Nuveen California Correlations

NXC Stock

USD 13.60 0.13 0.95%

The current 90-days correlation between Nuveen California Select and CBH is -0.08 (i.e., Good diversification). The correlation of Nuveen California 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 California Correlation With Market

Good diversification

The correlation between Nuveen California Select 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 California Select 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 California Select. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Nuveen Stock

0.65

BRKHU

BurTech Acquisition Corp

Pair Corr

Moving against Nuveen Stock

0.68	V	Visa Class A	Pair Corr
0.63	DIST	Distoken Acquisition	Pair Corr
0.6	TETEU	Technology Telecommunicatio	Pair Corr
0.47	MA	Mastercard	Pair Corr
0.45	DYCQ	DT Cloud Acquisition	Pair Corr
0.75	EMCG	Embrace Change Acqui	Pair Corr
0.68	WTMA	Welsbach Technology	Pair Corr
0.63	FDUS	Fidus Investment Corp	Pair Corr
0.56	ROCLW	Roth CH Acquisition	Pair Corr
0.56	ESHA	ESH Acquisition Corp	Pair Corr
0.53	WAVSU	Western Acquisition	Pair Corr
0.42	ANSCW	Agriculture Natural	Pair Corr
0.36	EVGR	Evergreen Corp	Pair Corr
0.34	WAVS	Western Acquisition	Pair Corr
0.34	DISTR	Distoken Acquisition	Pair Corr
0.67	SYF	Synchrony Financial Fiscal Year End 28th of January 2025	Pair Corr
0.66	FRHC	Freedom Holding Corp	Pair Corr

Related Correlations Analysis

	CBH	EOT	IHTA	MHN	CXH	FMN	IHIT	JHAA
CBH		-0.43	0.93	-0.22	0.05	-0.76	-0.48	0.92	CBH
EOT	-0.43		-0.33	0.7	0.42	0.72	-0.22	-0.45	EOT
IHTA	0.93	-0.33		-0.23	-0.03	-0.76	-0.53	0.86	IHTA
MHN	-0.22	0.7	-0.23		0.76	0.74	-0.28	-0.3	MHN
CXH	0.05	0.42	-0.03	0.76		0.42	-0.06	-0.03	CXH
FMN	-0.76	0.72	-0.76	0.74	0.42		0.13	-0.76	FMN
IHIT	-0.48	-0.22	-0.53	-0.28	-0.06	0.13		-0.29	IHIT
JHAA	0.92	-0.45	0.86	-0.3	-0.03	-0.76	-0.29		JHAA
	CBH	EOT	IHTA	MHN	CXH	FMN	IHIT	JHAA

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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

IHTA	+ 0.93	CBH
JHAA	+ 0.92	CBH
JHAA	+ 0.86	IHTA
CXH	+ 0.76	MHN
FMN	+ 0.74	MHN
FMN	+ 0.72	EOT

High negative correlations

JHAA	- 0.76	FMN
FMN	- 0.76	IHTA
FMN	- 0.76	CBH
IHIT	- 0.53	IHTA
IHIT	- 0.48	CBH
JHAA	- 0.45	EOT

Risk-Adjusted Indicators

There is a big difference between Nuveen Stock performing well and Nuveen California Company 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 California'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
CBH	0.13	0.04	(0.44)	(0.85)	0.00	(0.18)	0.22	(0.22)	0.78
EOT	0.38	0.03	(0.19)	(6.02)	0.39	(0.44)	0.86	(0.87)	2.08
IHTA	0.24	0.05	(0.15)	2.05	0.25	(0.31)	0.68	(0.27)	2.03
MHN	0.38	0.05	(0.10)	2.67	0.62	(0.37)	0.95	(1.03)	2.69
CXH	0.34	0.05	(0.17)	(0.24)	0.40	(0.38)	0.86	(0.74)	2.10
FMN	0.51	(0.03)	0.00	0.33	0.00	0.00	1.07	(1.49)	5.10
IHIT	0.46	(0.03)	0.00	0.40	0.00	0.00	1.07	(1.18)	2.70
JHAA	0.15	0.02	(0.50)	(2.59)	0.00	(0.20)	0.33	(0.22)	0.96

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