Nuveen Short-duration Correlations

NVCCX Fund

USD 9.57 0.03 0.31%

The current 90-days correlation between Nuveen Short Duration and Rmb Mendon Financial is 0.15 (i.e., Average diversification). The correlation of Nuveen Short-duration 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 Short-duration Correlation With Market

Good diversification

The correlation between Nuveen Short Duration High and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Short Duration High 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 Short Duration High. 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 main economic indicators.

Moving together with Nuveen Mutual Fund

0.74	FREAX	Nuveen Real Estate	Pair Corr
0.75	FREGX	Nuveen Real Estate	Pair Corr
0.93	NPSAX	Nuveen Preferred Sec	Pair Corr
0.92	NPSFX	Nuveen Preferred Sec	Pair Corr
0.93	NPSCX	Nuveen Preferred Sec	Pair Corr
0.92	NPSRX	Nuveen Preferred Sec	Pair Corr
0.96	FRKSX	Nuveen Kansas Municipal	Pair Corr
0.73	FRLCX	Nuveen Real Estate	Pair Corr
0.95	FAARX	Nuveen All American	Pair Corr
0.95	FAAWX	Nuveen All American	Pair Corr
0.91	FACCX	Nuveen All American	Pair Corr
0.82	FAFPX	Nuveen Missouri Municipal	Pair Corr
0.92	FAFOX	Nuveen Kansas Municipal	Pair Corr
0.71	FAFNX	Nuveen Michigan Municipal	Pair Corr
0.76	NQGCX	Nuveen Nwq Global	Pair Corr
0.84	FAFMX	Nuveen Ohio Municipal	Pair Corr
0.92	FAFLX	Nuveen Louisiana Mun	Pair Corr
0.81	FAFKX	Nuveen Orado Municipal	Pair Corr
0.77	NQGAX	Nuveen Nwq Global	Pair Corr
0.99	FAFJX	Nuveen Limited Term	Pair Corr
0.77	NQGIX	Nuveen Nwq Global	Pair Corr
0.94	FAMAX	Nuveen Minnesota Int	Pair Corr
0.99	FAMTX	Nuveen Minnesota Int	Pair Corr
0.76	FARCX	Nuveen Real Estate	Pair Corr
0.93	FSHAX	Nuveen Short Term	Pair Corr
0.92	FSFRX	Nuveen Strategic Income	Pair Corr

Moving against Nuveen Mutual Fund

0.51	FRMPX	Nuveen Small Cap	Pair Corr
0.45	FRSLX	Nuveen Mid Cap	Pair Corr
0.44	EMGRX	Nuveen Small Cap	Pair Corr
0.33	FSCVX	Nuveen Small Cap	Pair Corr
0.32	FSCCX	First American Investment	Pair Corr
0.32	FSCAX	Nuveen Small Cap	Pair Corr
0.31	FSCWX	Nuveen Small Cap	Pair Corr

Related Correlations Analysis

	RMBKX	MSVIX	XFINX	FTIXX	RMBLX	MCBXX	BTO	PGFMX
RMBKX		0.85	0.48	0.0	1.0	0.0	0.92	0.44	RMBKX
MSVIX	0.85		0.37	0.0	0.85	0.0	0.87	0.17	MSVIX
XFINX	0.48	0.37		0.0	0.48	0.0	0.51	0.52	XFINX
FTIXX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	FTIXX
RMBLX	1.0	0.85	0.48	0.0		0.0	0.92	0.45	RMBLX
MCBXX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	MCBXX
BTO	0.92	0.87	0.51	0.0	0.92	0.0		0.42	BTO
PGFMX	0.44	0.17	0.52	0.0	0.45	0.0	0.42		PGFMX
	RMBKX	MSVIX	XFINX	FTIXX	RMBLX	MCBXX	BTO	PGFMX

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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

RMBLX	+ 1.0	RMBKX
BTO	+ 0.92	RMBKX
BTO	+ 0.92	RMBLX
BTO	+ 0.87	MSVIX
MSVIX	+ 0.85	RMBKX
RMBLX	+ 0.85	MSVIX

High negative correlations

PGFMX	- 0.0	MCBXX
BTO	- 0.0	MCBXX
MCBXX	- 0.0	RMBLX
PGFMX	- 0.0	FTIXX
BTO	- 0.0	FTIXX
MCBXX	- 0.0	FTIXX

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Short-duration 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 Short-duration'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
RMBKX	1.13	(0.15)	0.00	(0.14)	0.00	0.00	2.19	(3.08)	6.79
MSVIX	0.98	(0.21)	0.00	(0.19)	0.00	0.00	1.60	(2.19)	10.85
XFINX	0.15	(0.01)	(0.03)	0.28	0.25	(0.18)	0.29	(0.64)	1.27
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RMBLX	1.13	(0.15)	0.00	(0.14)	0.00	0.00	2.20	(3.09)	6.78
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BTO	1.08	(0.04)	0.00	(0.04)	0.00	0.00	2.30	(2.35)	6.87
PGFMX	0.40	(0.01)	0.00	0.07	0.00	0.00	0.85	(0.86)	2.21

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