Nuveen Preferred Correlations

Mutual Funds . USA . 
Fund . Nuveen Preferred Securities
NPSAX Fund  USD 15.77  0.02  0.13%   
The current 90-days correlation between Nuveen Preferred Sec and Rationalpier 88 Convertible is 0.19 (i.e., Average diversification). The correlation of Nuveen Preferred 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 Preferred Correlation With Market

Modest diversification

The correlation between Nuveen Preferred Securities and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Preferred Securities 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 Preferred Securities. 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

  0.95EMGRX Nuveen Small CapPairCorr
  0.7NPSFX Nuveen Preferred SecPairCorr
  0.9NPSCX Nuveen Preferred SecPairCorr
  0.9NPSRX Nuveen Preferred SecPairCorr
  0.85FRMPX Nuveen Small CapPairCorr
  0.67FRSLX Nuveen Mid CapPairCorr
  0.69NQCCX Nuveen Nwq LargePairCorr
  0.86NQCAX Nuveen Nwq LargePairCorr
  0.81FACSX Nuveen Mid CapPairCorr
  0.7NQCRX Nuveen Nwq LargePairCorr
  0.63NQGCX Nuveen Nwq GlobalPairCorr
  0.63NQGAX Nuveen Nwq GlobalPairCorr
  0.68FAFJX Nuveen Limited TermPairCorr
  0.84NQGIX Nuveen Nwq GlobalPairCorr
  0.68FAMAX Nuveen Minnesota IntPairCorr
  0.76FAMTX Nuveen Minnesota IntPairCorr
  0.81FSCCX First American InvestmentPairCorr
  0.64FSCVX Nuveen Small CapPairCorr
  0.81FSCWX Nuveen Small CapPairCorr
  0.81FSCAX Nuveen Small CapPairCorr
  0.81FSEIX Nuveen Mid CapPairCorr
  0.84FAQIX Nuveen Dividend ValuePairCorr
  0.63FASEX Nuveen Mid CapPairCorr
  0.75FSHAX Nuveen Short TermPairCorr
  0.86FSFRX Nuveen Strategic IncomePairCorr

Related Correlations Analysis

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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   
NCIDX
+ 1.0
XNCVX
ARBOX
+ 0.99
XNCVX
NCIDX
+ 0.99
ARBOX
GCV
+ 0.97
XNCVX
NCIDX
+ 0.97
GCV
GCV
+ 0.95
ARBOX
  
High negative correlations   
CCD
- 0.34
GCV
CCD
- 0.19
XNCVX
NCIDX
- 0.17
CCD
CCD
- 0.16
ARBOX

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Preferred 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 Preferred'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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