Nuveen Dynamic Correlations

NDMO Stock

USD 10.26 0.01 0.1%

The current 90-days correlation between Nuveen Dynamic Municipal and Blackrock Muni Intermediate is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nuveen Dynamic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nuveen Dynamic Municipal moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nuveen Dynamic Correlation With Market

Modest diversification

The correlation between Nuveen Dynamic Municipal and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Dynamic Municipal 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 Dynamic Municipal. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Nuveen Stock

0.85	V	Visa Class A	Pair Corr
0.62	AC	Associated Capital	Pair Corr
0.62	DB	Deutsche Bank AG	Pair Corr
0.76	DX	Dynex Capital	Pair Corr
0.68	LX	Lexinfintech Holdings	Pair Corr
0.75	MA	Mastercard	Pair Corr
0.76	XP	Xp Inc	Pair Corr
0.73	DOMH	Dominari Holdings Earnings Call This Week	Pair Corr
0.84	GCMGW	GCM Grosvenor	Pair Corr
0.85	EMCGU	Embrace Change Acqui	Pair Corr

Moving against Nuveen Stock

0.64	LC	LendingClub Corp	Pair Corr
0.59	DHIL	Diamond Hill Investment	Pair Corr
0.59	WT	WisdomTree	Pair Corr
0.53	WD	Walker Dunlop	Pair Corr
0.34	BX	Blackstone Group	Pair Corr
0.76	VRTS	Virtus Investment	Pair Corr
0.53	LGHLW	Lion Financial Group	Pair Corr
0.4	ESHA	ESH Acquisition Corp	Pair Corr

Related Correlations Analysis

	MUI	MQY	KTF	MYI	RMI	CXH	JPT	RMM	MHN	IHIT
MUI		-0.57	-0.5	-0.47	-0.54	-0.54	0.0	-0.34	-0.33	0.0	MUI
MQY	-0.57		0.83	0.76	0.71	0.75	0.0	0.73	0.75	0.0	MQY
KTF	-0.5	0.83		0.85	0.76	0.84	0.0	0.83	0.84	0.0	KTF
MYI	-0.47	0.76	0.85		0.83	0.87	0.0	0.79	0.7	0.0	MYI
RMI	-0.54	0.71	0.76	0.83		0.82	0.0	0.9	0.74	0.0	RMI
CXH	-0.54	0.75	0.84	0.87	0.82		0.0	0.71	0.71	0.0	CXH
JPT	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	JPT
RMM	-0.34	0.73	0.83	0.79	0.9	0.71	0.0		0.83	0.0	RMM
MHN	-0.33	0.75	0.84	0.7	0.74	0.71	0.0	0.83		0.0	MHN
IHIT	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		IHIT
	MUI	MQY	KTF	MYI	RMI	CXH	JPT	RMM	MHN	IHIT

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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

RMM	+ 0.9	RMI
CXH	+ 0.87	MYI
MYI	+ 0.85	KTF
CXH	+ 0.84	KTF
MHN	+ 0.84	KTF
KTF	+ 0.83	MQY

High negative correlations

MQY	- 0.57	MUI
CXH	- 0.54	MUI
RMI	- 0.54	MUI
KTF	- 0.5	MUI
MYI	- 0.47	MUI
RMM	- 0.34	MUI

Risk-Adjusted Indicators

There is a big difference between Nuveen Stock performing well and Nuveen Dynamic Company 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 Dynamic'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
MUI	0.46	(0.04)	0.00	0.46	0.00	0.00	0.73	(1.40)	3.95
MQY	0.53	(0.06)	0.00	(0.25)	0.00	0.00	1.04	(1.18)	2.85
KTF	0.36	(0.03)	0.00	(0.37)	0.00	0.00	0.75	(0.95)	2.76
MYI	0.51	0.01	0.06	0.01	0.59	(0.61)	1.09	(1.08)	3.13
RMI	0.46	(0.01)	0.00	(0.11)	0.00	0.00	0.87	(1.13)	2.69
CXH	0.38	(0.01)	0.04	(0.10)	0.56	(0.37)	0.76	(1.00)	2.37
JPT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RMM	0.45	(0.06)	0.00	(0.31)	0.00	0.00	0.69	(1.35)	2.75
MHN	0.47	0.00	0.00	0.00	0.00	0.00	0.87	(1.06)	2.81
IHIT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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