Nuveen Nwq Correlations

NSMRX Fund

USD 39.62 0.02 0.05%

The current 90-days correlation between Nuveen Nwq Smallmid and Nuveen Symphony Floating is -0.28 (i.e., Very good 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

Almost no diversification

The correlation between Nuveen Nwq Smallmid Cap and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Nwq Smallmid Cap 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 Smallmid Cap. 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

0.98	EMGRX	Nuveen Small Cap	Pair Corr
0.98	FRMPX	Nuveen Small Cap	Pair Corr
0.98	FRSLX	Nuveen Mid Cap	Pair Corr
0.97	NQCAX	Nuveen Nwq Large	Pair Corr
0.99	FACSX	Nuveen Mid Cap	Pair Corr
0.95	FSCCX	First American Investment	Pair Corr
0.95	FSCVX	Nuveen Small Cap	Pair Corr
0.95	FSCWX	Nuveen Small Cap	Pair Corr
0.95	FSCAX	Nuveen Small Cap	Pair Corr
0.99	FSEIX	Nuveen Mid Cap	Pair Corr
0.92	FAQIX	Nuveen Dividend Value	Pair Corr
0.99	FASEX	Nuveen Mid Cap	Pair Corr
0.98	NQVAX	Nuveen Nwq Multi	Pair Corr
0.99	NQVCX	Nuveen Nwq Multi	Pair Corr
0.98	NQVRX	Nuveen Nwq Multi	Pair Corr

Moving against Nuveen Mutual Fund

0.6	FAFOX	Nuveen Kansas Municipal	Pair Corr
0.56	FRKSX	Nuveen Kansas Municipal	Pair Corr
0.4	FACCX	Nuveen All American	Pair Corr
0.34	FAARX	Nuveen All American	Pair Corr
0.34	FAAWX	Nuveen All American	Pair Corr
0.67	FAFMX	Nuveen Ohio Municipal	Pair Corr
0.6	FTLRX	Nuveen Louisiana Mun	Pair Corr
0.58	FTLAX	Nuveen Louisiana Mun	Pair Corr
0.39	NAFOX	Nuveen Oregon Interm	Pair Corr

Related Correlations Analysis

	NFFCX	FPXCX	ICCSX	NFRAX	NFRFX	NFRIX	NOPCX	NOPAX	NOPFX
NFFCX		0.0	0.0	0.98	1.0	1.0	0.0	0.0	0.0	NFFCX
FPXCX	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	FPXCX
ICCSX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	ICCSX
NFRAX	0.98	0.0	0.0		0.98	0.98	0.0	0.0	0.0	NFRAX
NFRFX	1.0	0.0	0.0	0.98		1.0	0.0	0.0	0.0	NFRFX
NFRIX	1.0	0.0	0.0	0.98	1.0		0.0	0.0	0.0	NFRIX
NOPCX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	NOPCX
NOPAX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	NOPAX
NOPFX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		NOPFX
	NFFCX	FPXCX	ICCSX	NFRAX	NFRFX	NFRIX	NOPCX	NOPAX	NOPFX

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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

NFRFX	+ 1.0	NFFCX
NFRIX	+ 1.0	NFFCX
NFRIX	+ 1.0	NFRFX
NFRAX	+ 0.98	NFFCX
NFRFX	+ 0.98	NFRAX
NFRIX	+ 0.98	NFRAX

High negative correlations

NOPFX	- 0.0	NOPAX
NOPFX	- 0.0	NOPCX
NOPAX	- 0.0	NOPCX
NOPFX	- 0.0	NFRIX
NOPAX	- 0.0	NFRIX
NOPCX	- 0.0	NFRIX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NFFCX	0.07	0.03	(1.63)	(0.64)	(0.15)	0.11	(0.06)	0.73
FPXCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ICCSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NFRAX	0.07	0.03	(1.60)	2.86	(0.15)	0.11	(0.06)	0.84
NFRFX	0.07	0.03	(1.56)	(0.73)	(0.17)	0.11	(0.06)	0.83
NFRIX	0.07	0.03	(1.56)	(0.79)	(0.16)	0.17	(0.06)	0.84
NOPCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPFX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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