Nuveen Preferred Correlations

Mutual Funds . USA . 
Fund . Nuveen Preferred Securities
NPSFX Fund  USD 15.71  0.03  0.19%   
The current 90-days correlation between Nuveen Preferred Sec and Pimco Mortgage Opportunities is 0.84 (i.e., Very poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Nuveen Preferred Correlation With Market

Average diversification

The correlation between Nuveen Preferred Securities and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Preferred Securities 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 Securities. 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

  1.0NPSAX Nuveen Preferred SecPairCorr
  0.99NPSCX Nuveen Preferred SecPairCorr
  0.99NPSRX Nuveen Preferred SecPairCorr
  0.61FRSLX Nuveen Mid CapPairCorr
  0.61FAAWX Nuveen All AmericanPairCorr
  0.82NQGCX Nuveen Nwq GlobalPairCorr
  0.82NQGAX Nuveen Nwq GlobalPairCorr
  0.8FAFJX Nuveen Limited TermPairCorr
  0.82NQGIX Nuveen Nwq GlobalPairCorr
  0.69FAMAX Nuveen Minnesota IntPairCorr
  0.86FSHAX Nuveen Short TermPairCorr
  0.94FSFRX Nuveen Strategic IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Preferred 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 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.

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