Nuveen New Correlations

NAN Fund

USD 11.17 0.03 0.27%

The current 90-days correlation between Nuveen New York and Blackrock Muniholdings Ny is 0.56 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nuveen New moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nuveen New York moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nuveen New Correlation With Market

Very weak diversification

The correlation between Nuveen New York and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen New York 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 New York. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Nuveen Fund

0.83	PEO	Adams Natural Resources	Pair Corr
0.9	IGD	Voya Global Equity	Pair Corr
0.9	ERH	Allspring Utilities And	Pair Corr
0.86	MXF	Mexico Closed	Pair Corr
0.85	DNP	Dnp Select Income	Pair Corr
0.89	PCF	Putnam High Income	Pair Corr
0.9	VVR	Invesco Senior Income	Pair Corr
0.92	TRROX	T Rowe Price	Pair Corr
0.89	PNRZX	Pgim Jennison Natural	Pair Corr
0.85	VEVFX	Vanguard Explorer Value	Pair Corr
0.9	LSIIX	Loomis Sayles Investment	Pair Corr
0.86	PCGRX	Pioneer Mid Cap	Pair Corr
0.68	FICMX	Federated Government	Pair Corr
0.89	STMUX	Invesco Short Term	Pair Corr
0.7	FBIOX	Biotechnology Portfolio	Pair Corr
0.9	AACRX	Strategic Allocation	Pair Corr
0.87	WEGRX	Allspring Emerging Growth	Pair Corr
0.9	ETIMX	Eventide Multi Asset	Pair Corr
0.89	OPTIX	Oppenheimer Capital	Pair Corr
0.87	GGNPX	Goldman Sachs High	Pair Corr
0.88	IORLX	Aim Taxexempt Funds	Pair Corr
0.88	PGBEX	Blue Chip Fund	Pair Corr
0.88	JGMCX	Janus Triton	Pair Corr
0.89	CHY	Calamos Convertible And	Pair Corr
0.91	CBLAX	Columbia Balanced	Pair Corr
0.88	ETJ	Eaton Vance Risk	Pair Corr
0.87	MINJX	Mfs International Value	Pair Corr
0.89	KAMCX	Kensington Managed Income	Pair Corr
0.89	ANVHX	American Century Non	Pair Corr
0.9	LGLFX	Lord Abbett Growth	Pair Corr
0.83	DCARX	Dfa California Municipal	Pair Corr
0.9	RYCVX	Dow 2x Strategy	Pair Corr
0.68	GLEAX	Goldman Sachs Mlp	Pair Corr
0.87	OAZMX	Oakmark Fund R6	Pair Corr
0.89	BEQAX	Equity Growth	Pair Corr
0.9	BUBSX	Baird Ultra Short	Pair Corr
0.88	ADNIX	Amer Beacon Ark Steady Growth	Pair Corr
0.87	FTZFX	Fuller Thaler Behavioral	Pair Corr

Related Correlations Analysis

	MHN	KTF	RFMZ	CXH	NNY	NRK	NXN	NAZ	MYN
MHN		0.82	0.62	0.76	0.73	0.82	0.6	0.73	0.83	MHN
KTF	0.82		0.46	0.65	0.69	0.83	0.33	0.56	0.86	KTF
RFMZ	0.62	0.46		0.47	0.72	0.29	0.67	0.59	0.24	RFMZ
CXH	0.76	0.65	0.47		0.54	0.8	0.61	0.56	0.67	CXH
NNY	0.73	0.69	0.72	0.54		0.44	0.51	0.57	0.51	NNY
NRK	0.82	0.83	0.29	0.8	0.44		0.35	0.57	0.89	NRK
NXN	0.6	0.33	0.67	0.61	0.51	0.35		0.46	0.32	NXN
NAZ	0.73	0.56	0.59	0.56	0.57	0.57	0.46		0.54	NAZ
MYN	0.83	0.86	0.24	0.67	0.51	0.89	0.32	0.54		MYN
	MHN	KTF	RFMZ	CXH	NNY	NRK	NXN	NAZ	MYN

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Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen New 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 New'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
MHN	0.50	(0.05)	(0.17)	(0.01)	0.71	(0.49)	1.03	(1.03)	4.35
KTF	0.34	(0.05)	0.00	(0.25)	0.00	0.00	0.69	(0.91)	2.56
RFMZ	0.39	0.05	(0.13)	0.96	0.43	(0.44)	0.99	(0.82)	3.00
CXH	0.32	(0.05)	0.00	(0.18)	0.00	0.00	0.53	(0.93)	1.86
NNY	0.32	0.01	(0.24)	0.27	0.37	(0.40)	0.63	(0.74)	2.34
NRK	0.39	(0.06)	0.00	(0.28)	0.00	0.00	1.02	(0.84)	2.28
NXN	0.37	0.00	(0.22)	0.15	0.42	(0.42)	0.62	(0.70)	2.79
NAZ	0.52	0.01	(0.15)	0.25	0.54	(0.66)	1.10	(1.04)	2.85
MYN	0.39	(0.09)	0.00	(0.21)	0.00	0.00	0.84	(0.95)	2.13

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Nuveen New Correlations

Nuveen New Correlation With Market

Very weak diversification

Moving together with Nuveen Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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