Nuveen Small Correlations

ASEFX Fund

USD 15.53 0.22 1.44%

The current 90-days correlation between Nuveen Small Cap and Nuveen Small Cap is 0.22 (i.e., Modest diversification). The correlation of Nuveen Small 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 Small Correlation With Market

Average diversification

The correlation between Nuveen Small Cap and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Small Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Nuveen Small Cap. 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 census.

Moving together with Nuveen Mutual Fund

0.95	EMGRX	Nuveen Small Cap	Pair Corr
0.9	FRMPX	Nuveen Small Cap	Pair Corr
0.91	FRSLX	Nuveen Mid Cap	Pair Corr
0.76	NQCCX	Nuveen Nwq Large	Pair Corr
0.72	NQCAX	Nuveen Nwq Large	Pair Corr
0.67	FACSX	Nuveen Mid Cap	Pair Corr
0.73	NQCRX	Nuveen Nwq Large	Pair Corr
0.99	FSCCX	First American Investment	Pair Corr
0.99	FSCVX	Nuveen Small Cap	Pair Corr
0.96	FSCWX	Nuveen Small Cap	Pair Corr
0.96	FSCAX	Nuveen Small Cap	Pair Corr
0.69	FSEIX	Nuveen Mid Cap	Pair Corr
0.68	FASEX	Nuveen Mid Cap	Pair Corr

Related Correlations Analysis

	EMGRX	FREAX	FREGX	NPSAX	NPSFX	NPSCX	NPSRX	FRKSX	FRMPX	FRLCX
EMGRX		0.36	0.38	0.41	0.38	0.34	0.36	0.52	0.91	0.36	EMGRX
FREAX	0.36		0.92	0.43	0.4	0.51	0.26	0.48	0.02	0.92	FREAX
FREGX	0.38	0.92		0.38	0.34	0.47	0.19	0.42	0.01	1.0	FREGX
NPSAX	0.41	0.43	0.38		1.0	0.99	0.94	0.76	0.34	0.37	NPSAX
NPSFX	0.38	0.4	0.34	1.0		0.98	0.95	0.76	0.33	0.34	NPSFX
NPSCX	0.34	0.51	0.47	0.99	0.98		0.92	0.75	0.23	0.46	NPSCX
NPSRX	0.36	0.26	0.19	0.94	0.95	0.92		0.73	0.34	0.19	NPSRX
FRKSX	0.52	0.48	0.42	0.76	0.76	0.75	0.73		0.39	0.41	FRKSX
FRMPX	0.91	0.02	0.01	0.34	0.33	0.23	0.34	0.39		-0.01	FRMPX
FRLCX	0.36	0.92	1.0	0.37	0.34	0.46	0.19	0.41	-0.01		FRLCX
	EMGRX	FREAX	FREGX	NPSAX	NPSFX	NPSCX	NPSRX	FRKSX	FRMPX	FRLCX

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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

FRLCX	+ 1.0	FREGX
NPSFX	+ 1.0	NPSAX
NPSCX	+ 0.99	NPSAX
NPSCX	+ 0.98	NPSFX
NPSRX	+ 0.95	NPSFX
NPSRX	+ 0.94	NPSAX

High negative correlations

FRLCX

- 0.01

FRMPX

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Small 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 Small'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
EMGRX	0.89	0.03	0.02	0.11	1.05	(1.06)	1.66	(1.42)	10.34
FREAX	0.73	(0.13)	0.00	(1.68)	0.00	0.00	1.17	(1.40)	5.18
FREGX	0.84	(0.20)	0.00	(0.61)	0.00	0.00	1.25	(1.90)	6.36
NPSAX	0.11	(0.02)	0.00	(0.99)	0.00	0.00	0.26	(0.26)	1.03
NPSFX	0.11	(0.02)	0.00	(1.04)	0.00	0.00	0.26	(0.26)	1.15
NPSCX	0.11	(0.02)	0.00	(1.18)	0.00	0.00	0.26	(0.26)	1.03
NPSRX	0.13	(0.01)	0.00	(0.90)	0.00	0.00	0.26	(0.26)	1.03
FRKSX	0.17	(0.03)	0.00	(0.54)	0.00	0.00	0.30	(0.40)	1.31
FRMPX	0.98	0.11	0.08	0.29	1.15	(1.04)	1.86	(1.79)	9.36
FRLCX	0.83	(0.20)	0.00	(0.62)	0.00	0.00	1.23	(1.84)	6.82

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