Nuveen Small Correlations

FRMPX Fund

USD 28.45 0.12 0.42%

The current 90-days correlation between Nuveen Small Cap and American Century High is 0.39 (i.e., Weak 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

Very poor diversification

The correlation between Nuveen Small Cap and DJI is 0.83 (i.e., Very poor 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 american community survey.

Moving together with Nuveen Mutual Fund

0.99	EMGRX	Nuveen Small Cap	Pair Corr
0.98	FRSLX	Nuveen Mid Cap	Pair Corr
0.96	NQCCX	Nuveen Nwq Large	Pair Corr
0.96	NQCAX	Nuveen Nwq Large	Pair Corr
0.96	FACSX	Nuveen Mid Cap	Pair Corr
0.96	NQCRX	Nuveen Nwq Large	Pair Corr
0.95	FSCCX	First American Investment	Pair Corr
0.95	FSCVX	Nuveen Small Cap	Pair Corr
0.95	FSCWX	Nuveen Small Cap	Pair Corr
0.95	FSCAX	Nuveen Small Cap	Pair Corr
0.96	FSEIX	Nuveen Mid Cap	Pair Corr
0.87	FAQIX	Nuveen Dividend Value	Pair Corr
0.96	FASEX	Nuveen Mid Cap	Pair Corr

Moving against Nuveen Mutual Fund

0.62	FRKSX	Nuveen Kansas Municipal	Pair Corr
0.51	FACCX	Nuveen All American	Pair Corr
0.47	FAARX	Nuveen All American	Pair Corr
0.45	FAAWX	Nuveen All American	Pair Corr
0.75	FALTX	Nuveen Short Term	Pair Corr
0.69	FAFLX	Nuveen Louisiana Mun	Pair Corr
0.69	FAFJX	Nuveen Limited Term	Pair Corr
0.68	FAFMX	Nuveen Ohio Municipal	Pair Corr
0.66	FAFOX	Nuveen Kansas Municipal	Pair Corr
0.41	FAFNX	Nuveen Michigan Municipal	Pair Corr
0.48	FSFRX	Nuveen Strategic Income	Pair Corr

Related Correlations Analysis

	ACHFX	SGYAX	CYBAX	BHYRX	PHYSX	PKHIX	RHYKX
ACHFX		0.9	0.92	0.98	0.85	0.93	0.9	ACHFX
SGYAX	0.9		0.76	0.86	0.92	0.9	0.93	SGYAX
CYBAX	0.92	0.76		0.93	0.78	0.93	0.86	CYBAX
BHYRX	0.98	0.86	0.93		0.83	0.92	0.88	BHYRX
PHYSX	0.85	0.92	0.78	0.83		0.92	0.96	PHYSX
PKHIX	0.93	0.9	0.93	0.92	0.92		0.97	PKHIX
RHYKX	0.9	0.93	0.86	0.88	0.96	0.97		RHYKX
	ACHFX	SGYAX	CYBAX	BHYRX	PHYSX	PKHIX	RHYKX

Click cells to compare fundamentals

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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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ACHFX	0.13	0.01	(0.58)	0.25	(0.21)	0.35	(0.23)	0.93
SGYAX	0.14	0.02	(0.51)	0.40	(0.26)	0.28	(0.14)	1.28
CYBAX	0.10	0.01	(0.87)	(2.35)	(0.13)	0.24	(0.16)	0.73
BHYRX	0.11	0.01	(0.55)	0.21	(0.22)	0.28	(0.28)	0.85
PHYSX	0.11	0.01	(0.45)	0.29	(0.16)	0.22	(0.22)	0.78
PKHIX	0.11	0.02	(0.51)	(1.46)	(0.18)	0.34	(0.22)	0.90
RHYKX	0.15	0.05	(0.35)	(2.70)	(0.29)	0.37	(0.19)	1.30

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