Nuveen Preferred Correlations

Summary

JPSDelisted Fund

USD 6.41 0.00 0.00%

The current 90-days correlation between Nuveen Preferred Sec and Doubleline Income Solutions is 0.04 (i.e., Significant 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

Good diversification

The correlation between Nuveen Preferred Securites and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Preferred Securites and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Nuveen Fund

0.7	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.63	BAC	Bank of America Aggressive Push	Pair Corr

Moving against Nuveen Fund

0.53	KO	Coca Cola Aggressive Push	Pair Corr
0.51	NHS	Neuberger Berman High	Pair Corr
0.45	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.44	MSFT	Microsoft Aggressive Push	Pair Corr
0.43	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.38	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.31	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Related Correlations Analysis

	IGD	HPS	ETJ	FTF	DSL	AWF	EAD	DSU	ETW
IGD		0.0	0.41	0.43	0.38	0.2	0.4	0.35	0.36	IGD
HPS	0.0		-0.07	0.57	0.51	0.79	0.66	0.25	0.05	HPS
ETJ	0.41	-0.07		0.27	0.04	-0.12	0.12	0.71	0.9	ETJ
FTF	0.43	0.57	0.27		0.63	0.65	0.75	0.45	0.22	FTF
DSL	0.38	0.51	0.04	0.63		0.76	0.8	0.44	0.09	DSL
AWF	0.2	0.79	-0.12	0.65	0.76		0.82	0.27	0.01	AWF
EAD	0.4	0.66	0.12	0.75	0.8	0.82		0.49	0.16	EAD
DSU	0.35	0.25	0.71	0.45	0.44	0.27	0.49		0.69	DSU
ETW	0.36	0.05	0.9	0.22	0.09	0.01	0.16	0.69		ETW
	IGD	HPS	ETJ	FTF	DSL	AWF	EAD	DSU	ETW

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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

ETW	+ 0.9	ETJ
EAD	+ 0.82	AWF
EAD	+ 0.8	DSL
AWF	+ 0.79	HPS
AWF	+ 0.76	DSL
EAD	+ 0.75	FTF

High negative correlations

AWF	- 0.12	ETJ
ETJ	- 0.07	HPS
HPS	- 0.0	IGD

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IGD	0.65	(0.02)	(0.07)	0.09	0.89	(0.65)	1.28	(1.43)	4.35
HPS	0.60	(0.04)	0.00	(0.13)	0.00	0.00	1.17	(1.48)	3.29
ETJ	0.47	0.05	(0.03)	0.25	0.36	(0.53)	1.10	(0.87)	3.26
FTF	0.33	0.00	(0.26)	0.04	0.39	(0.39)	0.62	(0.62)	1.82
DSL	0.46	0.00	(0.20)	0.13	0.46	(0.58)	1.11	(0.87)	2.90
AWF	0.33	(0.02)	(0.28)	0.02	0.38	(0.39)	0.65	(0.74)	1.91
EAD	0.40	0.01	(0.19)	0.19	0.40	(0.49)	1.00	(0.86)	2.47
DSU	0.42	0.02	(0.16)	0.37	0.46	(0.49)	0.93	(0.85)	2.42
ETW	0.56	0.00	(0.08)	0.12	0.68	(0.58)	1.19	(1.18)	3.31

Nuveen Preferred Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Nuveen Preferred fund to make a market-neutral strategy. Peer analysis of Nuveen Preferred could also be used in its relative valuation, which is a method of valuing Nuveen Preferred by comparing valuation metrics with similar companies.

Voya Global Equity John Hancock Preferred Eaton Vance Risk Franklin Templeton Limited Doubleline Income Solutions Alliancebernstein Global High Allspring Income Opportunities Blackrock Debt Strategies Eaton Vance Tax Doubleline Yield Opportunities Highland Floating Rate Doubleline Opportunistic Credit Western Asset Emerging American Airlines Group Alcoa Corp

Risk & Return

Correlation

Still Interested in Nuveen Preferred Securites?

Investing in delisted delisted funds can be risky, as the fund is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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