Nuveen ESG Correlations

NUMG Etf

USD 50.35 0.74 1.49%

The current 90-days correlation between Nuveen ESG Mid and JPMorgan Fundamental Data is 0.75 (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

Significant diversification

The correlation between Nuveen ESG Mid Cap and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen ESG Mid 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 Mid 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 population.

Moving together with Nuveen Etf

0.96	VOT	Vanguard Mid Cap	Pair Corr
0.98	IWP	iShares Russell Mid	Pair Corr
0.81	ARKK	ARK Innovation ETF	Pair Corr
0.83	IJK	iShares SP Mid	Pair Corr
0.98	JKH	iShares Morningstar Mid	Pair Corr
0.94	KOMP	SPDR Kensho New	Pair Corr
0.83	MDYG	SPDR SP 400	Pair Corr
0.98	IMCG	iShares Morningstar Mid	Pair Corr
0.92	FPX	First Trust Equity	Pair Corr
0.83	IVOG	Vanguard SP Mid	Pair Corr
0.77	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.69	MLPR	ETRACS Quarterly Pay	Pair Corr
0.79	BITO	ProShares Bitcoin	Pair Corr
0.88	QQEW	First Trust NASDAQ	Pair Corr
0.73	IBM	International Business Tech Boost	Pair Corr
0.76	WMT	Walmart Aggressive Push	Pair Corr
0.64	CSCO	Cisco Systems	Pair Corr
0.81	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.68	AXP	American Express	Pair Corr

Moving against Nuveen Etf

0.59	NRGU	Bank Of Montreal	Pair Corr
0.32	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	MCDS	DINT	DISV	PY	VB	VO	MDYG	MDYV	XC
MCDS		0.18	0.31	0.86	0.85	0.86	0.9	0.93	0.04	MCDS
DINT	0.18		0.72	0.15	0.17	0.18	0.29	0.21	0.86	DINT
DISV	0.31	0.72		0.24	0.27	0.31	0.37	0.35	0.68	DISV
PY	0.86	0.15	0.24		0.97	0.98	0.89	0.91	0.05	PY
VB	0.85	0.17	0.27	0.97		0.98	0.92	0.93	0.08	VB
VO	0.86	0.18	0.31	0.98	0.98		0.91	0.93	0.09	VO
MDYG	0.9	0.29	0.37	0.89	0.92	0.91		0.98	0.24	MDYG
MDYV	0.93	0.21	0.35	0.91	0.93	0.93	0.98		0.11	MDYV
XC	0.04	0.86	0.68	0.05	0.08	0.09	0.24	0.11		XC
	MCDS	DINT	DISV	PY	VB	VO	MDYG	MDYV	XC

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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
MCDS	0.48	0.06	(0.01)	3.28	0.58	(0.84)	1.26	(1.11)	6.57
DINT	0.87	(0.08)	0.00	(0.28)	0.00	0.00	1.70	(2.09)	7.17
DISV	0.60	0.00	(0.08)	(0.01)	0.84	(0.57)	1.26	(1.69)	3.82
PY	0.57	0.00	(0.05)	0.07	0.68	(0.65)	1.20	(0.88)	6.04
VB	0.80	0.05	0.01	0.16	1.00	(0.80)	1.60	(1.19)	8.20
VO	0.64	0.03	(0.01)	0.13	0.76	(0.72)	1.37	(1.06)	6.01
MDYG	0.77	0.05	(0.01)	0.51	1.00	(0.81)	1.61	(1.34)	7.63
MDYV	0.72	0.07	0.01	0.78	0.88	(0.76)	1.52	(1.22)	8.44
XC	0.65	(0.09)	0.00	(1.08)	0.00	0.00	1.09	(1.40)	4.47

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