Nuveen Preferred Correlations

Mutual Funds . USA . 
Fund . Nuveen Preferred Securities
NPSAX Fund  USD 16.22  0.02  0.12%   
The current 90-days correlation between Nuveen Preferred Sec and T Rowe Price is 0.36 (i.e., Weak 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 Securities and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Preferred Securities 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 Preferred Securities. 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 nation.

Moving together with Nuveen Mutual Fund

  0.77TEMRX Tiaa Cref EmergingPairCorr
  0.65TEQLX Tiaa Cref EmergingPairCorr
  0.98NPSFX Nuveen Preferred SecPairCorr
  1.0NPSCX Nuveen Preferred SecPairCorr
  1.0NPSRX Nuveen Preferred SecPairCorr
  0.93FRKSX Nuveen Kansas MunicipalPairCorr
  0.91FAARX Nuveen All AmericanPairCorr
  0.71NQCAX Nuveen Nwq LargePairCorr
  0.92FAAWX Nuveen All AmericanPairCorr
  0.9FACCX Nuveen All AmericanPairCorr
  0.66NQCRX Nuveen Nwq LargePairCorr
  0.91FAFPX Nuveen Missouri MunicipalPairCorr
  0.9FAFOX Nuveen Kansas MunicipalPairCorr
  0.92FAFNX Nuveen Michigan MunicipalPairCorr
  0.62NQGCX Nuveen Nwq GlobalPairCorr
  0.89FAFMX Nuveen Ohio MunicipalPairCorr
  0.93FAFLX Nuveen Louisiana MunPairCorr
  0.91FAFKX Nuveen Orado MunicipalPairCorr
  0.65NQGAX Nuveen Nwq GlobalPairCorr
  0.65NQGIX Nuveen Nwq GlobalPairCorr
  0.93FAMAX Nuveen Minnesota IntPairCorr
  0.95FAMTX Nuveen Minnesota IntPairCorr
  0.64FAQIX Nuveen Dividend ValuePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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

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