Nuveen Select Correlations

NIM Fund

USD 9.28 0.03 0.32%

The current 90-days correlation between Nuveen Select Maturities and Nuveen Amt Free Municipal is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nuveen Select moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nuveen Select Maturities moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nuveen Select Correlation With Market

Average diversification

The correlation between Nuveen Select Maturities and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Select Maturities 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 Select Maturities. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Nuveen Fund

0.74	LIIAX	Columbia Porate Income	Pair Corr
0.76	SRINX	Columbia Porate Income	Pair Corr
0.88	TEDLX	Tiaa Cref Emerging	Pair Corr
0.78	PBAIX	Blackrock Tactical	Pair Corr
0.76	FMIYX	International Fund	Pair Corr
0.89	TEDNX	Tiaa Cref Emerging	Pair Corr
0.73	ABNTX	Ab Bond Inflation	Pair Corr
0.7	HSXCX	Hartford Schroders	Pair Corr
0.91	BASIX	Blackrock Strategic Opps	Pair Corr
0.87	UMNIX	Lazard Short Duration	Pair Corr
0.9	FSTFX	Fidelity Limited Term	Pair Corr
0.71	USIPX	Ubs Ultra Short	Pair Corr
0.91	ECDAX	Ashmore Emerging Markets	Pair Corr
0.8	MEDEX	Mfs Emerging Markets	Pair Corr
0.81	GOIGX	John Hancock Interna	Pair Corr
0.9	BNDAX	Total Return Bond	Pair Corr
0.68	DNCGX	Dunham Porategovernment	Pair Corr
0.84	TSILX	Tiaa Cref Lifestyle	Pair Corr
0.81	GCRTX	Goldman Sachs Absolute	Pair Corr
0.89	PXHAX	Pax High Yield	Pair Corr
0.76	PSDLX	Putnam Short Duration	Pair Corr
0.84	FNSHX	Fidelity Freedom Income	Pair Corr
0.66	VTSNX	Vanguard Total Inter	Pair Corr
0.78	HIPAX	The Hartford Inflation	Pair Corr
0.79	BBBMX	Bbh Limited Duration	Pair Corr
0.88	TEDVX	Tiaa Cref Emerging	Pair Corr
0.81	PGIPX	Pgim Esg Short	Pair Corr
0.87	TRIPX	Tiaa Cref International	Pair Corr
0.83	PRIHX	T Rowe Price	Pair Corr

Moving against Nuveen Fund

0.4

RYAQX

Inverse Government Long

Pair Corr

Related Correlations Analysis

	GCMGW	VMO	BTT	RQI	NUW	EVY	NXN	ENX	PNF
GCMGW		0.4	0.56	0.33	0.6	0.0	0.49	0.32	0.21	GCMGW
VMO	0.4		0.85	0.85	0.92	0.0	0.86	0.93	0.87	VMO
BTT	0.56	0.85		0.9	0.9	0.0	0.95	0.81	0.83	BTT
RQI	0.33	0.85	0.9		0.84	0.0	0.9	0.8	0.87	RQI
NUW	0.6	0.92	0.9	0.84		0.0	0.92	0.85	0.77	NUW
EVY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	EVY
NXN	0.49	0.86	0.95	0.9	0.92	0.0		0.81	0.83	NXN
ENX	0.32	0.93	0.81	0.8	0.85	0.0	0.81		0.9	ENX
PNF	0.21	0.87	0.83	0.87	0.77	0.0	0.83	0.9		PNF
	GCMGW	VMO	BTT	RQI	NUW	EVY	NXN	ENX	PNF

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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

NXN	+ 0.95	BTT
ENX	+ 0.93	VMO
NUW	+ 0.92	VMO
NXN	+ 0.92	NUW
RQI	+ 0.9	BTT
NUW	+ 0.9	BTT

High negative correlations

PNF	- 0.0	EVY
ENX	- 0.0	EVY
NXN	- 0.0	EVY
EVY	- 0.0	NUW
EVY	- 0.0	RQI
EVY	- 0.0	BTT

Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen Select 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 Select'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
GCMGW	5.98	1.61	0.21	18.33	6.59	(7.30)	15.19	(10.70)	36.41
VMO	0.46	0.04	0.15	0.16	0.51	(0.55)	1.06	(1.13)	2.36
BTT	0.31	0.02	0.16	0.09	0.40	(0.30)	0.63	(0.61)	1.56
RQI	0.80	0.03	0.00	(0.02)	0.00	0.00	1.88	(1.82)	5.65
NUW	0.31	0.04	0.20	0.24	0.34	(0.36)	0.66	(0.67)	1.83
EVY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NXN	0.30	0.00	0.13	(0.11)	0.34	(0.40)	0.62	(0.60)	1.38
ENX	0.50	0.03	0.12	0.10	0.61	(0.53)	1.04	(1.14)	3.16
PNF	0.49	0.00	0.00	(0.08)	0.00	0.00	0.90	(1.08)	3.13

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