Nuveen Dividend Correlations

Etfs . USA . 
Etf . Nuveen Dividend Growth
NDVG Etf  USD 31.66  0.49  1.57%   
The current 90-days correlation between Nuveen Dividend Growth and SHP ETF Trust is 0.89 (i.e., Very poor diversification). The correlation of Nuveen Dividend 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 Dividend Correlation With Market

Poor diversification

The correlation between Nuveen Dividend Growth and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Dividend Growth 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 Dividend Growth. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Nuveen Etf

  0.94VTI Vanguard Total StockPairCorr
  0.95SPY SPDR SP 500PairCorr
  0.95IVV iShares Core SPPairCorr
  0.94VIG Vanguard DividendPairCorr
  0.95VV Vanguard Large CapPairCorr
  0.92RSP Invesco SP 500PairCorr
  0.95IWB iShares Russell 1000PairCorr
  0.93ESGU iShares ESG AwarePairCorr
  0.93DFAC Dimensional Core EquityPairCorr
  0.95SPLG SPDR Portfolio SPPairCorr
  0.91UPRO ProShares UltraPro SP500PairCorr
  0.85QTJA Innovator ETFs TrustPairCorr
  0.92QTOC Innovator ETFs TrustPairCorr
  0.95XTOC Innovator ETFs TrustPairCorr
  0.85QTAP Innovator Growth 100PairCorr
  0.87XTJA Innovator ETFs TrustPairCorr
  0.78XTAP Innovator Equity AccPairCorr
  0.72DIS Walt DisneyPairCorr
  0.82WMT WalmartPairCorr
  0.83HD Home DepotPairCorr
  0.81AXP American ExpressPairCorr
  0.63BA BoeingPairCorr
  0.67HPQ HP IncPairCorr

Moving against Nuveen Etf

  0.33MRK Merck Company Sell-off TrendPairCorr

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   
NFLT
+ 0.87
MINO
MINO
+ 0.17
KOCG
NFLT
+ 0.03
KOCG
NVQ
+ 0.0
KOCG
JZRO
+ 0.0
KOCG
NVQ
+ 0.0
MINO
  
High negative correlations   
NFLT
- 0.0
JZRO
NFLT
- 0.0
NVQ
JZRO
- 0.0
NVQ
JZRO
- 0.0
MINO
NVQ
- 0.0
MINO
JZRO
- 0.0
KOCG

Nuveen Dividend Constituents Risk-Adjusted Indicators

There is a big difference between Nuveen Etf performing well and Nuveen Dividend 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 Dividend'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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