Nuveen Dynamic Correlations

NDMO Stock

USD 10.81 0.14 1.31%

The current 90-days correlation between Nuveen Dynamic Municipal and Blackrock Muni Intermediate is 0.27 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nuveen Dynamic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nuveen Dynamic Municipal moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nuveen Dynamic Correlation With Market

Good diversification

The correlation between Nuveen Dynamic Municipal and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Dynamic Municipal 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 Dynamic Municipal. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Nuveen Stock

0.68	LU	Lufax Holding	Pair Corr
0.69	WU	Western Union Sell-off Trend	Pair Corr
0.68	PWUPU	PowerUp Acquisition Corp	Pair Corr

Moving against Nuveen Stock

0.66	LC	LendingClub Corp	Pair Corr
0.58	V	Visa Class A	Pair Corr
0.58	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.52	DIST	Distoken Acquisition	Pair Corr
0.52	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.49	BX	Blackstone Group Fiscal Year End 23rd of January 2025	Pair Corr
0.47	SF	Stifel Financial Fiscal Year End 22nd of January 2025	Pair Corr
0.41	DHIL	Diamond Hill Investment	Pair Corr
0.37	PX	P10 Inc	Pair Corr
0.35	MC	Moelis	Pair Corr
0.34	QD	Qudian Inc	Pair Corr
0.73	TETEU	Technology Telecommunicatio	Pair Corr
0.6	VINP	Vinci Partners Inves	Pair Corr
0.58	WT	WisdomTree	Pair Corr
0.57	VRTS	Virtus Investment	Pair Corr
0.55	ECPG	Encore Capital Group	Pair Corr
0.45	VCTR	Victory Capital Holdings	Pair Corr
0.41	VIRT	Virtu Financial Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	MUI	MQY	KTF	MYI	RMI	CXH	JPT	RMM	MHN	IHIT
MUI		0.27	0.55	0.15	0.5	0.41	0.2	0.41	0.41	-0.36	MUI
MQY	0.27		0.36	0.95	0.81	0.65	-0.66	0.84	0.93	-0.21	MQY
KTF	0.55	0.36		0.33	0.66	0.72	0.09	0.61	0.53	-0.26	KTF
MYI	0.15	0.95	0.33		0.73	0.66	-0.75	0.82	0.91	-0.1	MYI
RMI	0.5	0.81	0.66	0.73		0.64	-0.35	0.89	0.87	-0.53	RMI
CXH	0.41	0.65	0.72	0.66	0.64		-0.38	0.72	0.77	-0.14	CXH
JPT	0.2	-0.66	0.09	-0.75	-0.35	-0.38		-0.44	-0.64	0.13	JPT
RMM	0.41	0.84	0.61	0.82	0.89	0.72	-0.44		0.91	-0.34	RMM
MHN	0.41	0.93	0.53	0.91	0.87	0.77	-0.64	0.91		-0.35	MHN
IHIT	-0.36	-0.21	-0.26	-0.1	-0.53	-0.14	0.13	-0.34	-0.35		IHIT
	MUI	MQY	KTF	MYI	RMI	CXH	JPT	RMM	MHN	IHIT

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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

MYI	+ 0.95	MQY
MHN	+ 0.93	MQY
MHN	+ 0.91	MYI
MHN	+ 0.91	RMM
RMM	+ 0.89	RMI
MHN	+ 0.87	RMI

High negative correlations

JPT	- 0.75	MYI
JPT	- 0.66	MQY
MHN	- 0.64	JPT
IHIT	- 0.53	RMI
RMM	- 0.44	JPT
JPT	- 0.38	CXH

Risk-Adjusted Indicators

There is a big difference between Nuveen Stock performing well and Nuveen Dynamic Company 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 Dynamic'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
MUI	0.31	0.03	(0.13)	(2.32)	0.48	(0.34)	0.73	(0.65)	3.31
MQY	0.43	0.01	(0.16)	(0.75)	0.58	(0.42)	0.96	(1.07)	2.74
KTF	0.44	0.06	(0.09)	(1.75)	0.48	(0.53)	1.12	(0.61)	3.40
MYI	0.40	0.01	(0.17)	(1.06)	0.51	(0.44)	1.12	(0.94)	2.59
RMI	0.37	0.03	(0.16)	7.07	0.45	(0.40)	0.83	(0.86)	2.20
CXH	0.34	0.05	(0.17)	(0.19)	0.40	(0.38)	0.86	(0.74)	2.10
JPT	0.62	0.00	(0.10)	0.13	1.04	(0.57)	1.33	(1.82)	4.64
RMM	0.55	0.04	(0.10)	2.67	0.65	(0.56)	1.07	(1.02)	2.87
MHN	0.38	0.03	(0.11)	1.99	0.63	(0.35)	0.95	(1.03)	2.69
IHIT	0.46	(0.05)	0.00	(0.73)	0.00	0.00	1.07	(1.18)	2.70

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