Nuveen Nwq Correlations

NQGIX Fund

USD 36.04 0.42 1.18%

The current 90-days correlation between Nuveen Nwq Global and Gmo High Yield is 0.07 (i.e., Significant diversification). The correlation of Nuveen Nwq 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 Nwq Correlation With Market

Very weak diversification

The correlation between Nuveen Nwq Global and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Nwq Global 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 Nwq Global. 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

0.61	TRZRX	T Rowe Price	Pair Corr
0.64	PRAFX	T Rowe Price	Pair Corr

Moving against Nuveen Mutual Fund

0.67	PQTNX	Pimco Trends Managed	Pair Corr
0.66	PQTAX	Pimco Trends Managed	Pair Corr
0.66	PQTIX	Aa Pimco Tr	Pair Corr
0.32	GPMFX	Guidepath Managed Futures	Pair Corr

Related Correlations Analysis

	GHVIX	JYHRX	MRHYX	FPIOX	RIMOX	SGYAX	FAGIX
GHVIX		0.94	0.95	0.93	0.68	0.83	0.89	GHVIX
JYHRX	0.94		0.97	0.93	0.64	0.86	0.95	JYHRX
MRHYX	0.95	0.97		0.95	0.72	0.9	0.94	MRHYX
FPIOX	0.93	0.93	0.95		0.7	0.91	0.9	FPIOX
RIMOX	0.68	0.64	0.72	0.7		0.77	0.62	RIMOX
SGYAX	0.83	0.86	0.9	0.91	0.77		0.86	SGYAX
FAGIX	0.89	0.95	0.94	0.9	0.62	0.86		FAGIX
	GHVIX	JYHRX	MRHYX	FPIOX	RIMOX	SGYAX	FAGIX

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Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Nwq 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 Nwq'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
GHVIX	0.15	0.02	(0.26)	1.19	0.07	(0.17)	0.24	(0.36)	0.96
JYHRX	0.13	0.01	(0.31)	0.25	0.00	(0.19)	0.31	(0.30)	1.07
MRHYX	0.11	0.02	(0.34)	0.71	0.00	(0.16)	0.24	(0.23)	0.59
FPIOX	0.15	0.03	(0.25)	8.15	0.00	(0.23)	0.57	(0.23)	1.04
RIMOX	0.06	0.01	(0.43)	1.16	0.00	(0.08)	0.15	(0.10)	0.57
SGYAX	0.15	0.02	(0.33)	0.75	0.00	(0.26)	0.56	(0.28)	1.27
FAGIX	0.28	0.03	(0.11)	0.33	0.31	(0.33)	0.59	(0.39)	2.24

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