Nuveen Preferred Correlations

NPSRX Fund

USD 15.64 0.04 0.26%

The current 90-days correlation between Nuveen Preferred Sec and Transamerica Financial Life is 0.18 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Nuveen Preferred Correlation With Market

Significant diversification

The correlation between Nuveen Preferred Securities and DJI is 0.09 (i.e., Significant 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 metropolitan statistical area.

Moving together with Nuveen Mutual Fund

0.78	NPSAX	Nuveen Preferred Sec	Pair Corr
0.78	NPSFX	Nuveen Preferred Sec	Pair Corr
0.99	NPSCX	Nuveen Preferred Sec	Pair Corr
0.7	NQGCX	Nuveen Nwq Global	Pair Corr
0.71	NQGAX	Nuveen Nwq Global	Pair Corr

Moving against Nuveen Mutual Fund

0.49	FAFMX	Nuveen Ohio Municipal	Pair Corr
0.49	FAFJX	Nuveen Limited Term	Pair Corr
0.41	FAFOX	Nuveen Kansas Municipal	Pair Corr
0.36	FAFLX	Nuveen Louisiana Mun	Pair Corr
0.32	FRKSX	Nuveen Kansas Municipal	Pair Corr
0.33	FTLRX	Nuveen Louisiana Mun	Pair Corr

Related Correlations Analysis

	IAAEX	BTO	FIKBX	SBFAX	RGFIX	PFSQX	MCBXX	GCFSX
IAAEX		0.85	0.77	0.76	0.0	0.77	-0.06	0.82	IAAEX
BTO	0.85		0.96	0.96	0.0	0.95	0.21	0.79	BTO
FIKBX	0.77	0.96		0.99	0.0	1.0	0.32	0.75	FIKBX
SBFAX	0.76	0.96	0.99		0.0	0.99	0.31	0.72	SBFAX
RGFIX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	RGFIX
PFSQX	0.77	0.95	1.0	0.99	0.0		0.33	0.73	PFSQX
MCBXX	-0.06	0.21	0.32	0.31	0.0	0.33		-0.14	MCBXX
GCFSX	0.82	0.79	0.75	0.72	0.0	0.73	-0.14		GCFSX
	IAAEX	BTO	FIKBX	SBFAX	RGFIX	PFSQX	MCBXX	GCFSX

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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

PFSQX	+ 1.0	FIKBX
SBFAX	+ 0.99	FIKBX
PFSQX	+ 0.99	SBFAX
FIKBX	+ 0.96	BTO
SBFAX	+ 0.96	BTO
PFSQX	+ 0.95	BTO

High negative correlations

GCFSX	- 0.14	MCBXX
MCBXX	- 0.06	IAAEX
GCFSX	- 0.0	RGFIX
MCBXX	- 0.0	RGFIX
PFSQX	- 0.0	RGFIX
RGFIX	- 0.0	SBFAX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IAAEX	0.53	(0.03)	(0.09)	0.08	0.52	(0.60)	1.03	(0.98)	3.17
BTO	0.93	0.13	0.17	0.21	0.74	(1.03)	1.88	(1.32)	9.88
FIKBX	0.84	0.28	0.18	(2.18)	0.50	(1.04)	1.88	(1.15)	9.76
SBFAX	0.82	0.26	0.15	(2.79)	0.49	(0.97)	1.73	(1.44)	8.60
RGFIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PFSQX	0.80	0.23	0.13	(2.54)	0.50	(0.99)	1.58	(1.42)	8.34
MCBXX	0.03	0.01	0.00	(0.12)	0.00	0.00	0.00	0.00	1.01
GCFSX	0.67	0.05	0.06	0.17	0.50	(0.90)	1.52	(1.41)	4.94

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