Nuveen SP Correlations

SPXX Etf  USD 16.97  0.13  0.77%   
The current 90-days correlation between Nuveen SP 500 and Nuveen Real Asset is 0.4 (i.e., Very weak diversification). The correlation of Nuveen SP 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 SP Correlation With Market

Good diversification

The correlation between Nuveen SP 500 and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen SP 500 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Nuveen SP 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Nuveen Etf

  0.64GE GE AerospacePairCorr
  0.67BA BoeingPairCorr

Moving against Nuveen Etf

  0.52TUR iShares MSCI TurkeyPairCorr

Related Correlations Analysis

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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   
JPMMETA
CRMMSFT
TUBER
CRMA
AMSFT
UBERMETA
  
High negative correlations   
MRKUBER
TMSFT
MRKMETA
CRMT
MRKT
MRKJPM

Nuveen SP Competition Risk-Adjusted Indicators

There is a big difference between Nuveen Etf performing well and Nuveen SP 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 SP'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.59 (0.03) 0.00 (0.11) 0.00 
 2.57 
 8.90 
MSFT  1.11 (0.16) 0.00 (0.31) 0.00 
 2.58 
 10.31 
UBER  1.87  0.33  0.15  0.56  2.19 
 4.72 
 12.75 
F  1.44  0.10  0.04  0.02  2.20 
 2.71 
 10.14 
T  1.05  0.27  0.17  0.41  1.61 
 1.90 
 11.66 
A  1.14 (0.14) 0.00 (0.23) 0.00 
 2.92 
 9.03 
CRM  1.40 (0.27) 0.00 (0.32) 0.00 
 2.72 
 8.88 
JPM  1.11  0.06  0.00 (0.02) 0.00 
 1.99 
 6.85 
MRK  1.16 (0.07) 0.00  0.80  0.00 
 2.07 
 11.58 
XOM  1.06  0.09  0.09  0.13  1.38 
 2.55 
 5.89