Nuveen High Correlations
| NHMFX Fund | USD 14.02 0.02 0.14% |
The current 90-days correlation between Nuveen High Yield and Nuveen High Yield is 1.0 (i.e., No risk reduction). 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 Yield and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen High Yield and DJI in the same portfolio, assuming nothing else is changed.
Nuveen |
Moving together with Nuveen Mutual Fund
| 0.79 | FAARX | Nuveen All American | PairCorr |
| 0.79 | NSIOX | Nuveen Strategic Mun | PairCorr |
| 1.0 | FCOTX | Nuveen Orado Municipal | PairCorr |
| 0.84 | NHMRX | Nuveen High Yield | PairCorr |
| 0.97 | FLAAX | Nuveen All American | PairCorr |
| 0.99 | NMTRX | Municipal Total Return | PairCorr |
| 0.83 | FPCCX | Nuveen Pennsylvania | PairCorr |
| 1.0 | NHMAX | Nuveen High Yield | PairCorr |
| 1.0 | NHCCX | Nuveen High Yield | PairCorr |
| 0.97 | ABHFX | American High Income | PairCorr |
| 0.98 | AHICX | American High Income | PairCorr |
| 0.97 | AMHIX | American High Income | PairCorr |
| 0.99 | GHYCX | Goldman Sachs High | PairCorr |
| 1.0 | GHYAX | Goldman Sachs High | PairCorr |
| 0.8 | ACTDX | Invesco High Yield | PairCorr |
Moving against Nuveen Mutual Fund
Related Correlations Analysis
| 0.84 | 1.0 | 0.83 | -0.19 | NHCCX | ||
| 0.84 | 0.84 | 0.99 | -0.06 | NHMRX | ||
| 1.0 | 0.84 | 0.83 | -0.15 | NHMAX | ||
| 0.83 | 0.99 | 0.83 | 0.0 | SMMOX | ||
| -0.19 | -0.06 | -0.15 | 0.0 | NFRFX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
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 Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NHCCX | 0.50 | (0.05) | 0.00 | 0.82 | 0.00 | 0.83 | 5.42 | |||
| NHMRX | 0.50 | (0.05) | 0.00 | 0.38 | 0.00 | 0.83 | 5.50 | |||
| NHMAX | 0.50 | (0.05) | 0.00 | 0.80 | 0.00 | 0.77 | 5.49 | |||
| SMMOX | 0.34 | (0.03) | 0.00 | 0.34 | 0.00 | 0.55 | 3.62 | |||
| NFRFX | 0.13 | 0.02 | (0.07) | 0.24 | 0.10 | 0.51 | 1.30 |