Nuveen High Correlations

Mutual Funds . USA . 
Fund . Nuveen High Income
FJSYX Fund  USD 6.66  0.01  0.15%   
The current 90-days correlation between Nuveen High Income and Nuveen Small Cap is 0.41 (i.e., Very weak diversification). The correlation of Nuveen High 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 High Correlation With Market

Good diversification

The correlation between Nuveen High Income and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen High Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Nuveen High Income. 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 manufacturing.

Moving together with Nuveen Mutual Fund

  0.96EMGRX Nuveen Small CapPairCorr
  0.65FREAX Nuveen Real EstatePairCorr
  0.64FREGX Nuveen Real EstatePairCorr
  0.99NPSAX Nuveen Preferred SecPairCorr
  1.0NPSFX Nuveen Preferred SecPairCorr
  0.99NPSCX Nuveen Preferred SecPairCorr
  1.0NPSRX Nuveen Preferred SecPairCorr
  0.72FRKSX Nuveen Kansas MunicipalPairCorr
  0.97FRMPX Nuveen Small CapPairCorr
  0.62FRLCX Nuveen Real EstatePairCorr
  0.97FRSLX Nuveen Mid CapPairCorr
  0.98NQCCX Nuveen Nwq LargePairCorr
  0.98NQCAX Nuveen Nwq LargePairCorr
  0.96FACSX Nuveen Mid CapPairCorr
  0.98NQCRX Nuveen Nwq LargePairCorr
  0.97NQGCX Nuveen Nwq GlobalPairCorr
  0.97NQGAX Nuveen Nwq GlobalPairCorr
  0.98FAFJX Nuveen Limited TermPairCorr
  0.97NQGIX Nuveen Nwq GlobalPairCorr
  0.92FAMAX Nuveen Minnesota IntPairCorr
  0.92FAMTX Nuveen Minnesota IntPairCorr
  0.94FSCCX First American InvestmentPairCorr
  0.94FSCVX Nuveen Small CapPairCorr
  0.94FSCWX Nuveen Small CapPairCorr
  0.94FSCAX Nuveen Small CapPairCorr
  0.96FSEIX Nuveen Mid CapPairCorr
  0.97FAQIX Nuveen Dividend ValuePairCorr
  0.62FARCX Nuveen Real EstatePairCorr
  0.96FASEX Nuveen Mid CapPairCorr
  0.98FSHAX Nuveen Short TermPairCorr
  0.96FSFRX Nuveen Strategic IncomePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen High 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 High'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
EMGRX  0.85  0.29  0.07 (1.14) 0.80 
(0.97)
 2.16 
(1.72)
 6.46 
FREAX  0.59  0.08 (0.10)(0.51) 0.88 
(0.60)
 1.52 
(1.31)
 4.44 
FREGX  0.61 (0.01)(0.08) 0.15  0.88 
(0.63)
 1.66 
(1.26)
 4.46 
NPSAX  0.12  0.07 (0.81)(4.48) 0.00 
(0.18)
 0.33 
(0.13)
 0.79 
NPSFX  0.12  0.07 (0.71)(8.61) 0.00 
(0.18)
 0.39 
(0.13)
 0.83 
NPSCX  0.12  0.07 (0.73)(4.92) 0.00 
(0.18)
 0.39 
(0.13)
 0.83 
NPSRX  0.12  0.07 (0.84)(5.03) 0.00 
(0.17)
 0.39 
(0.13)
 0.83 
FRKSX  0.15  0.00 (0.68) 0.03  0.14 
(0.23)
 0.31 
(0.31)
 0.93 
FRMPX  0.87  0.34  0.13 (1.38) 0.71 
(1.04)
 2.27 
(1.36)
 5.61 
FRLCX  0.59  0.08 (0.11)(0.51) 0.88 
(0.61)
 1.52 
(1.31)
 4.39 

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