Nuveen Preferred Correlations

Mutual Funds . USA . 
Fund . Nuveen Preferred Securities
NPSFX Fund  USD 15.67  0.01  0.06%   
The current 90-days correlation between Nuveen Preferred Sec and Pimco Mortgage Opportunities is 0.16 (i.e., Average 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

Good diversification

The correlation between Nuveen Preferred Securities and DJI is -0.19 (i.e., Good 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 census.

Moving together with Nuveen Mutual Fund

  0.65FREAX Nuveen Real EstatePairCorr
  0.67FREGX Nuveen Real EstatePairCorr
  0.98NPSAX Nuveen Preferred SecPairCorr
  0.97NPSCX Nuveen Preferred SecPairCorr
  0.98NPSRX Nuveen Preferred SecPairCorr
  0.8FRKSX Nuveen Kansas MunicipalPairCorr
  0.64FRLCX Nuveen Real EstatePairCorr
  0.75FAARX Nuveen All AmericanPairCorr
  0.75FAAWX Nuveen All AmericanPairCorr
  0.69FACCX Nuveen All AmericanPairCorr
  0.72FAFOX Nuveen Kansas MunicipalPairCorr
  0.88NQGCX Nuveen Nwq GlobalPairCorr
  0.71FAFLX Nuveen Louisiana MunPairCorr
  0.88NQGAX Nuveen Nwq GlobalPairCorr
  0.91FAFJX Nuveen Limited TermPairCorr
  0.88NQGIX Nuveen Nwq GlobalPairCorr
  0.83FAMAX Nuveen Minnesota IntPairCorr
  0.85FAMTX Nuveen Minnesota IntPairCorr
  0.66FARCX Nuveen Real EstatePairCorr
  0.96FSHAX Nuveen Short TermPairCorr
  0.96FSFRX Nuveen Strategic IncomePairCorr

Moving against Nuveen Mutual Fund

  0.69FRMPX Nuveen Small CapPairCorr
  0.62EMGRX Nuveen Small CapPairCorr
  0.62FRSLX Nuveen Mid CapPairCorr
  0.4FACSX Nuveen Mid CapPairCorr
  0.51FSCVX Nuveen Small CapPairCorr
  0.5FSCAX Nuveen Small CapPairCorr
  0.49FSCCX First American InvestmentPairCorr
  0.49FSCWX Nuveen Small CapPairCorr
  0.39FASEX Nuveen Mid CapPairCorr
  0.38FSEIX 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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