Nuveen Mid Correlations

FASEX Fund

USD 52.70 0.36 0.68%

The current 90-days correlation between Nuveen Mid Cap and Nationwide Highmark Short is 0.2 (i.e., Modest diversification). The correlation of Nuveen Mid 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 Mid Correlation With Market

Poor diversification

The correlation between Nuveen Mid Cap and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Mid 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 Mid 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 income.

Moving together with Nuveen Mutual Fund

0.91	EMGRX	Nuveen Small Cap	Pair Corr
0.86	FRMPX	Nuveen Small Cap	Pair Corr
0.86	FRSLX	Nuveen Mid Cap	Pair Corr
0.85	NQCCX	Nuveen Nwq Large	Pair Corr
0.82	NQCAX	Nuveen Nwq Large	Pair Corr
1.0	FACSX	Nuveen Mid Cap	Pair Corr
0.82	NQCRX	Nuveen Nwq Large	Pair Corr
0.95	FSCCX	First American Investment	Pair Corr
0.9	FSCVX	Nuveen Small Cap	Pair Corr
0.95	FSCWX	Nuveen Small Cap	Pair Corr
0.95	FSCAX	Nuveen Small Cap	Pair Corr
1.0	FSEIX	Nuveen Mid Cap	Pair Corr
0.91	FAQIX	Nuveen Dividend Value	Pair Corr

Moving against Nuveen Mutual Fund

0.33	NPSFX	Nuveen Preferred Sec	Pair Corr
0.39	NAIGX	Nuveen Nwq International	Pair Corr
0.38	FSHYX	Nuveen Short Term	Pair Corr
0.35	FSFRX	Nuveen Strategic Income	Pair Corr
0.35	NAAEX	Nuveen Short Term	Pair Corr
0.33	FCBCX	Nuveen Strategic Income	Pair Corr
0.32	FSHAX	Nuveen Short Term	Pair Corr

Related Correlations Analysis

	NWJVX	DMBAX	ATOAX	FUEMX	FOSIX	CMGUX
NWJVX		0.93	0.94	0.95	0.96	0.95	NWJVX
DMBAX	0.93		0.88	0.95	0.94	0.91	DMBAX
ATOAX	0.94	0.88		0.98	0.91	0.99	ATOAX
FUEMX	0.95	0.95	0.98		0.94	0.98	FUEMX
FOSIX	0.96	0.94	0.91	0.94		0.92	FOSIX
CMGUX	0.95	0.91	0.99	0.98	0.92		CMGUX
	NWJVX	DMBAX	ATOAX	FUEMX	FOSIX	CMGUX

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Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Mid 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 Mid'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NWJVX	0.08	0.01	0.68	0.92	(0.14)	0.20	(0.10)	0.61
DMBAX	0.06	0.00	0.55	0.34	(0.10)	0.16	(0.08)	0.31
ATOAX	0.02	0.00	0.00	(0.07)	0.00	0.00	0.00	0.30
FUEMX	0.04	0.00	0.00	(0.09)	0.00	0.10	(0.10)	0.40
FOSIX	0.10	0.00	0.46	(0.14)	(0.17)	0.22	(0.11)	0.66
CMGUX	0.04	0.01	0.00	(0.63)	0.00	0.11	0.00	0.54

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