Correlation Between Nuveen Large and Tiaa Cref
Can any of the company-specific risk be diversified away by investing in both Nuveen Large and Tiaa Cref at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Nuveen Large and Tiaa Cref into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Nuveen Large Cap and Tiaa Cref Managed Allocation, you can compare the effects of market volatilities on Nuveen Large and Tiaa Cref and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Nuveen Large with a short position of Tiaa Cref. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nuveen Large and Tiaa Cref.
Diversification Opportunities for Nuveen Large and Tiaa Cref
0.96 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Nuveen and Tiaa is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Large Cap and Tiaa Cref Managed Allocation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tiaa Cref Managed and Nuveen Large is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Nuveen Large Cap are associated (or correlated) with Tiaa Cref. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tiaa Cref Managed has no effect on the direction of Nuveen Large i.e., Nuveen Large and Tiaa Cref go up and down completely randomly.
Pair Corralation between Nuveen Large and Tiaa Cref
Assuming the 90 days horizon Nuveen Large Cap is expected to generate 1.63 times more return on investment than Tiaa Cref. However, Nuveen Large is 1.63 times more volatile than Tiaa Cref Managed Allocation. It trades about 0.23 of its potential returns per unit of risk. Tiaa Cref Managed Allocation is currently generating about 0.22 per unit of risk. If you would invest 4,031 in Nuveen Large Cap on June 8, 2025 and sell it today you would earn a total of 392.00 from holding Nuveen Large Cap or generate 9.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Nuveen Large Cap vs. Tiaa Cref Managed Allocation
Performance |
| Timeline |
| Nuveen Large Cap |
| Tiaa Cref Managed |
Nuveen Large and Tiaa Cref Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nuveen Large and Tiaa Cref
The main advantage of trading using opposite Nuveen Large and Tiaa Cref positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nuveen Large position performs unexpectedly, Tiaa Cref can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Tiaa Cref will offset losses from the drop in Tiaa Cref's long position.| Nuveen Large vs. Nuveen Large Cap | Nuveen Large vs. Nuveen Large Cap | Nuveen Large vs. Lazard Equity Centrated | Nuveen Large vs. Guggenheim Styleplus |
| Tiaa Cref vs. Fidelity Advisor Technology | Tiaa Cref vs. Mfs Technology Fund | Tiaa Cref vs. Biotechnology Ultrasector Profund | Tiaa Cref vs. Blackrock Science Technology |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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