Nuveen High Correlations

Mutual Funds . USA . 
Fund . Nuveen High Yield
NHCCX Fund  USD 14.67  0.04  0.27%   
The current 90-days correlation between Nuveen High Yield and Nuveen High Yield is 0.98 (i.e., Almost no diversification). The correlation of Nuveen High 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 High Correlation With Market

Average diversification

The correlation between Nuveen High Yield and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen High Yield 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 High Yield. 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 main economic indicators.

Moving together with Nuveen Mutual Fund

  0.72FREAX Nuveen Real EstatePairCorr
  0.73FREGX Nuveen Real EstatePairCorr
  0.79NPSAX Nuveen Preferred SecPairCorr
  0.78NPSFX Nuveen Preferred SecPairCorr
  0.8NPSCX Nuveen Preferred SecPairCorr
  0.78NPSRX Nuveen Preferred SecPairCorr
  0.99FRKSX Nuveen Kansas MunicipalPairCorr
  0.71FRLCX Nuveen Real EstatePairCorr
  0.98FAARX Nuveen All AmericanPairCorr
  0.99FAAWX Nuveen All AmericanPairCorr
  0.98FACCX Nuveen All AmericanPairCorr
  0.96FAFPX Nuveen Missouri MunicipalPairCorr
  0.99FAFOX Nuveen Kansas MunicipalPairCorr
  0.92FAFNX Nuveen Michigan MunicipalPairCorr
  0.63NQGCX Nuveen Nwq GlobalPairCorr
  0.98FAFMX Nuveen Ohio MunicipalPairCorr
  0.97FAFLX Nuveen Louisiana MunPairCorr
  0.96FAFKX Nuveen Orado MunicipalPairCorr
  0.62NQGAX Nuveen Nwq GlobalPairCorr
  0.91FAFJX Nuveen Limited TermPairCorr
  0.62NQGIX Nuveen Nwq GlobalPairCorr
  0.96FAMAX Nuveen Minnesota IntPairCorr
  0.94FAMTX Nuveen Minnesota IntPairCorr
  0.73FARCX Nuveen Real EstatePairCorr
  0.75FSHAX Nuveen Short TermPairCorr
  0.75FSFRX Nuveen Strategic IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen High 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 High'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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