Nuveen High Correlations

Mutual Funds . USA . 
Fund . Nuveen High Yield
NHMAX Fund  USD 14.92  0.08  0.53%   
The current 90-days correlation between Nuveen High Yield and Oppenheimer Rochester High is 0.92 (i.e., Almost no diversification). The correlation of Nuveen High 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 High Correlation With Market

Very good diversification

The correlation between Nuveen High Yield and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen High Yield 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 High Yield. 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

  0.97FRKSX Nuveen Kansas MunicipalPairCorr
  0.94FAARX Nuveen All AmericanPairCorr
  0.95FAAWX Nuveen All AmericanPairCorr
  0.93FACCX Nuveen All AmericanPairCorr
  0.95FAFPX Nuveen Missouri MunicipalPairCorr
  0.96FAFOX Nuveen Kansas MunicipalPairCorr
  0.91FAFNX Nuveen Michigan MunicipalPairCorr
  0.9FAFMX Nuveen Ohio MunicipalPairCorr
  0.93FAFLX Nuveen Louisiana MunPairCorr
  0.94FAFKX Nuveen Orado MunicipalPairCorr
  0.86FAFJX Nuveen Limited TermPairCorr
  0.92FAMAX Nuveen Minnesota IntPairCorr
  0.9FAMTX Nuveen Minnesota IntPairCorr
  0.82FSHAX Nuveen Short TermPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen High 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 High'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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