Nuveen Mid Correlations

FSEIX Fund

USD 62.19 0.13 0.21%

The current 90-days correlation between Nuveen Mid Cap and Calamos Dynamic Convertible is 0.31 (i.e., Weak diversification). The correlation of Nuveen Mid 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 Mid Correlation With Market

Almost no diversification

The correlation between Nuveen Mid Cap and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Mid Cap 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 Mid Cap. 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 gross domestic product.

Moving together with Nuveen Mutual Fund

0.98	EMGRX	Nuveen Small Cap	Pair Corr
0.96	FRMPX	Nuveen Small Cap	Pair Corr
0.97	FRSLX	Nuveen Mid Cap	Pair Corr
0.97	NQCCX	Nuveen Nwq Large	Pair Corr
0.96	NQCAX	Nuveen Nwq Large	Pair Corr
1.0	FACSX	Nuveen Mid Cap	Pair Corr
0.96	NQCRX	Nuveen Nwq Large	Pair Corr
0.63	NQGAX	Nuveen Nwq Global	Pair Corr
0.64	NQGIX	Nuveen Nwq Global	Pair Corr
0.95	FSCCX	First American Investment	Pair Corr
0.95	FSCVX	Nuveen Small Cap	Pair Corr
0.96	FSCWX	Nuveen Small Cap	Pair Corr
0.95	FSCAX	Nuveen Small Cap	Pair Corr
0.98	FAQIX	Nuveen Dividend Value	Pair Corr
1.0	FASEX	Nuveen Mid Cap	Pair Corr

Moving against Nuveen Mutual Fund

0.64	FAFJX	Nuveen Limited Term	Pair Corr
0.61	FAFMX	Nuveen Ohio Municipal	Pair Corr
0.55	FAFLX	Nuveen Louisiana Mun	Pair Corr
0.52	FAFOX	Nuveen Kansas Municipal	Pair Corr
0.48	FRKSX	Nuveen Kansas Municipal	Pair Corr
0.37	FACCX	Nuveen All American	Pair Corr
0.67	FALTX	Nuveen Short Term	Pair Corr
0.51	FTLRX	Nuveen Louisiana Mun	Pair Corr
0.38	FSFRX	Nuveen Strategic Income	Pair Corr

Related Correlations Analysis

	CCD	TTRBX	MBSAX	TPYYX	IPBAX	DSDYX	TFBIX
CCD		0.11	0.31	0.57	0.74	0.0	0.27	CCD
TTRBX	0.11		0.76	0.37	-0.1	0.93	0.7	TTRBX
MBSAX	0.31	0.76		0.56	0.4	0.78	0.75	MBSAX
TPYYX	0.57	0.37	0.56		0.55	0.34	0.42	TPYYX
IPBAX	0.74	-0.1	0.4	0.55		-0.07	0.2	IPBAX
DSDYX	0.0	0.93	0.78	0.34	-0.07		0.7	DSDYX
TFBIX	0.27	0.7	0.75	0.42	0.2	0.7		TFBIX
	CCD	TTRBX	MBSAX	TPYYX	IPBAX	DSDYX	TFBIX

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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

DSDYX	+ 0.93	TTRBX
DSDYX	+ 0.78	MBSAX
MBSAX	+ 0.76	TTRBX
TFBIX	+ 0.75	MBSAX
IPBAX	+ 0.74	CCD
TFBIX	+ 0.7	TTRBX

High negative correlations

IPBAX	- 0.1	TTRBX
DSDYX	- 0.07	IPBAX
DSDYX	- 0.0	CCD

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Mid 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 Mid'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
CCD	0.75	(0.01)	(0.08)	0.08	0.90	(0.82)	1.88	(1.68)	4.88
TTRBX	0.13	0.00	(0.59)	0.28	0.16	(0.17)	0.30	(0.30)	0.70
MBSAX	0.21	(0.01)	(0.36)	0.03	0.24	(0.22)	0.37	(0.44)	1.25
TPYYX	0.70	(0.10)	0.00	(0.02)	0.00	0.00	1.40	(1.71)	5.39
IPBAX	0.33	(0.02)	(0.18)	0.07	0.33	(0.39)	0.59	(0.58)	1.94
DSDYX	0.16	0.00	(0.61)	0.39	0.17	(0.18)	0.34	(0.24)	0.92
TFBIX	0.16	0.02	(0.26)	(0.11)	0.19	(0.23)	0.40	(0.39)	1.58

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