Nuveen Small Correlations

Mutual Funds . USA . 
Fund . Nuveen Small Cap
FSCWX Fund  USD 31.20  0.28  0.89%   
The current 90-days correlation between Nuveen Small Cap and Hartford Schroders Emerging is 0.01 (i.e., Significant 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

Good diversification

The correlation between Nuveen Small Cap and DJI is -0.04 (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 housing.

Moving together with Nuveen Mutual Fund

  0.99VSIIX Vanguard Small CapPairCorr
  0.78VISVX Vanguard Small CapPairCorr
  0.98DFSVX Us Small CapPairCorr
  0.99DFFVX Us Targeted ValuePairCorr
  0.98UBVCX Undiscovered ManagersPairCorr
  0.98UBVAX Undiscovered ManagersPairCorr
  0.98UBVSX Undiscovered ManagersPairCorr
  0.98AVFIX American Beacon SmallPairCorr
  0.61HPQ HP IncPairCorr
  0.77JPM JPMorgan ChasePairCorr
  0.61WMT WalmartPairCorr
  0.67BA BoeingPairCorr
  0.87AXP American ExpressPairCorr
  0.83BAC Bank of AmericaPairCorr

Moving against Nuveen Mutual Fund

  0.36T ATT Inc Earnings Call TomorrowPairCorr
  0.6VZ Verizon CommunicationsPairCorr
  0.46PG Procter GamblePairCorr
  0.43JNJ Johnson JohnsonPairCorr

Related Correlations Analysis

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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   
LMOIX
+ 0.94
LMESX
LMESX
+ 0.72
CSMUX
LMOIX
+ 0.65
CSMUX
CSFZX
+ 0.6
SEMTX
LMESX
+ 0.36
CSFZX
LMOIX
+ 0.19
CSFZX
  
High negative correlations   
LMOIX
- 0.07
SEMTX
CSMUX
- 0.07
SEMTX

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.

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