Nuveen Preferred Correlations

Mutual Funds USA . 
Fund . Nuveen Preferred Securities
NPSAX Fund  USD 15.62  0.01  0.06%   
The current 90-days correlation between Nuveen Preferred Sec and Western Asset High is 0.82 (i.e., Very poor diversification). The correlation of Nuveen Preferred 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 Preferred Correlation With Market

Modest diversification

The correlation between Nuveen Preferred Securities and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Preferred Securities 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 Preferred Securities. 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 nation.

Moving together with Nuveen Mutual Fund

  0.72FREAX Nuveen Real EstatePairCorr
  0.73FREGX Nuveen Real EstatePairCorr
  0.98NPSFX Nuveen Preferred SecPairCorr
  1.0NPSCX Nuveen Preferred SecPairCorr
  1.0NPSRX Nuveen Preferred SecPairCorr
  0.83FRKSX Nuveen Kansas MunicipalPairCorr
  0.7FRLCX Nuveen Real EstatePairCorr
  0.78FAARX Nuveen All AmericanPairCorr
  0.78FAAWX Nuveen All AmericanPairCorr
  0.72FACCX Nuveen All AmericanPairCorr
  0.75FAFOX Nuveen Kansas MunicipalPairCorr
  0.91NQGCX Nuveen Nwq GlobalPairCorr
  0.61FAFMX Nuveen Ohio MunicipalPairCorr
  0.74FAFLX Nuveen Louisiana MunPairCorr
  0.91NQGAX Nuveen Nwq GlobalPairCorr
  0.93FAFJX Nuveen Limited TermPairCorr
  0.91NQGIX Nuveen Nwq GlobalPairCorr
  0.85FAMAX Nuveen Minnesota IntPairCorr
  0.87FAMTX Nuveen Minnesota IntPairCorr
  0.73FARCX Nuveen Real EstatePairCorr
  0.97FSHAX Nuveen Short TermPairCorr
  0.98FSFRX Nuveen Strategic IncomePairCorr

Moving against Nuveen Mutual Fund

  0.64FRMPX Nuveen Small CapPairCorr
  0.58FRSLX Nuveen Mid CapPairCorr
  0.56EMGRX Nuveen Small CapPairCorr
  0.32FACSX Nuveen Mid CapPairCorr
  0.44FSCVX Nuveen Small CapPairCorr
  0.42FSCCX First American InvestmentPairCorr
  0.42FSCWX Nuveen Small CapPairCorr
  0.42FSCAX Nuveen Small CapPairCorr
  0.31FASEX Nuveen Mid CapPairCorr

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 Preferred 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 Preferred'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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