Nuveen Small Correlations

FIMPX Fund

USD 38.65 0.38 0.97%

The current 90-days correlation between Nuveen Small Cap and Nuveen Small Cap is 0.91 (i.e., Almost no diversification). The correlation of Nuveen Small 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 Small Correlation With Market

Poor diversification

The correlation between Nuveen Small Cap and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Small 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 Small 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 metropolitan statistical area.

Moving together with Nuveen Mutual Fund

0.98	EMGRX	Nuveen Small Cap	Pair Corr
0.95	NPSRX	Nuveen Preferred Sec	Pair Corr
1.0	FRMPX	Nuveen Small Cap	Pair Corr
0.77	NQCAX	Nuveen Nwq Large	Pair Corr
0.94	FACSX	Nuveen Mid Cap	Pair Corr
0.84	FAMAX	Nuveen Minnesota Int	Pair Corr
0.82	FAMTX	Nuveen Minnesota Int	Pair Corr
0.9	FSCCX	First American Investment	Pair Corr
0.89	FSCVX	Nuveen Small Cap	Pair Corr
0.9	FSCWX	Nuveen Small Cap	Pair Corr
0.9	FSCAX	Nuveen Small Cap	Pair Corr
0.94	FSEIX	Nuveen Mid Cap	Pair Corr
0.96	FAQIX	Nuveen Dividend Value	Pair Corr
0.93	FSHAX	Nuveen Short Term	Pair Corr
0.94	NRIIX	Nuveen Real Asset	Pair Corr
0.67	NAIGX	Nuveen Nwq International Potential Growth	Pair Corr
0.95	NSBAX	Nuveen Santa Barbara	Pair Corr
0.75	NSBRX	Nuveen Santa Barbara	Pair Corr
0.9	NSCCX	Nuveen Nwq Small	Pair Corr
0.9	NSCRX	Nuveen Nwq Small	Pair Corr
0.96	NSMAX	Nuveen Nwq Smallmid	Pair Corr
0.96	NSMCX	Nuveen Nwq Smallmid	Pair Corr
0.96	NSMRX	Nuveen Nwq Smallmid	Pair Corr
0.73	NCIRX	Nuveen Core Impact	Pair Corr
0.76	NCOIX	Nuveen Symphony Credit	Pair Corr
0.86	NUGCX	Nuveen Santa Barbara	Pair Corr
0.87	NUGAX	Nuveen Santa Barbara	Pair Corr
0.76	FFEFX	Nuveen Dividend Value	Pair Corr
0.76	FFECX	Nuveen Dividend Value	Pair Corr
0.95	NELAX	Nuveen Equity Longshort	Pair Corr

Moving against Nuveen Mutual Fund

0.47	NHCCX	Nuveen High Yield	Pair Corr
0.42	NHMRX	Nuveen High Yield	Pair Corr
0.35	NHMAX	Nuveen High Yield	Pair Corr
0.34	NHMFX	Nuveen High Yield	Pair Corr

Related Correlations Analysis

	EMGRX	FREAX	FREGX	NPSAX	NPSFX	NPSCX	NPSRX	FRKSX	FRMPX	FAARX
EMGRX		0.08	0.11	0.92	0.93	0.92	0.92	0.59	0.98	-0.18	EMGRX
FREAX	0.08		1.0	-0.14	-0.1	-0.15	-0.15	-0.35	0.0	-0.34	FREAX
FREGX	0.11	1.0		-0.11	-0.07	-0.11	-0.11	-0.33	0.03	-0.34	FREGX
NPSAX	0.92	-0.14	-0.11		0.99	1.0	1.0	0.72	0.95	-0.07	NPSAX
NPSFX	0.93	-0.1	-0.07	0.99		0.99	0.99	0.73	0.96	-0.06	NPSFX
NPSCX	0.92	-0.15	-0.11	1.0	0.99		1.0	0.72	0.95	-0.06	NPSCX
NPSRX	0.92	-0.15	-0.11	1.0	0.99	1.0		0.72	0.95	-0.07	NPSRX
FRKSX	0.59	-0.35	-0.33	0.72	0.73	0.72	0.72		0.62	0.54	FRKSX
FRMPX	0.98	0.0	0.03	0.95	0.96	0.95	0.95	0.62		-0.14	FRMPX
FAARX	-0.18	-0.34	-0.34	-0.07	-0.06	-0.06	-0.07	0.54	-0.14		FAARX
	EMGRX	FREAX	FREGX	NPSAX	NPSFX	NPSCX	NPSRX	FRKSX	FRMPX	FAARX

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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

FREGX	+ 1.0	FREAX
NPSCX	+ 1.0	NPSAX
NPSRX	+ 1.0	NPSAX
NPSRX	+ 1.0	NPSCX
NPSFX	+ 0.99	NPSAX
NPSCX	+ 0.99	NPSFX

High negative correlations

FRKSX	- 0.35	FREAX
FAARX	- 0.34	FREGX
FAARX	- 0.34	FREAX
FRKSX	- 0.33	FREGX
FAARX	- 0.18	EMGRX
NPSRX	- 0.15	FREAX

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Small 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 Small'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
EMGRX	0.73	0.07	0.11	0.17	0.50	(0.86)	1.76	(1.34)	4.39
FREAX	0.61	(0.03)	(0.09)	0.06	0.81	(0.62)	1.53	(1.31)	3.78
FREGX	0.61	(0.03)	(0.08)	0.06	0.82	(0.63)	1.53	(1.31)	3.95
NPSAX	0.10	0.04	(0.60)	1.10	0.00	(0.15)	0.26	(0.13)	0.83
NPSFX	0.10	0.05	(0.58)	1.97	0.00	(0.15)	0.50	(0.13)	0.83
NPSCX	0.09	0.04	(0.59)	1.00	0.00	(0.14)	0.32	(0.13)	0.77
NPSRX	0.10	0.05	(0.58)	1.10	0.00	(0.15)	0.32	(0.13)	0.83
FRKSX	0.11	0.00	(0.65)	0.34	0.00	(0.20)	0.31	(0.21)	0.72
FRMPX	0.78	0.09	0.12	0.19	0.54	(0.95)	1.64	(1.20)	3.83
FAARX	0.11	(0.01)	(0.60)	(3.33)	0.11	(0.19)	0.31	(0.31)	0.83

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