Nuveen Small Correlations

EMGRX Fund  USD 9.61  0.07  0.72%   
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

Good diversification

The correlation between Nuveen Small Cap and DJI is -0.06 (i.e., Good 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 Investing Opportunities 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 metropolitan statistical area.

Moving together with Nuveen Mutual Fund

  0.79VSMAX Vanguard Small CapPairCorr
  0.79VSCIX Vanguard Small CapPairCorr
  0.99VSCPX Vanguard Small CapPairCorr
  0.99NAESX Vanguard Small CapPairCorr
  1.0FSSNX Fidelity Small CapPairCorr
  1.0DFSTX Us Small CapPairCorr
  0.72PASVX T Rowe PricePairCorr
  0.98PRVIX T Rowe PricePairCorr
  0.98TRZVX T Rowe PricePairCorr
  0.72PRSVX T Rowe PricePairCorr
  0.7SMPSX Semiconductor UltrasectorPairCorr
  0.61RGNCX Victory Global NaturalPairCorr
  0.87AXP American ExpressPairCorr
  0.67JPM JPMorgan ChasePairCorr
  0.63CAT CaterpillarPairCorr
  0.83BAC Bank of AmericaPairCorr

Moving against Nuveen Mutual Fund

  0.7VZ Verizon CommunicationsPairCorr
  0.62TRV The Travelers CompaniesPairCorr
  0.58MCD McDonaldsPairCorr
  0.54JNJ Johnson JohnsonPairCorr
  0.48T ATT Inc Earnings Call TomorrowPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
SBFAXFNPIX
DVFYXFNPIX
SBFAXDVFYX
DVFYXQCMMIX
IAAEXSBFAX
IAAEXFNPIX
  
High negative correlations   
IAAEXQCMMIX
IVMXXIAAEX
IVMXXSBFAX
IVMXXDVFYX
IVMXXFNPIX
IVMXXQCMMIX

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.