All AmericanPairCorr
  0.92NQCRX Nuveen Nwq LargePairCorr
  0.81FAFPX Nuveen Missouri MunicipalPairCorr
  0.82FAFOX Nuveen Kansas MunicipalPairCorr
  0.83FAFNX Nuveen Michigan MunicipalPairCorr
  0.83FAFMX Nuveen Ohio MunicipalPairCorr
  0.82FAFLX Nuveen Louisiana MunPairCorr
  0.81FAFKX Nuveen Orado MunicipalPairCorr
  0.66FAFJX Nuveen Limited TermPairCorr
  0.68FAMAX Nuveen Minnesota IntPairCorr
  0.73FAMTX Nuveen Minnesota IntPairCorr
  0.93FSCCX First American InvestmentPairCorr
  0.93FSCVX Nuveen Small CapPairCorr
  0.93FSCWX Nuveen Small CapPairCorr
  0.93FSCAX Nuveen Small CapPairCorr
  0.92FSEIX Nuveen Mid CapPairCorr
  0.91FAQIX Nuveen Dividend ValuePairCorr
  0.9FARCX Nuveen Real EstatePairCorr
  0.92FASEX Nuveen Mid CapPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Equity 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 Equity'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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