Nuveen High Correlations

Mutual Funds . USA . 
Fund . Nuveen High Yield
NHCCX Fund  USD 14.91  0.07  0.47%   
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

  0.69EMGRX Nuveen Small CapPairCorr
  0.75FREAX Nuveen Real EstatePairCorr
  0.76FREGX Nuveen Real EstatePairCorr
  0.99FRKSX Nuveen Kansas MunicipalPairCorr
  0.75FRLCX Nuveen Real EstatePairCorr
  0.99FAARX Nuveen All AmericanPairCorr
  0.8NQCCX Nuveen Nwq LargePairCorr
  0.81NQCAX Nuveen Nwq LargePairCorr
  0.99FAAWX Nuveen All AmericanPairCorr
  0.68FACSX Nuveen Mid CapPairCorr
  0.99FACCX Nuveen All AmericanPairCorr
  0.81NQCRX Nuveen Nwq LargePairCorr
  0.97FAFPX Nuveen Missouri MunicipalPairCorr
  0.99FAFOX Nuveen Kansas MunicipalPairCorr
  0.95FAFNX Nuveen Michigan MunicipalPairCorr
  0.98FAFMX Nuveen Ohio MunicipalPairCorr
  0.98FAFLX Nuveen Louisiana MunPairCorr
  0.96FAFKX Nuveen Orado MunicipalPairCorr
  0.91FAFJX Nuveen Limited TermPairCorr
  0.97FAMAX Nuveen Minnesota IntPairCorr
  0.98FAMTX Nuveen Minnesota IntPairCorr
  0.71FSCCX First American InvestmentPairCorr
  0.71FSCVX Nuveen Small CapPairCorr
  0.71FSCWX Nuveen Small CapPairCorr
  0.71FSCAX Nuveen Small CapPairCorr
  0.68FSEIX Nuveen Mid CapPairCorr
  0.71FAQIX Nuveen Dividend ValuePairCorr
  0.76FARCX Nuveen Real EstatePairCorr
  0.68FASEX Nuveen Mid CapPairCorr
  0.68FSFRX Nuveen Strategic IncomePairCorr

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 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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