Nuveen Santa Correlations

NUGAX Fund

USD 36.95 0.13 0.35%

The current 90-days correlation between Nuveen Santa Barbara and Commonwealth Real Estate is -0.03 (i.e., Good diversification). The correlation of Nuveen Santa 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 Santa Correlation With Market

Significant diversification

The correlation between Nuveen Santa Barbara and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Santa Barbara 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 Santa Barbara. 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

0.86	EMGRX	Nuveen Small Cap	Pair Corr
0.78	NPSAX	Nuveen Preferred Sec	Pair Corr
0.79	NPSFX	Nuveen Preferred Sec	Pair Corr
0.8	NPSCX	Nuveen Preferred Sec	Pair Corr
0.77	NPSRX	Nuveen Preferred Sec	Pair Corr
0.81	FRMPX	Nuveen Small Cap	Pair Corr
0.87	FRSLX	Nuveen Mid Cap	Pair Corr
0.92	NQCCX	Nuveen Nwq Large	Pair Corr
0.89	NQCAX	Nuveen Nwq Large	Pair Corr
0.89	FACSX	Nuveen Mid Cap	Pair Corr
0.89	NQCRX	Nuveen Nwq Large	Pair Corr
0.92	NQGCX	Nuveen Nwq Global	Pair Corr
0.86	NQGAX	Nuveen Nwq Global	Pair Corr
0.68	FAFJX	Nuveen Limited Term	Pair Corr
0.86	NQGIX	Nuveen Nwq Global	Pair Corr
0.64	FAMAX	Nuveen Minnesota Int	Pair Corr
0.65	FAMTX	Nuveen Minnesota Int	Pair Corr
0.93	FSCCX	First American Investment	Pair Corr
0.93	FSCVX	Nuveen Small Cap	Pair Corr
0.93	FSCWX	Nuveen Small Cap	Pair Corr
0.93	FSCAX	Nuveen Small Cap	Pair Corr
0.89	FSEIX	Nuveen Mid Cap	Pair Corr
0.9	FAQIX	Nuveen Dividend Value	Pair Corr
0.93	FASEX	Nuveen Mid Cap	Pair Corr
0.73	FSHAX	Nuveen Short Term	Pair Corr
0.71	FSFRX	Nuveen Strategic Income	Pair Corr

Related Correlations Analysis

	CNREX	BUFGX	MSTSX	LBHIX	ABHYX	VIASP	XTWO	GBEI	KNF	AMPL
CNREX		0.69	0.72	0.66	0.04	0.61	0.57	0.57	0.34	-0.04	CNREX
BUFGX	0.69		0.93	0.94	0.13	0.93	0.88	0.69	0.09	-0.12	BUFGX
MSTSX	0.72	0.93		0.91	0.14	0.88	0.84	0.57	-0.03	-0.11	MSTSX
LBHIX	0.66	0.94	0.91		0.35	0.97	0.94	0.58	-0.01	-0.03	LBHIX
ABHYX	0.04	0.13	0.14	0.35		0.3	0.39	-0.12	-0.13	0.01	ABHYX
VIASP	0.61	0.93	0.88	0.97	0.3		0.92	0.58	-0.06	0.01	VIASP
XTWO	0.57	0.88	0.84	0.94	0.39	0.92		0.6	0.08	0.01	XTWO
GBEI	0.57	0.69	0.57	0.58	-0.12	0.58	0.6		0.47	0.09	GBEI
KNF	0.34	0.09	-0.03	-0.01	-0.13	-0.06	0.08	0.47		0.05	KNF
AMPL	-0.04	-0.12	-0.11	-0.03	0.01	0.01	0.01	0.09	0.05		AMPL
	CNREX	BUFGX	MSTSX	LBHIX	ABHYX	VIASP	XTWO	GBEI	KNF	AMPL

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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

VIASP	+ 0.97	LBHIX
LBHIX	+ 0.94	BUFGX
XTWO	+ 0.94	LBHIX
MSTSX	+ 0.93	BUFGX
VIASP	+ 0.93	BUFGX
XTWO	+ 0.92	VIASP

High negative correlations

KNF	- 0.13	ABHYX
GBEI	- 0.12	ABHYX
AMPL	- 0.12	BUFGX
AMPL	- 0.11	MSTSX
KNF	- 0.06	VIASP
AMPL	- 0.04	CNREX

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Santa 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 Santa'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
CNREX	0.74	(0.08)	(0.09)	0.02	0.92	(0.80)	1.62	(1.50)	5.01
BUFGX	0.61	0.19	0.05	(0.52)	0.57	(0.67)	1.41	(1.02)	4.06
MSTSX	0.48	0.11	(0.01)	(1.68)	0.50	(0.52)	1.11	(0.92)	2.69
LBHIX	0.15	0.03	(0.24)	0.42	0.00	(0.31)	0.24	(0.24)	1.42
ABHYX	0.17	0.03	(0.36)	(2.14)	0.00	(0.29)	0.59	(0.24)	1.07
VIASP	0.28	0.09	(0.03)	1.04	0.00	(0.35)	0.69	(0.40)	1.59
XTWO	0.07	0.01	(1.12)	0.50	0.00	(0.09)	0.14	(0.10)	0.61
GBEI	3.00	0.16	0.00	0.25	0.00	0.00	10.00	(9.09)	55.14
KNF	1.87	(0.40)	0.00	(0.13)	0.00	0.00	4.54	(4.31)	13.43
AMPL	4.03	0.09	(0.01)	(0.39)	4.33	(5.62)	9.17	(7.20)	42.50

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