Nuveen New Correlations

NAN Fund

USD 11.30 0.02 0.18%

The current 90-days correlation between Nuveen New York and Eaton Vance National is 0.65 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nuveen New moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nuveen New York moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nuveen New Correlation With Market

Average diversification

The correlation between Nuveen New York and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen New York and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nuveen New York. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Nuveen Fund

0.79	PCQ	Pimco California Mun	Pair Corr
0.77	RIV	Rivernorth Opportunities	Pair Corr
0.66	JAAAX	Alternative Asset	Pair Corr
0.7	CBURX	Columbia Income Builder	Pair Corr
0.68	RIRFX	Capital Income Builder	Pair Corr
0.69	RBBCX	Columbia Income Builder	Pair Corr
0.85	MCTAX	Massmutual Retiresmart	Pair Corr
0.64	IGFAX	Vy Morgan Stanley	Pair Corr
0.67	CKKRX	Columbia Income Builder	Pair Corr
0.67	FCFWX	American Funds Retirement	Pair Corr
0.72	BACPX	Blackrock Conservative	Pair Corr
0.7	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.63	MRDVX	Blackrock Eq Dividend	Pair Corr
0.7	JTOIX	Multimanager Lifestyle	Pair Corr
0.77	CITEX	American High Income	Pair Corr
0.83	NHIEX	Neuberger Berman Income	Pair Corr
0.62	TEDPX	Tiaa Cref Emerging	Pair Corr
0.68	XSWZX	Swiss Helvetia	Pair Corr
0.64	PDINX	Putnam Diversified Income	Pair Corr

Related Correlations Analysis

	CXH	CBH	IHTA	EOT	FMN	MHD	DTF	JHS	RMI	MUI
CXH		0.0	0.0	0.82	0.77	0.79	0.82	0.58	0.64	-0.26	CXH
CBH	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CBH
IHTA	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	IHTA
EOT	0.82	0.0	0.0		0.91	0.81	0.73	0.61	0.66	-0.15	EOT
FMN	0.77	0.0	0.0	0.91		0.9	0.78	0.41	0.81	-0.1	FMN
MHD	0.79	0.0	0.0	0.81	0.9		0.83	0.31	0.81	-0.08	MHD
DTF	0.82	0.0	0.0	0.73	0.78	0.83		0.31	0.85	-0.2	DTF
JHS	0.58	0.0	0.0	0.61	0.41	0.31	0.31		0.09	-0.07	JHS
RMI	0.64	0.0	0.0	0.66	0.81	0.81	0.85	0.09		-0.11	RMI
MUI	-0.26	0.0	0.0	-0.15	-0.1	-0.08	-0.2	-0.07	-0.11		MUI
	CXH	CBH	IHTA	EOT	FMN	MHD	DTF	JHS	RMI	MUI

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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

FMN	+ 0.91	EOT
MHD	+ 0.9	FMN
RMI	+ 0.85	DTF
DTF	+ 0.83	MHD
EOT	+ 0.82	CXH
DTF	+ 0.82	CXH

High negative correlations

MUI	- 0.26	CXH
MUI	- 0.2	DTF
MUI	- 0.15	EOT
MUI	- 0.11	RMI
MUI	- 0.1	FMN
MUI	- 0.08	MHD

Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen New 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 New'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	0.42	(0.06)	0.00	0.99	0.00	0.00	0.76	(1.01)	2.37
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IHTA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EOT	0.48	(0.04)	0.00	(0.25)	0.00	0.00	1.01	(1.28)	2.87
FMN	0.45	(0.04)	0.00	(0.31)	0.00	0.00	0.81	(0.99)	3.00
MHD	0.51	(0.06)	0.00	(0.52)	0.00	0.00	0.94	(1.04)	2.80
DTF	0.32	(0.02)	0.00	(0.83)	0.00	0.00	0.72	(0.62)	1.72
JHS	0.37	(0.01)	0.00	(0.12)	0.00	0.00	0.64	(0.91)	2.23
RMI	0.41	0.06	0.23	0.30	0.41	(0.49)	0.95	(0.97)	2.69
MUI	0.40	(0.02)	0.00	(0.68)	0.00	0.00	0.58	(1.01)	3.07

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