Nuveen ESG Correlations

NUBD Etf

USD 21.88 0.04 0.18%

The current 90-days correlation between Nuveen ESG Aggregate and NuShares Enhanced Yield is 0.88 (i.e., Very poor diversification). The correlation of Nuveen ESG 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.

Nuveen ESG Correlation With Market

Modest diversification

The correlation between Nuveen ESG Aggregate and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen ESG Aggregate 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 ESG Aggregate. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Nuveen Etf

0.92	BND	Vanguard Total Bond	Pair Corr
0.99	AGG	iShares Core Aggregate	Pair Corr
0.98	BIV	Vanguard Intermediate	Pair Corr
0.98	SPAB	SPDR Portfolio Aggregate	Pair Corr
0.99	EAGG	iShares ESG Aggregate	Pair Corr
0.98	FLCB	Franklin Templeton ETF	Pair Corr
0.98	UITB	VictoryShares USAA Core	Pair Corr
0.91	DFCF	Dimensional ETF Trust	Pair Corr
0.92	JAGG	JPMorgan BetaBuilders	Pair Corr
0.92	AGGY	WisdomTree Yield Enhanced	Pair Corr
0.7	HD	Home Depot	Pair Corr
0.67	TRV	The Travelers Companies	Pair Corr
0.85	VZ	Verizon Communications	Pair Corr

Moving against Nuveen Etf

0.6	FBGX	UBS	Pair Corr
0.43	OBIL	US Treasury 12	Pair Corr
0.4	BA	Boeing	Pair Corr

Related Correlations Analysis

	NUAG	NUDM	NUSC	NULV	NUSA
NUAG		0.67	0.74	0.73	0.29	NUAG
NUDM	0.67		0.38	0.48	0.46	NUDM
NUSC	0.74	0.38		0.9	0.2	NUSC
NULV	0.73	0.48	0.9		0.16	NULV
NUSA	0.29	0.46	0.2	0.16		NUSA
	NUAG	NUDM	NUSC	NULV	NUSA

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Nuveen ESG Constituents Risk-Adjusted Indicators

There is a big difference between Nuveen Etf performing well and Nuveen ESG ETF 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 ESG'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
NUAG	0.23	(0.02)	0.00	(0.18)	0.00	0.00	0.53	(0.48)	1.54
NUDM	0.60	(0.01)	(0.09)	0.04	0.80	(0.62)	1.23	(1.32)	3.67
NUSC	0.80	0.02	(0.02)	0.14	1.06	(0.81)	1.69	(1.35)	8.64
NULV	0.61	(0.02)	(0.10)	0.03	0.74	(0.63)	1.20	(0.98)	4.90
NUSA	0.11	0.00	(0.69)	0.02	0.04	(0.14)	0.30	(0.17)	0.61

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