Nuveen Mortgage Correlations

JLS Etf

USD 18.78 0.02 0.11%

The current 90-days correlation between Nuveen Mortgage Oppo and Pioneer Municipal High is 0.25 (i.e., Modest diversification). The correlation of Nuveen Mortgage 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 Mortgage Correlation With Market

Modest diversification

The correlation between Nuveen Mortgage Opportunity and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Mortgage Opportunity 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 Mortgage Opportunity. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Nuveen Etf

0.7	GLDX	USCF Gold Strategy	Pair Corr
0.82	GDXU	MicroSectors Gold Miners	Pair Corr
0.85	SPIB	SPDR Barclays Interm Sell-off Trend	Pair Corr
0.71	GSEU	Goldman Sachs ActiveBeta	Pair Corr
0.89	ACWV	iShares MSCI Global	Pair Corr
0.63	BBEM	JP Morgan Exchange	Pair Corr
0.81	SPHD	Invesco SP 500	Pair Corr
0.64	BNGE	First Trust S	Pair Corr
0.77	JGH	Nuveen Global High	Pair Corr
0.73	LIAE	Stone Ridge 2050	Pair Corr
0.86	GHMS	Goose Hollow Multi	Pair Corr
0.69	CGRO	Tidal Trust II	Pair Corr
0.91	JMST	JPMorgan Ultra Short	Pair Corr
0.92	BKT	BlackRock Income Closed	Pair Corr
0.68	MYCJ	SPDR SSGA My2030	Pair Corr
0.85	MLPB	UBS AG London	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.05	0.54	-0.56	0.21	0.44	0.44	0.89	-0.69	-0.11	META
MSFT	0.05		-0.59	0.14	-0.83	0.57	0.62	0.21	0.21	-0.57	MSFT
UBER	0.54	-0.59		-0.42	0.78	-0.12	-0.21	0.48	-0.59	0.55	UBER
F	-0.56	0.14	-0.42		-0.1	-0.19	-0.25	-0.49	0.42	0.22	F
T	0.21	-0.83	0.78	-0.1		-0.5	-0.53	0.07	-0.46	0.59	T
A	0.44	0.57	-0.12	-0.19	-0.5		0.88	0.68	0.17	-0.26	A
CRM	0.44	0.62	-0.21	-0.25	-0.53	0.88		0.62	0.16	-0.38	CRM
JPM	0.89	0.21	0.48	-0.49	0.07	0.68	0.62		-0.42	0.03	JPM
MRK	-0.69	0.21	-0.59	0.42	-0.46	0.17	0.16	-0.42		-0.17	MRK
XOM	-0.11	-0.57	0.55	0.22	0.59	-0.26	-0.38	0.03	-0.17		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.89	META
CRM	+ 0.88	A
T	+ 0.78	UBER
JPM	+ 0.68	A
CRM	+ 0.62	MSFT
JPM	+ 0.62	CRM

High negative correlations

T	- 0.83	MSFT
MRK	- 0.69	META
MRK	- 0.59	UBER
UBER	- 0.59	MSFT
XOM	- 0.57	MSFT
F	- 0.56	META

Nuveen Mortgage Competition Risk-Adjusted Indicators

There is a big difference between Nuveen Etf performing well and Nuveen Mortgage ETF 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 Mortgage'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
META	1.64	0.04	0.01	0.03	2.35	(1.43)	2.96	(3.73)	8.90
MSFT	1.07	(0.17)	0.00	(0.20)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.92	0.31	0.14	0.48	2.11	(2.12)	4.72	(3.13)	12.75
F	1.45	0.10	0.05	0.09	2.09	(1.45)	2.71	(2.88)	10.14
T	0.99	0.29	0.17	(24.36)	1.45	(1.12)	1.90	(1.55)	11.66
A	1.17	(0.20)	0.00	(0.20)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.43	(0.31)	0.00	(0.28)	0.00	0.00	2.72	(3.53)	8.88
JPM	1.09	0.14	0.08	0.11	1.55	(1.09)	2.16	(1.98)	6.85
MRK	1.24	(0.18)	0.00	1.22	0.00	0.00	2.07	(2.25)	11.58
XOM	1.02	0.17	0.12	0.40	1.24	(1.06)	2.55	(2.36)	5.89

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