Nuveen High Correlations

FJSYX Fund

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The current 90-days correlation between Nuveen High Income and T Rowe Price is -0.19 (i.e., Good 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

Good diversification

The correlation between Nuveen High Income and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen High Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Nuveen High Income. 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 manufacturing.

Moving together with Nuveen Mutual Fund

0.81	EMGRX	Nuveen Small Cap	Pair Corr
0.75	NPSAX	Nuveen Preferred Sec	Pair Corr
0.75	NPSFX	Nuveen Preferred Sec	Pair Corr
0.64	NPSCX	Nuveen Preferred Sec	Pair Corr
0.71	NPSRX	Nuveen Preferred Sec	Pair Corr
0.81	FRMPX	Nuveen Small Cap	Pair Corr
0.82	FRSLX	Nuveen Mid Cap	Pair Corr
0.84	NQCCX	Nuveen Nwq Large	Pair Corr
0.84	NQCAX	Nuveen Nwq Large	Pair Corr
0.81	FACSX	Nuveen Mid Cap	Pair Corr
0.84	NQCRX	Nuveen Nwq Large	Pair Corr
0.61	NQGCX	Nuveen Nwq Global	Pair Corr
0.76	FSCCX	First American Investment	Pair Corr
0.76	FSCVX	Nuveen Small Cap	Pair Corr
0.76	FSCWX	Nuveen Small Cap	Pair Corr
0.76	FSCAX	Nuveen Small Cap	Pair Corr
0.81	FSEIX	Nuveen Mid Cap	Pair Corr
0.85	FAQIX	Nuveen Dividend Value	Pair Corr
0.81	FASEX	Nuveen Mid Cap	Pair Corr
0.85	NQVAX	Nuveen Nwq Multi	Pair Corr

Moving against Nuveen Mutual Fund

0.42	FAFOX	Nuveen Kansas Municipal	Pair Corr
0.64	FAFJX	Nuveen Limited Term	Pair Corr
0.59	FAFMX	Nuveen Ohio Municipal	Pair Corr
0.58	FALTX	Nuveen Short Term	Pair Corr
0.48	FAFLX	Nuveen Louisiana Mun	Pair Corr

Related Correlations Analysis

	TRRZX	PARJX	JABKX	HRNRX	TRRAX	PARKX	RRTLX
TRRZX		0.97	0.71	0.85	0.94	0.91	0.83	TRRZX
PARJX	0.97		0.82	0.78	0.99	0.89	0.89	PARJX
JABKX	0.71	0.82		0.51	0.85	0.84	0.97	JABKX
HRNRX	0.85	0.78	0.51		0.73	0.83	0.67	HRNRX
TRRAX	0.94	0.99	0.85	0.73		0.86	0.9	TRRAX
PARKX	0.91	0.89	0.84	0.83	0.86		0.94	PARKX
RRTLX	0.83	0.89	0.97	0.67	0.9	0.94		RRTLX
	TRRZX	PARJX	JABKX	HRNRX	TRRAX	PARKX	RRTLX

Click cells to compare fundamentals

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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
TRRZX	0.49	(0.03)	(0.08)	0.08	0.61	(0.53)	0.96	(1.07)	3.08
PARJX	0.30	(0.01)	(0.17)	0.08	0.37	(0.30)	0.64	(0.64)	1.81
JABKX	0.26	0.02	(0.25)	0.78	0.27	(0.27)	0.55	(0.55)	1.35
HRNRX	0.89	0.33	0.23	1.26	0.67	(1.06)	2.44	(1.56)	6.54
TRRAX	0.25	(0.01)	(0.22)	0.08	0.29	(0.25)	0.50	(0.50)	1.58
PARKX	0.41	0.04	(0.12)	5.91	0.49	(0.44)	0.83	(0.87)	2.42
RRTLX	0.23	0.02	(0.26)	0.65	0.23	(0.25)	0.48	(0.56)	1.36

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