Nuveen New Correlations

NXN Stock

USD 11.58 0.01 0.09%

The current 90-days correlation between Nuveen New York and European Equity Closed is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nuveen New moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nuveen New York moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nuveen New Correlation With Market

Good diversification

The correlation between Nuveen New York and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen New York 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 New York. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Nuveen Stock

0.62	DHIL	Diamond Hill Investment	Pair Corr
0.63	KB	KB Financial Group Earnings Call This Week	Pair Corr
0.63	NU	Nu Holdings Aggressive Push	Pair Corr
0.67	RF	Regions Financial	Pair Corr
0.61	RY	Royal Bank	Pair Corr

Moving against Nuveen Stock

0.46	LION	Lionsgate Studios Corp	Pair Corr
0.46	LX	Lexinfintech Holdings Downward Rally	Pair Corr
0.34	LC	LendingClub Corp Downward Rally	Pair Corr
0.53	RJF-PB	Raymond James Financial	Pair Corr
0.39	RM	Regional Management Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	MHF	NMT	FRRPF	EEA	NUW	EVY	ENX	PNF	STT	BK
MHF		0.44	0.09	0.31	0.74	0.0	0.64	0.42	0.33	0.51	MHF
NMT	0.44		0.41	0.61	0.67	0.0	0.28	0.67	-0.07	0.16	NMT
FRRPF	0.09	0.41		0.13	0.43	0.0	0.2	0.82	-0.54	-0.27	FRRPF
EEA	0.31	0.61	0.13		0.49	0.0	0.17	0.41	0.12	0.29	EEA
NUW	0.74	0.67	0.43	0.49		0.0	0.59	0.71	-0.02	0.29	NUW
EVY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	EVY
ENX	0.64	0.28	0.2	0.17	0.59	0.0		0.44	0.34	0.4	ENX
PNF	0.42	0.67	0.82	0.41	0.71	0.0	0.44		-0.35	-0.01	PNF
STT	0.33	-0.07	-0.54	0.12	-0.02	0.0	0.34	-0.35		0.43	STT
BK	0.51	0.16	-0.27	0.29	0.29	0.0	0.4	-0.01	0.43		BK
	MHF	NMT	FRRPF	EEA	NUW	EVY	ENX	PNF	STT	BK

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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

PNF	+ 0.82	FRRPF
NUW	+ 0.74	MHF
PNF	+ 0.71	NUW
NUW	+ 0.67	NMT
PNF	+ 0.67	NMT
ENX	+ 0.64	MHF

High negative correlations

STT	- 0.54	FRRPF
STT	- 0.35	PNF
BK	- 0.27	FRRPF
STT	- 0.07	NMT
STT	- 0.02	NUW
BK	- 0.01	PNF

Risk-Adjusted Indicators

There is a big difference between Nuveen Stock performing well and Nuveen New Company 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 New'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
MHF	0.58	0.03	(0.02)	0.23	0.69	(0.67)	1.30	(1.02)	3.64
NMT	0.43	0.00	(0.10)	0.06	0.58	(0.49)	1.14	(0.86)	3.28
FRRPF	1.19	(0.47)	0.00	(0.81)	0.00	0.00	2.03	(5.27)	12.13
EEA	0.64	(0.02)	0.00	(0.08)	0.00	0.00	1.56	(1.40)	3.61
NUW	0.39	(0.01)	(0.13)	0.01	0.47	(0.44)	0.74	(0.67)	2.84
EVY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ENX	0.56	0.04	(0.04)	(0.43)	0.67	(0.61)	1.04	(1.13)	3.15
PNF	0.44	(0.09)	0.00	(0.44)	0.00	0.00	0.81	(1.07)	2.49
STT	1.04	0.11	0.07	0.20	1.33	(1.13)	1.86	(2.06)	8.21
BK	0.95	0.16	0.13	0.30	0.88	(1.09)	1.97	(1.20)	8.74

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