Nuveen Core Correlations

NPCT Stock

USD 11.08 0.19 1.74%

The correlation of Nuveen Core 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 Core Correlation With Market

Modest diversification

The correlation between Nuveen Core Plus and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Core Plus 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 Core Plus. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Nuveen Stock

0.72	BEN	Franklin Resources	Pair Corr
0.63	JHG	Janus Henderson Group	Pair Corr
0.62	NMFC	New Mountain Finance	Pair Corr
0.63	NTRS	Northern Trust	Pair Corr
0.63	ALLY	Ally Financial	Pair Corr
0.77	APAM	Artisan Partners Asset	Pair Corr
0.84	BBUC	Brookfield Business Corp	Pair Corr
0.65	TPVG	Triplepoint Venture Earnings Call This Week	Pair Corr
0.75	BY	Byline Bancorp	Pair Corr

Moving against Nuveen Stock

0.55	CGBD	Carlyle Secured Lending	Pair Corr
0.32	PYPL	PayPal Holdings	Pair Corr
0.32	LC	LendingClub Corp	Pair Corr

Related Correlations Analysis

	USGA	NANX	BIPH	NNBP	MFIC
USGA		0.0	0.05	0.0	0.0	USGA
NANX	0.0		0.0	0.0	0.0	NANX
BIPH	0.05	0.0		0.0	0.42	BIPH
NNBP	0.0	0.0	0.0		0.0	NNBP
MFIC	0.0	0.0	0.42	0.0		MFIC
	USGA	NANX	BIPH	NNBP	MFIC

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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

MFIC	+ 0.42	BIPH
BIPH	+ 0.05	USGA
NANX	+ 0.0	USGA
NNBP	+ 0.0	USGA
MFIC	+ 0.0	USGA
BIPH	+ 0.0	NANX

High negative correlations

MFIC	- 0.0	NNBP
NNBP	- 0.0	BIPH
MFIC	- 0.0	NANX
NNBP	- 0.0	NANX
BIPH	- 0.0	NANX
MFIC	- 0.0	USGA

Risk-Adjusted Indicators

There is a big difference between Nuveen Stock performing well and Nuveen Core Company 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 Core'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
USGA	32.78	18.34	0.00	0.23	0.00	0.00	0.00	0.00	0.00
NANX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BIPH	1.04	0.06	0.06	0.24	1.21	(1.10)	1.72	(1.83)	9.88
NNBP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MFIC	0.68	0.00	0.01	(0.02)	1.07	(0.64)	1.29	(1.76)	5.75

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