Nuveen ESG Correlations

NULC Etf

USD 48.28 0.14 0.29%

The current 90-days correlation between Nuveen ESG Large and Freedom Day Dividend is 0.8 (i.e., Very poor diversification). The correlation of Nuveen ESG 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.

Nuveen ESG Correlation With Market

Very poor diversification

The correlation between Nuveen ESG Large Cap and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen ESG Large Cap 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 ESG Large Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Nuveen Etf

0.99	VTI	Vanguard Total Stock	Pair Corr
0.98	SPY	SPDR SP 500	Pair Corr
0.98	IVV	iShares Core SP	Pair Corr
0.94	VIG	Vanguard Dividend	Pair Corr
0.98	VV	Vanguard Large Cap	Pair Corr
0.97	RSP	Invesco SP 500	Pair Corr
0.99	IWB	iShares Russell 1000	Pair Corr
0.99	ESGU	iShares ESG Aware	Pair Corr
0.99	DFAC	Dimensional Core Equity	Pair Corr
0.98	SPLG	SPDR Portfolio SP	Pair Corr
0.9	ARKW	ARK Next Generation	Pair Corr
0.81	WTMF	WisdomTree Managed	Pair Corr
0.9	EWC	iShares MSCI Canada	Pair Corr
0.9	BST	BlackRock Science Tech	Pair Corr
0.86	DIS	Walt Disney	Pair Corr
0.69	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.94	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.8	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.84	WMT	Walmart	Pair Corr
0.93	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.87	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.79	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.95	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.88	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Moving against Nuveen Etf

0.59	IRET	Tidal Trust II	Pair Corr
0.83	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.81	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.8	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI
MBOX		-0.12	0.0	-0.45	0.73	0.84	-0.18	0.86	-0.41	MBOX
DIEM	-0.12		0.88	0.1	-0.35	-0.05	0.51	-0.25	0.53	DIEM
MCHI	0.0	0.88		-0.23	-0.07	0.2	0.11	-0.01	0.13	MCHI
DIPS	-0.45	0.1	-0.23		-0.68	-0.79	0.68	-0.68	0.81	DIPS
DISO	0.73	-0.35	-0.07	-0.68		0.8	-0.69	0.83	-0.75	DISO
DIVB	0.84	-0.05	0.2	-0.79	0.8		-0.4	0.95	-0.68	DIVB
DIVD	-0.18	0.51	0.11	0.68	-0.69	-0.4		-0.41	0.85	DIVD
DIVG	0.86	-0.25	-0.01	-0.68	0.83	0.95	-0.41		-0.72	DIVG
DIVI	-0.41	0.53	0.13	0.81	-0.75	-0.68	0.85	-0.72		DIVI
	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI

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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

DIVG	+ 0.95	DIVB
MCHI	+ 0.88	DIEM
DIVG	+ 0.86	MBOX
DIVI	+ 0.85	DIVD
DIVB	+ 0.84	MBOX
DIVG	+ 0.83	DISO

High negative correlations

DIVB	- 0.79	DIPS
DIVI	- 0.75	DISO
DIVI	- 0.72	DIVG
DIVD	- 0.69	DISO
DIVI	- 0.68	DIVB
DIVG	- 0.68	DIPS

Nuveen ESG Constituents Risk-Adjusted Indicators

There is a big difference between Nuveen Etf performing well and Nuveen ESG ETF 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 ESG'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
MBOX	0.57	(0.04)	(0.09)	0.06	0.51	(0.70)	1.25	(0.99)	3.49
DIEM	0.84	0.05	(0.03)	0.36	0.99	(0.87)	2.24	(1.83)	7.08
MCHI	2.07	0.32	0.07	(3.34)	2.55	(2.17)	6.61	(4.52)	19.77
DIPS	1.38	(0.18)	0.00	0.37	0.00	0.00	2.04	(2.90)	8.29
DISO	0.79	0.25	0.21	0.59	0.48	(0.90)	1.60	(1.25)	5.96
DIVB	0.50	(0.01)	(0.06)	0.09	0.30	(0.65)	0.96	(0.74)	3.81
DIVD	0.47	(0.08)	0.00	(0.09)	0.00	0.00	0.95	(0.96)	2.20
DIVG	0.48	(0.03)	(0.12)	0.06	0.48	(0.51)	1.01	(0.86)	3.12
DIVI	0.61	(0.07)	0.00	(0.22)	0.00	0.00	1.34	(1.47)	3.95

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