Nuveen Preferred Correlations

NPFI Etf

25.93 0.06 0.23%

The current 90-days correlation between Nuveen Preferred and VanEck Preferred Securities is -0.05 (i.e., Good 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

Modest diversification

The correlation between Nuveen Preferred and and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Preferred and 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 Preferred and. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Nuveen Etf

0.88	PFF	iShares Preferred	Pair Corr
0.89	FPE	First Trust Preferred	Pair Corr
0.66	PGX	Invesco Preferred ETF	Pair Corr
0.85	PFFD	Global X Preferred	Pair Corr
0.84	VRP	Invesco Variable Rate	Pair Corr
0.91	PFXF	VanEck Preferred Sec	Pair Corr
0.93	FPEI	First Trust Institutional	Pair Corr
0.94	PFFA	Virtus InfraCap Preferred	Pair Corr
0.66	VTI	Vanguard Total Stock	Pair Corr
0.68	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.68	IVV	iShares Core SP	Pair Corr
0.69	VTV	Vanguard Value Index	Pair Corr
0.64	VUG	Vanguard Growth Index	Pair Corr
0.63	VO	Vanguard Mid Cap	Pair Corr
0.68	VWO	Vanguard FTSE Emerging	Pair Corr
0.82	HD	Home Depot	Pair Corr
0.61	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.8	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.67	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.7	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.68	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr

Moving against Nuveen Etf

0.62	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.43	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.26	0.55	0.07	0.53	0.05	0.64	0.28	-0.53	0.73	META
MSFT	0.26		0.21	0.17	0.16	-0.01	0.03	-0.11	0.13	-0.2	MSFT
UBER	0.55	0.21		-0.06	-0.09	0.27	-0.03	-0.16	0.09	0.35	UBER
F	0.07	0.17	-0.06		0.28	-0.41	0.5	0.7	-0.37	0.32	F
T	0.53	0.16	-0.09	0.28		-0.5	0.81	0.64	-0.79	0.39	T
A	0.05	-0.01	0.27	-0.41	-0.5		-0.46	-0.6	0.63	0.0	A
CRM	0.64	0.03	-0.03	0.5	0.81	-0.46		0.86	-0.91	0.65	CRM
JPM	0.28	-0.11	-0.16	0.7	0.64	-0.6	0.86		-0.83	0.47	JPM
MRK	-0.53	0.13	0.09	-0.37	-0.79	0.63	-0.91	-0.83		-0.56	MRK
XOM	0.73	-0.2	0.35	0.32	0.39	0.0	0.65	0.47	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.86	CRM
CRM	+ 0.81	T
XOM	+ 0.73	META
JPM	+ 0.7	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.79	T
JPM	- 0.6	A
XOM	- 0.56	MRK
MRK	- 0.53	META

Nuveen Preferred Competition Risk-Adjusted Indicators

There is a big difference between Nuveen Etf performing well and Nuveen Preferred ETF 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
META	1.07	0.07	0.02	0.23	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.90	(0.04)	(0.05)	0.07	1.50	(0.86)	2.09	(1.85)	8.19
UBER	1.61	(0.11)	(0.04)	0.02	2.32	(1.70)	2.69	(2.53)	20.10
F	1.42	(0.15)	(0.04)	0.03	2.23	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(7.83)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.06)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.31	0.23	0.18	0.34	1.08	(1.53)	3.18	(1.91)	9.98
JPM	1.12	(0.04)	0.05	0.11	1.38	(1.23)	2.05	(2.00)	15.87
MRK	0.91	(0.24)	0.00	(0.86)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.00	(0.03)	(0.07)	0.06	1.31	(1.04)	2.10	(2.09)	5.74

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