Nuveen New Correlations

NRK Fund

USD 10.39 0.07 0.68%

The current 90-days correlation between Nuveen New York and Western Asset Managed is 0.21 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nuveen New moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nuveen New York moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nuveen New Correlation With Market

Good diversification

The correlation between Nuveen New York and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen New York 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 New York. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Nuveen Fund

0.68	PCQ	Pimco California Mun	Pair Corr
0.77	RIV	Rivernorth Opportunities	Pair Corr
0.7	JAAAX	Alternative Asset	Pair Corr
0.83	CBURX	Columbia Income Builder	Pair Corr
0.69	RIRFX	Capital Income Builder	Pair Corr
0.73	RBBCX	Columbia Income Builder	Pair Corr
0.63	UTDIX	My529 International Value	Pair Corr
0.74	MCTAX	Massmutual Retiresmart	Pair Corr
0.7	IGFAX	Vy Morgan Stanley	Pair Corr
0.72	CKKRX	Columbia Income Builder	Pair Corr
0.71	FCFWX	American Funds Retirement	Pair Corr
0.64	RGLDX	American Funds Global	Pair Corr
0.74	BACPX	Blackrock Conservative	Pair Corr
0.61	CCLFX	Cliffwater Corporate	Pair Corr
0.73	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.68	MRDVX	Blackrock Eq Dividend	Pair Corr
0.74	JTOIX	Multimanager Lifestyle	Pair Corr
0.88	CITEX	American High Income	Pair Corr
0.79	NHIEX	Neuberger Berman Income	Pair Corr
0.65	TEDPX	Tiaa Cref Emerging	Pair Corr
0.66	XSWZX	Swiss Helvetia	Pair Corr
0.63	PDINX	Putnam Diversified Income	Pair Corr

Related Correlations Analysis

	MHN	NAN	MMU	GGT-PE	CXH	CBH	IHTA	EOT	FMN	MVF
MHN		0.73	0.76	0.12	0.79	0.0	0.0	0.83	0.83	0.8	MHN
NAN	0.73		0.87	0.25	0.78	0.0	0.0	0.8	0.83	0.77	NAN
MMU	0.76	0.87		0.2	0.69	0.0	0.0	0.71	0.86	0.94	MMU
GGT-PE	0.12	0.25	0.2		0.15	0.0	0.0	0.18	0.21	0.18	GGT-PE
CXH	0.79	0.78	0.69	0.15		0.0	0.0	0.82	0.77	0.68	CXH
CBH	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CBH
IHTA	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	IHTA
EOT	0.83	0.8	0.71	0.18	0.82	0.0	0.0		0.91	0.74	EOT
FMN	0.83	0.83	0.86	0.21	0.77	0.0	0.0	0.91		0.84	FMN
MVF	0.8	0.77	0.94	0.18	0.68	0.0	0.0	0.74	0.84		MVF
	MHN	NAN	MMU	GGT-PE	CXH	CBH	IHTA	EOT	FMN	MVF

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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

MVF	+ 0.94	MMU
FMN	+ 0.91	EOT
MMU	+ 0.87	NAN
FMN	+ 0.86	MMU
MVF	+ 0.84	FMN
EOT	+ 0.83	MHN

High negative correlations

MVF	- 0.0	IHTA
FMN	- 0.0	IHTA
EOT	- 0.0	IHTA
MVF	- 0.0	CBH
FMN	- 0.0	CBH
EOT	- 0.0	CBH

Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen New 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 New'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
MHN	0.47	(0.06)	0.00	(0.38)	0.00	0.00	0.69	(1.23)	2.81
NAN	0.38	(0.01)	0.00	(0.28)	0.00	0.00	1.00	(0.70)	2.72
MMU	0.41	0.05	0.21	0.42	0.39	(0.50)	0.89	(0.86)	3.24
GGT-PE	0.30	0.00	0.12	(0.05)	0.36	(0.49)	0.75	(0.78)	2.66
CXH	0.42	(0.06)	0.00	0.99	0.00	0.00	0.76	(1.01)	2.37
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IHTA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EOT	0.48	(0.04)	0.00	(0.25)	0.00	0.00	1.01	(1.28)	2.87
FMN	0.45	(0.04)	0.00	(0.31)	0.00	0.00	0.81	(0.99)	3.00
MVF	0.50	0.04	0.16	0.41	0.60	(0.56)	1.28	(1.13)	3.98

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