Nuveen Equity Correlations

Mutual Funds . USA . 
Fund . Nuveen Equity Longshort
NELIX Fund  USD 61.35  0.83  1.37%   
The current 90-days correlation between Nuveen Equity Longshort and Diamond Hill Long Short is 0.31 (i.e., Weak 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

Very weak diversification

The correlation between Nuveen Equity Longshort and DJI is 0.46 (i.e., Very weak 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

  0.87FREAX Nuveen Real EstatePairCorr
  0.87FREGX Nuveen Real EstatePairCorr
  0.66FRKSX Nuveen Kansas MunicipalPairCorr
  0.78FRMPX Nuveen Small CapPairCorr
  0.79FRSLX Nuveen Mid CapPairCorr
  0.66FAARX Nuveen All AmericanPairCorr
  0.91NQCCX Nuveen Nwq LargePairCorr
  0.88NQCAX Nuveen Nwq LargePairCorr
  0.66FAAWX Nuveen All AmericanPairCorr
  0.92FACSX Nuveen Mid CapPairCorr
  0.7FACCX Nuveen All AmericanPairCorr
  0.73FAFPX Nuveen Missouri MunicipalPairCorr
  0.71FAFOX Nuveen Kansas MunicipalPairCorr
  0.72FAFMX Nuveen Ohio MunicipalPairCorr
  0.74FAFKX Nuveen Orado MunicipalPairCorr
  0.93FSCCX First American InvestmentPairCorr
  0.93FSCVX Nuveen Small CapPairCorr
  0.93FSCWX Nuveen Small CapPairCorr
  0.93FSCAX Nuveen Small CapPairCorr
  0.92FSEIX Nuveen Mid CapPairCorr
  0.73NQWFX Nuveen Nwq FlexiblePairCorr
  0.78NRIAX Nuveen Real AssetPairCorr
  0.79NRICX Nuveen Real AssetPairCorr
  0.67NRIIX Nuveen Real AssetPairCorr
  0.75NAAGX Nuveen MassachusettsPairCorr
  0.68FTLRX Nuveen Louisiana MunPairCorr
  0.72NAKFX Nuveen CaliforniaPairCorr
  0.96NSBCX Nuveen Santa BarbaraPairCorr
  0.96NSBAX Nuveen Santa BarbaraPairCorr
  0.88NSCAX Nuveen Nwq SmallPairCorr
  0.89NSCFX Nuveen Nwq SmallPairCorr
  0.88NSCCX Nuveen Nwq SmallPairCorr

Related Correlations Analysis

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.

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