Nuveen High Correlations

FCSIX Fund

USD 6.64 0.01 0.15%

The current 90-days correlation between Nuveen High Income and Dreyfusstandish Global Fixed is 0.36 (i.e., Weak diversification). The correlation of Nuveen High 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 High Correlation With Market

Significant diversification

The correlation between Nuveen High Income and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen High Income 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 High Income. 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 gross domestic product.

Moving together with Nuveen Mutual Fund

0.82	VWEAX	Vanguard High Yield	Pair Corr
0.82	VWEHX	Vanguard High Yield	Pair Corr
0.91	BHYCX	Blackrock Hi Yld	Pair Corr
0.89	BHYIX	Blackrock High Yield	Pair Corr
0.89	BHYSX	Blackrock Hi Yld	Pair Corr
0.9	BHYAX	Blackrock High Yield	Pair Corr
0.87	FAHHX	American Funds American	Pair Corr
0.86	FTAHX	American Funds American	Pair Corr
0.87	AHTFX	American High Income	Pair Corr
0.88	AHTCX	American High Income	Pair Corr
0.63	VTISX	Vanguard Total Inter	Pair Corr
0.63	VTSNX	Vanguard Total Inter	Pair Corr
0.63	VTPSX	Vanguard Total Inter	Pair Corr
0.76	IBM	International Business	Pair Corr
0.66	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.72	MMM	3M Company	Pair Corr
0.76	GE	GE Aerospace	Pair Corr

Moving against Nuveen Mutual Fund

0.66	MRK	Merck Company	Pair Corr
0.47	AA	Alcoa Corp	Pair Corr
0.42	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	DHGCX	LMLRX	SMYIX	LFLCX	TEDIX	GMLVX	PHTTX
DHGCX		0.56	0.09	0.87	0.73	0.64	0.7	DHGCX
LMLRX	0.56		0.83	0.55	0.49	0.56	0.97	LMLRX
SMYIX	0.09	0.83		0.03	0.11	0.21	0.72	SMYIX
LFLCX	0.87	0.55	0.03		0.83	0.78	0.7	LFLCX
TEDIX	0.73	0.49	0.11	0.83		0.77	0.65	TEDIX
GMLVX	0.64	0.56	0.21	0.78	0.77		0.68	GMLVX
PHTTX	0.7	0.97	0.72	0.7	0.65	0.68		PHTTX
	DHGCX	LMLRX	SMYIX	LFLCX	TEDIX	GMLVX	PHTTX

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Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen High 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 High'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
DHGCX	0.17	0.00	0.24	(0.17)	0.21	(0.22)	0.36	(0.36)	1.46
LMLRX	0.33	0.01	0.00	(0.05)	0.00	0.00	0.61	(0.69)	2.17
SMYIX	0.82	(0.04)	0.00	(0.11)	0.00	0.00	1.25	(1.72)	4.51
LFLCX	0.18	0.01	0.31	0.08	0.15	(0.21)	0.43	(0.33)	0.98
TEDIX	0.66	0.01	0.00	(0.06)	0.00	0.00	1.01	(1.47)	7.35
GMLVX	0.71	0.04	0.08	0.03	0.91	(0.77)	1.57	(1.62)	5.51
PHTTX	0.35	0.00	0.00	(0.07)	0.00	0.00	0.67	(0.67)	1.95

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