Nuveen Short-duration Correlations

NVCCX Fund

USD 9.73 0.01 0.10%

The current 90-days correlation between Nuveen Short Duration and Blrc Sgy Mnp is -0.09 (i.e., Good diversification). The correlation of Nuveen Short-duration 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 Short-duration Correlation With Market

Significant diversification

The correlation between Nuveen Short Duration High and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Short Duration 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 Short Duration High. 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 main economic indicators.

Moving together with Nuveen Mutual Fund

0.88	NHMAX	Nuveen High Yield	Pair Corr
0.88	NHCCX	Nuveen High Yield	Pair Corr
0.88	NHMRX	Nuveen High Yield	Pair Corr
0.88	NHMFX	Nuveen High Yield	Pair Corr

Moving against Nuveen Mutual Fund

0.71	WCEYX	Ivy E Equity	Pair Corr
0.65	VFFSX	Vanguard 500 Index	Pair Corr
0.63	VFIAX	Vanguard 500 Index	Pair Corr
0.63	VFINX	Vanguard 500 Index	Pair Corr
0.62	VTSAX	Vanguard Total Stock	Pair Corr
0.62	VTSMX	Vanguard Total Stock	Pair Corr
0.62	VSMPX	Vanguard Total Stock	Pair Corr
0.62	VSTSX	Vanguard Total Stock	Pair Corr
0.62	VITSX	Vanguard Total Stock	Pair Corr
0.53	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.49	PRDSX	T Rowe Price	Pair Corr
0.68	HD	Home Depot	Pair Corr
0.63	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.6	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.53	T	ATT Inc Sell-off Trend	Pair Corr
0.52	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.51	TEGYX	Mid Cap Growth	Pair Corr
0.5	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.46	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.45	HFCGX	Hennessy Nerstone Growth	Pair Corr
0.43	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.43	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.42	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.37	MSFT	Microsoft Aggressive Push	Pair Corr
0.34	FSRBX	Banking Portfolio Banking	Pair Corr
0.31	BAC	Bank of America Aggressive Push	Pair Corr

Related Correlations Analysis

	MDMTX	RHYKX	PBXIX	TTRBX	IOBZX	TPYYX	ARTFX
MDMTX		-0.45	-0.5	0.81	-0.24	0.28	-0.38	MDMTX
RHYKX	-0.45		0.9	-0.32	0.88	0.08	0.97	RHYKX
PBXIX	-0.5	0.9		-0.48	0.79	0.04	0.85	PBXIX
TTRBX	0.81	-0.32	-0.48		0.0	0.37	-0.19	TTRBX
IOBZX	-0.24	0.88	0.79	0.0		0.28	0.93	IOBZX
TPYYX	0.28	0.08	0.04	0.37	0.28		0.16	TPYYX
ARTFX	-0.38	0.97	0.85	-0.19	0.93	0.16		ARTFX
	MDMTX	RHYKX	PBXIX	TTRBX	IOBZX	TPYYX	ARTFX

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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

ARTFX	+ 0.97	RHYKX
ARTFX	+ 0.93	IOBZX
PBXIX	+ 0.9	RHYKX
IOBZX	+ 0.88	RHYKX
ARTFX	+ 0.85	PBXIX
TTRBX	+ 0.81	MDMTX

High negative correlations

PBXIX	- 0.5	MDMTX
TTRBX	- 0.48	PBXIX
RHYKX	- 0.45	MDMTX
ARTFX	- 0.38	MDMTX
TTRBX	- 0.32	RHYKX
IOBZX	- 0.24	MDMTX

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Short-duration 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 Short-duration'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
MDMTX	0.16	(0.01)	(0.33)	(0.23)	0.25	(0.23)	0.38	(0.56)	1.33
RHYKX	0.15	0.05	(0.35)	(2.70)	0.00	(0.29)	0.37	(0.19)	1.30
PBXIX	0.31	0.05	(0.06)	0.23	0.00	(0.41)	0.87	(0.55)	1.94
TTRBX	0.13	(0.01)	(0.61)	(0.37)	0.16	(0.17)	0.30	(0.30)	0.70
IOBZX	0.09	0.01	(0.65)	0.58	0.00	(0.14)	0.23	(0.23)	0.46
TPYYX	0.71	0.00	(0.12)	0.06	0.97	(0.74)	1.40	(1.71)	5.39
ARTFX	0.12	0.04	(0.60)	(1.12)	0.00	(0.20)	0.33	(0.22)	1.01

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