Nuveen New Correlations

NRK Fund

USD 10.89 0.01 0.09%

The current 90-days correlation between Nuveen New York and Eaton Vance National is 0.2 (i.e., Modest 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

Significant diversification

The correlation between Nuveen New York and DJI is 0.05 (i.e., Significant 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 together with Nuveen Fund

0.64	MXF	Mexico Closed Potential Growth	Pair Corr
0.82	EIM	Eaton Vance Mbf	Pair Corr
0.72	IIF	Morgan Stanley India	Pair Corr
0.68	NNY	Nuveen New York	Pair Corr
0.62	KO	Coca Cola Aggressive Push	Pair Corr

Moving against Nuveen Fund

0.49	FEN	First Trust Energy	Pair Corr
0.39	RQECX	Resq Dynamic Allocation	Pair Corr
0.34	CSQ	Calamos Strategic Total	Pair Corr
0.58	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.47	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.43	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.42	HPQ	HP Inc	Pair Corr
0.37	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	EOT	IHTA	NXC	CXH	FMN
EOT		0.15	0.69	0.6	0.57	EOT
IHTA	0.15		-0.33	0.08	-0.61	IHTA
NXC	0.69	-0.33		0.53	0.86	NXC
CXH	0.6	0.08	0.53		0.53	CXH
FMN	0.57	-0.61	0.86	0.53		FMN
	EOT	IHTA	NXC	CXH	FMN

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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

FMN	+ 0.86	NXC
NXC	+ 0.69	EOT
CXH	+ 0.6	EOT
FMN	+ 0.57	EOT
CXH	+ 0.53	NXC
FMN	+ 0.53	CXH

High negative correlations

FMN	- 0.61	IHTA
NXC	- 0.33	IHTA

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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EOT	0.35	0.01	(0.25)	(0.24)	0.40	(0.41)	0.75	(0.86)	2.08
IHTA	0.24	0.05	(0.13)	1.63	0.26	(0.30)	0.68	(0.28)	2.03
NXC	0.45	(0.04)	0.00	(31.31)	0.00	0.00	0.94	(0.94)	2.82
CXH	0.33	0.03	(0.20)	(0.11)	0.42	(0.35)	0.62	(0.74)	2.10
FMN	0.50	(0.07)	0.00	0.69	0.00	0.00	1.06	(1.49)	5.09

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