Nuveen New Correlations

NRK Fund

USD 10.51 0.03 0.29%

The current 90-days correlation between Nuveen New York and Western Asset Managed is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nuveen New moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nuveen New York moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nuveen New Correlation With Market

Average diversification

The correlation between Nuveen New York and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen New York 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 New York. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving against Nuveen Fund

0.63	MURSX	Msif Real Estate	Pair Corr
0.6	SWSFX	Ultra Short Fixed	Pair Corr
0.59	DFGBX	Dfa Five Year	Pair Corr
0.52	AQMIX	Aqr Managed Futures	Pair Corr
0.51	ESDIX	Ashmore Emerging Markets	Pair Corr
0.49	MAFRX	Pioneer Multi Asset	Pair Corr
0.45	ARMLX	Western Asset Adjustable	Pair Corr
0.39	PLFRX	Pacific Funds Floating	Pair Corr
0.36	AMFNX	Asg Managed Futures	Pair Corr
0.33	CTYRX	Columbia Global Tech	Pair Corr
0.74	CBHCX	Victory Cemp Market	Pair Corr
0.69	AHLPX	American Beacon Ahl	Pair Corr
0.63	APDPX	Artisan Global Uncon	Pair Corr
0.59	EMPIX	Ambassador Fund	Pair Corr
0.58	BXSL	Blackstone Secured	Pair Corr
0.51	DBFRX	Doubleline Floating Rate	Pair Corr
0.51	DLINX	Doubleline Flexible	Pair Corr
0.5	BIVSX	Balter Invenomic	Pair Corr
0.49	ATOIX	Alpine Ultra Short	Pair Corr
0.49	USIAX	Ubs Ultra Short	Pair Corr
0.48	CMNIX	Calamos Market Neutral	Pair Corr

Related Correlations Analysis

	MHN	NAN	MMU	GGT-PE	CXH	CBH	EOT	FMN	MVF
MHN		0.85	0.93	0.34	0.84	-0.48	0.76	0.77	0.95	MHN
NAN	0.85		0.85	0.08	0.81	-0.16	0.5	0.52	0.84	NAN
MMU	0.93	0.85		0.33	0.78	-0.41	0.61	0.79	0.95	MMU
GGT-PE	0.34	0.08	0.33		0.15	-0.67	0.48	0.69	0.33	GGT-PE
CXH	0.84	0.81	0.78	0.15		-0.24	0.68	0.53	0.77	CXH
CBH	-0.48	-0.16	-0.41	-0.67	-0.24		-0.79	-0.71	-0.44	CBH
EOT	0.76	0.5	0.61	0.48	0.68	-0.79		0.69	0.67	EOT
FMN	0.77	0.52	0.79	0.69	0.53	-0.71	0.69		0.76	FMN
MVF	0.95	0.84	0.95	0.33	0.77	-0.44	0.67	0.76		MVF
	MHN	NAN	MMU	GGT-PE	CXH	CBH	EOT	FMN	MVF

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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

MVF	+ 0.95	MHN
MVF	+ 0.95	MMU
MMU	+ 0.93	MHN
NAN	+ 0.85	MHN
MMU	+ 0.85	NAN
CXH	+ 0.84	MHN

High negative correlations

EOT	- 0.79	CBH
FMN	- 0.71	CBH
CBH	- 0.67	GGT-PE
CBH	- 0.48	MHN
MVF	- 0.44	CBH
CBH	- 0.41	MMU

Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen New 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 New'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MHN	0.51	(0.06)	0.00	(0.31)	0.00	0.96	(1.30)	2.69
NAN	0.48	(0.02)	0.00	(0.22)	0.00	0.99	(0.80)	2.92
MMU	0.51	(0.05)	0.00	(0.26)	0.00	0.98	(1.06)	3.10
GGT-PE	0.43	(0.04)	0.00	(0.13)	0.00	0.96	(1.00)	4.50
CXH	0.45	(0.03)	0.00	(1.75)	0.00	0.76	(1.01)	3.18
CBH	0.13	0.04	0.08	2.47	(0.18)	0.22	(0.22)	0.78
EOT	0.45	(0.07)	0.00	(7.52)	0.00	0.87	(1.03)	2.88
FMN	0.56	(0.15)	0.00	(0.61)	0.00	1.07	(1.50)	2.68
MVF	0.59	(0.05)	0.00	(0.16)	0.00	1.11	(1.24)	3.26

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