Nuveen ESG Correlations

Etfs . USA . 
Etf . Nuveen ESG High
NUHY Etf  USD 21.54  0.06  0.28%   
The current 90-days correlation between Nuveen ESG High and Nuveen ESG Aggregate is 0.5 (i.e., Very weak 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Nuveen ESG Correlation With Market

Very weak diversification

The correlation between Nuveen ESG High and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen ESG High 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 High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Nuveen Etf

  0.92HYG iShares iBoxx HighPairCorr
  0.95USHY iShares Broad USDPairCorr
  0.96JNK SPDR Bloomberg HighPairCorr
  0.87SHYG iShares 0 5PairCorr
  0.94HYLB Xtrackers USD HighPairCorr
  0.86SJNK SPDR Bloomberg ShortPairCorr
  0.94ANGL VanEck Fallen AngelPairCorr
  0.97FALN iShares Fallen AngelsPairCorr
  0.89HYLS First Trust TacticalPairCorr
  0.75HYDW Xtrackers Low BetaPairCorr
  0.65VTI Vanguard Total StockPairCorr
  0.64SPY SPDR SP 500 Aggressive PushPairCorr
  0.64IVV iShares Core SPPairCorr
  0.68VTV Vanguard Value Index Sell-off TrendPairCorr
  0.61VUG Vanguard Growth IndexPairCorr
  0.67VO Vanguard Mid CapPairCorr
  0.68VB Vanguard Small CapPairCorr
  0.63T ATT Inc Aggressive PushPairCorr
  0.67AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.61WMT Walmart Aggressive PushPairCorr
  0.64HD Home Depot Sell-off TrendPairCorr

Moving against Nuveen Etf

  0.62BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.33KO Coca Cola Sell-off TrendPairCorr
  0.33MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Related Correlations Analysis

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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   
GHYB
+ 0.98
PHYL
SHYL
+ 0.98
HYUP
SHYL
+ 0.95
PHYL
HYUP
+ 0.94
PHYL
SHYL
+ 0.92
GHYB
GHYB
+ 0.9
HYUP
  
High negative correlations   
HYUP
- 0.52
NUBD
SHYL
- 0.48
NUBD
PHYL
- 0.23
NUBD
GHYB
- 0.16
NUBD

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.

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