Nuveen Equity Correlations

NELIX Fund

USD 59.32 0.79 1.35%

The current 90-days correlation between Nuveen Equity Longshort and Diamond Hill Long Short is 0.66 (i.e., Poor diversification). The correlation of Nuveen Equity 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 Equity Correlation With Market

Poor diversification

The correlation between Nuveen Equity Longshort and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Equity Longshort 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 Equity Longshort. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Nuveen Mutual Fund

0.95	EMGRX	Nuveen Small Cap	Pair Corr
0.93	FRMPX	Nuveen Small Cap	Pair Corr
0.94	FRSLX	Nuveen Mid Cap	Pair Corr
0.69	NQCCX	Nuveen Nwq Large	Pair Corr
0.67	NQCAX	Nuveen Nwq Large	Pair Corr
0.93	FACSX	Nuveen Mid Cap	Pair Corr
0.66	NQCRX	Nuveen Nwq Large	Pair Corr
0.96	FSCCX	First American Investment	Pair Corr
0.96	FSCVX	Nuveen Small Cap	Pair Corr
0.96	FSCWX	Nuveen Small Cap	Pair Corr
0.96	FSCAX	Nuveen Small Cap	Pair Corr
0.93	FSEIX	Nuveen Mid Cap	Pair Corr
0.84	FAQIX	Nuveen Dividend Value	Pair Corr
0.93	FASEX	Nuveen Mid Cap	Pair Corr

Moving against Nuveen Mutual Fund

0.45	NPSRX	Nuveen Preferred Sec	Pair Corr
0.44	NPSFX	Nuveen Preferred Sec	Pair Corr
0.38	NPSAX	Nuveen Preferred Sec	Pair Corr
0.36	NPSCX	Nuveen Preferred Sec	Pair Corr
0.51	FSHYX	Nuveen Short Term	Pair Corr
0.49	FSFRX	Nuveen Strategic Income	Pair Corr
0.43	FSHAX	Nuveen Short Term	Pair Corr
0.33	NRIAX	Nuveen Real Asset	Pair Corr
0.33	NRIIX	Nuveen Real Asset	Pair Corr
0.33	NRIFX	Nuveen Real Asset	Pair Corr

Related Correlations Analysis

	DHLSX	NELCX	NELAX	GURIX	SAOIX
DHLSX		0.19	0.2	0.29	0.53	DHLSX
NELCX	0.19		1.0	0.12	0.22	NELCX
NELAX	0.2	1.0		0.13	0.23	NELAX
GURIX	0.29	0.12	0.13		0.59	GURIX
SAOIX	0.53	0.22	0.23	0.59		SAOIX
	DHLSX	NELCX	NELAX	GURIX	SAOIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Equity Mutual 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 Equity'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
DHLSX	0.40	0.06	0.15	0.11	0.42	(0.45)	0.86	(0.86)	2.34
NELCX	0.72	(0.06)	0.00	(0.13)	0.00	0.00	1.26	(2.12)	3.94
NELAX	0.72	(0.06)	0.00	(0.12)	0.00	0.00	1.28	(2.13)	3.93
GURIX	0.85	(0.04)	0.00	(0.12)	0.00	0.00	1.55	(1.87)	3.87
SAOIX	0.59	0.03	0.06	0.03	0.86	(0.58)	1.37	(0.90)	4.82

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC