Nuveen SP Correlations

BXMX Etf

USD 13.94 0.01 0.07%

The current 90-days correlation between Nuveen SP 500 and Nuveen Dow 30Sm is 0.85 (i.e., Very poor 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 poor diversification

The correlation between Nuveen SP 500 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 SP 500 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nuveen Etf

Check out Trending Equities 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 population.

Moving together with Nuveen Etf

0.9	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.89	XOP	SPDR SP Oil	Pair Corr
0.94	AIVI	WisdomTree International	Pair Corr
0.97	IYM	iShares Basic Materials	Pair Corr
0.97	WTRE	WisdomTree New Economy	Pair Corr
0.73	FIG	Simplify Asset Management	Pair Corr
0.96	IYC	iShares Consumer Dis	Pair Corr
0.99	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.96	VPL	Vanguard FTSE Pacific	Pair Corr
0.98	VBK	Vanguard Small Cap	Pair Corr
0.67	MLPB	UBS AG London	Pair Corr
0.93	HYDR	Global X Hydrogen	Pair Corr
0.79	BBJP	JPMorgan BetaBuilders	Pair Corr
0.99	DFSU	Dimensional Sustainability	Pair Corr
0.9	KBA	KraneShares Bosera MSCI	Pair Corr
0.98	EEM	iShares MSCI Emerging Aggressive Push	Pair Corr
0.97	DFIC	Dimensional International	Pair Corr
0.95	UPV	ProShares Ultra FTSE	Pair Corr
0.99	AESR	Anfield Equity Sector Low Volatility	Pair Corr
0.98	MEM	MAYBANK EMERGING ETF	Pair Corr
0.95	IEFA	iShares Core MSCI	Pair Corr
0.95	IEDI	iShares Evolved Disc	Pair Corr
0.96	SOCL	Global X Social	Pair Corr
0.98	FTSL	First Trust Senior	Pair Corr
0.92	IHDG	WisdomTree International	Pair Corr
0.9	SPIB	SPDR Barclays Interm	Pair Corr
0.99	TMFC	Motley Fool 100 Low Volatility	Pair Corr
0.98	AVEE	American Century ETF	Pair Corr
0.92	FLTB	Fidelity Limited Term	Pair Corr
0.97	SPRX	Spear Alpha ETF	Pair Corr
0.96	FORH	Formidable ETF	Pair Corr
0.89	BITO	ProShares Bitcoin	Pair Corr
0.98	GTEK	Goldman Sachs Future	Pair Corr
0.9	BPI	Grayscale Funds Trust	Pair Corr
0.99	PSEP	Innovator SP 500	Pair Corr
0.91	OBIL	US Treasury 12	Pair Corr
0.89	INDSX	Financial Investors Trust	Pair Corr
0.99	TLTE	FlexShares Morningstar	Pair Corr
0.97	CVY	Invesco Zacks Multi	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.57	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.59	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.54	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.73	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.16	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.63	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.08	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.68	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.56	MRK
XOM	0.57	0.59	0.54	0.73	0.16	0.63	-0.08	0.68	0.56		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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.08	CRM

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	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.08	0.14	0.00	(9.00)	1.19	(1.12)	2.40	(2.51)	5.84

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