Nuveen Equity Correlations

Mutual Funds . USA . 
Fund . Nuveen Equity Longshort
NELAX Fund  USD 61.35  0.31  0.51%   
The current 90-days correlation between Nuveen Equity Longshort and Nuveen Equity Longshort is 0.03 (i.e., Significant diversification). The correlation of Nuveen Equity 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 Equity Correlation With Market

Good diversification

The correlation between Nuveen Equity Longshort and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Equity Longshort 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 Equity Longshort. 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 nation.

Moving together with Nuveen Mutual Fund

  0.98EMGRX Nuveen Small CapPairCorr
  0.69FREAX Nuveen Real EstatePairCorr
  0.65FREGX Nuveen Real EstatePairCorr
  0.97NPSAX Nuveen Preferred SecPairCorr
  0.97NPSFX Nuveen Preferred SecPairCorr
  0.97NPSCX Nuveen Preferred SecPairCorr
  0.97NPSRX Nuveen Preferred SecPairCorr
  0.7FRKSX Nuveen Kansas MunicipalPairCorr
  1.0FRMPX Nuveen Small CapPairCorr
  0.67FRLCX Nuveen Real EstatePairCorr
  0.99FRSLX Nuveen Mid CapPairCorr
  0.99NQCCX Nuveen Nwq LargePairCorr
  0.99NQCAX Nuveen Nwq LargePairCorr
  0.96FACSX Nuveen Mid CapPairCorr
  0.97NQCRX Nuveen Nwq LargePairCorr
  0.64FAFOX Nuveen Kansas MunicipalPairCorr
  0.98NQGCX Nuveen Nwq GlobalPairCorr
  0.98NQGAX Nuveen Nwq GlobalPairCorr
  0.95FAFJX Nuveen Limited TermPairCorr
  0.98NQGIX Nuveen Nwq GlobalPairCorr
  0.92FAMAX Nuveen Minnesota IntPairCorr
  0.9FAMTX Nuveen Minnesota IntPairCorr
  0.94FSCCX First American InvestmentPairCorr
  0.96FSCVX Nuveen Small CapPairCorr
  0.94FSCWX Nuveen Small CapPairCorr
  0.96FSCAX Nuveen Small CapPairCorr
  0.97FSEIX Nuveen Mid CapPairCorr
  0.97FAQIX Nuveen Dividend ValuePairCorr
  0.7FARCX Nuveen Real EstatePairCorr
  0.98FASEX Nuveen Mid CapPairCorr
  0.95FSHAX Nuveen Short TermPairCorr
  0.91FSFRX 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 Equity 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 Equity'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.

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