Nuveen SP Correlations

SPXX Etf

USD 18.38 0.17 0.93%

The current 90-days correlation between Nuveen SP 500 and Nuveen Real Asset is 0.5 (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

Very weak diversification

The correlation between Nuveen SP 500 and DJI is 0.43 (i.e., Very weak 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

0.84	NYC	New York City	Pair Corr
0.67	IDRV	iShares Self Driving	Pair Corr
0.76	SPDW	SPDR SP World	Pair Corr
0.94	SDCP	Virtus ETF Trust	Pair Corr
0.89	IAUM	iShares Gold Trust	Pair Corr
0.87	BCD	abrdn Bloomberg All	Pair Corr
0.84	UAE	iShares MSCI UAE	Pair Corr
0.66	DVYE	iShares Emerging Markets	Pair Corr
0.9	KLXY	KraneShares Trust	Pair Corr
0.78	IDHQ	Invesco SP International	Pair Corr
0.94	BUYW	Main Buywrite ETF	Pair Corr
0.92	ZSEP	Innovator Equity Defined	Pair Corr
0.7	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.68	ARKG	ARK Genomic Revolution	Pair Corr
0.94	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.67	IBIG	iShares Trust	Pair Corr
0.65	SIVR	abrdn Physical Silver	Pair Corr
0.84	QYLD	Global X NASDAQ	Pair Corr
0.89	GLD	SPDR Gold Shares	Pair Corr
0.79	EMTL	SPDR DoubleLine Emerging	Pair Corr
0.91	SCHO	Schwab Short Term	Pair Corr
0.61	LDRI	iShares Trust	Pair Corr
0.9	TFLO	iShares Treasury Floating	Pair Corr
0.66	SKOR	FlexShares Credit	Pair Corr
0.87	GSEU	Goldman Sachs ActiveBeta	Pair Corr
0.82	JDVI	John Hancock Exchange	Pair Corr
0.75	IDV	iShares International	Pair Corr
0.64	BCIL	Exchange Listed Funds	Pair Corr
0.61	PPLT	abrdn Physical Platinum	Pair Corr
0.82	IOCT	Innovator ETFs Trust	Pair Corr
0.84	DDEC	First Trust Exchange	Pair Corr

Moving against Nuveen Etf

0.49

EMM

Global X Funds

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.44	0.59	-0.64	0.75	0.3	-0.21	0.85	-0.83	-0.32	META
MSFT	-0.44		-0.65	0.39	-0.6	0.27	0.76	-0.51	0.62	0.01	MSFT
UBER	0.59	-0.65		-0.2	0.75	-0.09	-0.53	0.74	-0.76	0.33	UBER
F	-0.64	0.39	-0.2		-0.38	0.04	0.44	-0.39	0.64	0.74	F
T	0.75	-0.6	0.75	-0.38		-0.17	-0.42	0.69	-0.78	0.04	T
A	0.3	0.27	-0.09	0.04	-0.17		0.3	0.44	0.04	-0.11	A
CRM	-0.21	0.76	-0.53	0.44	-0.42	0.3		-0.31	0.47	0.1	CRM
JPM	0.85	-0.51	0.74	-0.39	0.69	0.44	-0.31		-0.79	-0.04	JPM
MRK	-0.83	0.62	-0.76	0.64	-0.78	0.04	0.47	-0.79		0.17	MRK
XOM	-0.32	0.01	0.33	0.74	0.04	-0.11	0.1	-0.04	0.17		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.85	META
CRM	+ 0.76	MSFT
T	+ 0.75	META
T	+ 0.75	UBER
JPM	+ 0.74	UBER
XOM	+ 0.74	F

High negative correlations

MRK	- 0.83	META
MRK	- 0.79	JPM
MRK	- 0.78	T
MRK	- 0.76	UBER
UBER	- 0.65	MSFT
F	- 0.64	META

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.36	0.28	0.17	0.57	1.44	(1.42)	3.22	(2.29)	7.11
MSFT	1.03	(0.05)	0.00	(0.16)	0.00	0.00	2.20	(1.90)	10.31
UBER	1.95	0.16	0.06	3.78	2.78	(1.95)	4.72	(3.13)	12.29
F	1.35	(0.11)	0.00	(0.13)	0.00	0.00	2.55	(2.89)	10.97
T	0.94	0.30	0.27	0.50	0.88	(1.12)	1.90	(1.75)	7.94
A	1.07	(0.03)	0.00	(0.07)	0.00	0.00	2.81	(2.16)	9.03
CRM	1.45	(0.15)	0.00	(0.22)	0.00	0.00	2.21	(3.81)	15.92
JPM	0.89	0.14	0.11	0.15	1.16	(0.97)	1.97	(1.51)	6.85
MRK	1.26	(0.10)	0.00	(2.54)	0.00	0.00	2.15	(2.24)	11.57
XOM	0.91	(0.12)	0.00	(0.43)	0.00	0.00	1.76	(2.14)	5.69

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