Nuveen Core Correlations

JCE Fund

USD 15.67 0.03 0.19%

The correlation of Nuveen Core 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.

Nuveen Core Correlation With Market

Poor diversification

The correlation between Nuveen Core Equity and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Core Equity and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Nuveen Core Equity. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Nuveen Fund

0.84	NTG	Tortoise Mlp Closed	Pair Corr
0.91	AMEIX	Equity Growth	Pair Corr
0.9	GAPIX	Goldman Sachs Equity	Pair Corr
0.66	AAAMX	American Century One	Pair Corr
0.9	AMGIX	Income Growth	Pair Corr
0.67	LIGYX	Loomis Sayles Intern	Pair Corr
0.88	MLMAX	Global E Portfolio	Pair Corr
0.9	SAGAX	Ridgeworth Innovative	Pair Corr
0.75	BAC	Bank of America Aggressive Push	Pair Corr
0.61	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.83	HD	Home Depot Sell-off Trend	Pair Corr
0.74	DIS	Walt Disney Aggressive Push	Pair Corr
0.88	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.65	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.79	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.83	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.85	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.75	CVX	Chevron Corp Sell-off Trend	Pair Corr

Moving against Nuveen Fund

0.61	VVR	Invesco Senior Income	Pair Corr
0.7	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.65	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.59	KO	Coca Cola Sell-off Trend	Pair Corr

Related Correlations Analysis

	CXH	EVN	DTF	444859BR2	SCRYY	AQUI	APAAX	SCRYX	LBHIX	MSTSX
CXH		0.56	0.44	-0.1	0.39	0.0	0.81	0.04	0.53	0.28	CXH
EVN	0.56		-0.04	0.39	-0.33	0.0	0.7	-0.45	-0.03	-0.03	EVN
DTF	0.44	-0.04		-0.37	0.43	0.0	0.12	0.48	0.44	0.09	DTF
444859BR2	-0.1	0.39	-0.37		-0.53	0.0	0.06	-0.55	-0.54	-0.45	444859BR2
SCRYY	0.39	-0.33	0.43	-0.53		0.0	0.14	0.57	0.48	0.34	SCRYY
AQUI	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AQUI
APAAX	0.81	0.7	0.12	0.06	0.14	0.0		-0.12	0.49	0.25	APAAX
SCRYX	0.04	-0.45	0.48	-0.55	0.57	0.0	-0.12		0.67	0.61	SCRYX
LBHIX	0.53	-0.03	0.44	-0.54	0.48	0.0	0.49	0.67		0.68	LBHIX
MSTSX	0.28	-0.03	0.09	-0.45	0.34	0.0	0.25	0.61	0.68		MSTSX
	CXH	EVN	DTF	444859BR2	SCRYY	AQUI	APAAX	SCRYX	LBHIX	MSTSX

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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

APAAX	+ 0.81	CXH
APAAX	+ 0.7	EVN
MSTSX	+ 0.68	LBHIX
LBHIX	+ 0.67	SCRYX
MSTSX	+ 0.61	SCRYX
SCRYX	+ 0.57	SCRYY

High negative correlations

SCRYX	- 0.55	444859BR2
LBHIX	- 0.54	444859BR2
SCRYY	- 0.53	444859BR2
MSTSX	- 0.45	444859BR2
SCRYX	- 0.45	EVN
444859BR2	- 0.37	DTF

Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen Core 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 Core'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
CXH	0.34	0.05	(0.17)	(0.19)	0.40	(0.38)	0.86	(0.74)	2.10
EVN	0.46	0.00	(0.19)	0.23	0.60	(0.51)	1.02	(1.05)	2.73
DTF	0.23	0.01	(0.35)	(0.09)	0.23	(0.28)	0.54	(0.36)	1.96
444859BR2	1.36	(0.08)	0.00	(0.21)	0.00	0.00	5.93	(5.79)	16.62
SCRYY	2.07	0.29	0.08	1.93	2.02	(2.85)	5.61	(4.09)	12.99
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
APAAX	0.14	0.02	(0.35)	(0.09)	0.15	(0.18)	0.31	(0.31)	1.13
SCRYX	0.95	(0.04)	0.02	0.09	0.91	(1.09)	2.10	(1.69)	7.88
LBHIX	0.12	0.01	(0.39)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
MSTSX	0.49	(0.03)	(0.12)	0.06	0.52	(0.61)	1.21	(1.02)	2.80

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