Nuveen High Correlations

NHMRX Fund

USD 13.54 0.07 0.51%

The current 90-days correlation between Nuveen High Yield and Nuveen High Yield is 0.29 (i.e., Modest 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

Modest diversification

The correlation between Nuveen High Yield and DJI is 0.2 (i.e., Modest 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.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nuveen High Yield. 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 metropolitan statistical area.

Moving together with Nuveen Mutual Fund

0.7	FRKSX	Nuveen Kansas Municipal	Pair Corr
0.82	FAARX	Nuveen All American	Pair Corr
0.81	FAAWX	Nuveen All American	Pair Corr
0.86	FAFPX	Nuveen Missouri Municipal	Pair Corr
0.79	FAFOX	Nuveen Kansas Municipal	Pair Corr
0.89	FAFNX	Nuveen Michigan Municipal	Pair Corr
0.89	FAFMX	Nuveen Ohio Municipal	Pair Corr
0.79	FAFLX	Nuveen Louisiana Mun	Pair Corr
0.78	FAFKX	Nuveen Orado Municipal	Pair Corr

Related Correlations Analysis

	NHMAX	ORNCX	NHMRX	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF
NHMAX		0.78	0.87	0.29	0.28	0.28	0.31	0.0	-0.31	-0.55	NHMAX
ORNCX	0.78		0.85	0.2	0.23	0.22	0.22	0.0	-0.33	-0.55	ORNCX
NHMRX	0.87	0.85		0.14	0.15	0.13	0.16	0.0	-0.24	-0.55	NHMRX
MSTSX	0.29	0.2	0.14		0.98	0.98	1.0	0.0	-0.1	-0.14	MSTSX
LBHIX	0.28	0.23	0.15	0.98		0.97	0.98	0.0	-0.06	-0.09	LBHIX
VIASP	0.28	0.22	0.13	0.98	0.97		0.98	0.0	-0.15	-0.19	VIASP
RRTLX	0.31	0.22	0.16	1.0	0.98	0.98		0.0	-0.09	-0.13	RRTLX
OSHDF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	OSHDF
70082LAB3	-0.31	-0.33	-0.24	-0.1	-0.06	-0.15	-0.09	0.0		0.74	70082LAB3
SITKF	-0.55	-0.55	-0.55	-0.14	-0.09	-0.19	-0.13	0.0	0.74		SITKF
	NHMAX	ORNCX	NHMRX	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

RRTLX	+ 1.0	MSTSX
LBHIX	+ 0.98	MSTSX
VIASP	+ 0.98	MSTSX
RRTLX	+ 0.98	LBHIX
RRTLX	+ 0.98	VIASP
VIASP	+ 0.97	LBHIX

High negative correlations

SITKF	- 0.55	NHMRX
SITKF	- 0.55	ORNCX
SITKF	- 0.55	NHMAX
70082LAB3	- 0.33	ORNCX
70082LAB3	- 0.31	NHMAX
70082LAB3	- 0.24	NHMRX

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
NHMAX	0.27	0.00	(0.33)	0.10	0.36	(0.32)	0.65	(0.58)	2.40
ORNCX	0.22	(0.04)	0.00	(0.23)	0.00	0.00	0.47	(0.47)	1.72
NHMRX	0.26	(0.04)	0.00	(0.39)	0.00	0.00	0.58	(0.58)	1.81
MSTSX	0.50	0.21	0.09	(2.16)	0.31	(0.58)	1.45	(1.17)	3.51
LBHIX	0.18	0.05	(0.20)	0.44	0.00	(0.33)	0.49	(0.24)	1.22
VIASP	0.45	0.15	0.09	1.19	0.00	(0.58)	1.01	(0.76)	4.38
RRTLX	0.24	0.10	(0.09)	(2.41)	0.00	(0.31)	0.76	(0.39)	1.74
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
70082LAB3	1.56	0.02	0.00	0.11	0.00	0.00	2.55	(4.54)	20.47
SITKF	2.97	0.32	0.01	(0.20)	3.61	(4.66)	6.25	(6.98)	23.19

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC