Nuveen ESG Correlations

NULC Etf

USD 47.35 0.02 0.04%

The current 90-days correlation between Nuveen ESG Large and iShares Dividend and is 0.64 (i.e., 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

Very weak diversification

The correlation between Nuveen ESG Large Cap and DJI is 0.49 (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 Large 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 ESG Large Cap. 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 economic analysis.

Moving together with Nuveen Etf

0.86	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.8	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.8	IVV	iShares Core SP	Pair Corr
0.9	VIG	Vanguard Dividend	Pair Corr
0.78	VV	Vanguard Large Cap	Pair Corr
0.91	RSP	Invesco SP 500 Sell-off Trend	Pair Corr
0.83	IWB	iShares Russell 1000	Pair Corr
0.83	ESGU	iShares ESG Aware	Pair Corr
0.97	DFAC	Dimensional Core Equity	Pair Corr
0.8	SPLG	SPDR Portfolio SP Sell-off Trend	Pair Corr
0.62	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.68	JNJ	Johnson Johnson	Pair Corr
0.68	BAC	Bank of America	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr

Moving against Nuveen Etf

0.57	WTID	UBS ETRACS	Pair Corr
0.42	TSLL	Direxion Shares ETF Sell-off Trend	Pair Corr
0.42	TSLR	GraniteShares 175x Long Sell-off Trend	Pair Corr

Related Correlations Analysis

	DIVB	MCSE	MDCP	EV	GK	MJ	PP	XT	METV
DIVB		0.56	0.67	0.4	0.49	0.33	0.57	0.59	0.12	DIVB
MCSE	0.56		-0.05	0.1	0.42	-0.4	0.29	0.91	0.72	MCSE
MDCP	0.67	-0.05		0.63	0.48	0.75	0.65	0.05	-0.31	MDCP
EV	0.4	0.1	0.63		0.62	0.57	0.71	0.25	0.01	EV
GK	0.49	0.42	0.48	0.62		0.2	0.79	0.64	0.54	GK
MJ	0.33	-0.4	0.75	0.57	0.2		0.44	-0.28	-0.56	MJ
PP	0.57	0.29	0.65	0.71	0.79	0.44		0.52	0.36	PP
XT	0.59	0.91	0.05	0.25	0.64	-0.28	0.52		0.81	XT
METV	0.12	0.72	-0.31	0.01	0.54	-0.56	0.36	0.81		METV
	DIVB	MCSE	MDCP	EV	GK	MJ	PP	XT	METV

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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

XT	+ 0.91	MCSE
METV	+ 0.81	XT
PP	+ 0.79	GK
MJ	+ 0.75	MDCP
METV	+ 0.72	MCSE
PP	+ 0.71	EV

High negative correlations

METV	- 0.56	MJ
MJ	- 0.4	MCSE
METV	- 0.31	MDCP
XT	- 0.28	MJ
MDCP	- 0.05	MCSE

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
DIVB	0.54	0.00	0.01	0.01	0.69	(0.57)	1.01	(0.76)	3.96
MCSE	0.71	0.06	0.06	0.13	0.88	(0.81)	1.73	(1.48)	4.40
MDCP	0.66	(0.17)	0.00	(0.28)	0.00	0.00	1.33	(1.22)	4.70
EV	0.96	(0.01)	(0.01)	(0.04)	1.24	(0.94)	1.62	(1.76)	6.73
GK	0.78	0.02	0.02	0.05	1.23	(0.71)	1.55	(1.55)	5.38
MJ	1.72	(0.28)	0.00	(0.52)	0.00	0.00	4.39	(3.59)	12.45
PP	1.18	(0.02)	0.00	(0.02)	0.00	0.00	2.71	(2.05)	9.37
XT	0.73	0.05	0.05	0.09	0.94	(0.76)	1.31	(1.58)	4.52
METV	1.03	0.15	0.11	0.33	1.19	(1.09)	2.09	(2.17)	6.21

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