Correlation Between Nuveen Santa and Evaluator Growth

Can any of the company-specific risk be diversified away by investing in both Nuveen Santa and Evaluator Growth 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 Santa and Evaluator Growth into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Nuveen Santa Barbara and Evaluator Growth Rms, you can compare the effects of market volatilities on Nuveen Santa and Evaluator Growth 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 Santa with a short position of Evaluator Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nuveen Santa and Evaluator Growth.

Diversification Opportunities for Nuveen Santa and Evaluator Growth

0.0

Correlation Coefficient

Nuveen Santa  Evaluator Growth

Pay attention - limited upside

The 3 months correlation between Nuveen and Evaluator is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Santa Barbara and Evaluator Growth Rms in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Evaluator Growth Rms and Nuveen Santa 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 Santa Barbara are associated (or correlated) with Evaluator Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Evaluator Growth Rms has no effect on the direction of Nuveen Santa i.e., Nuveen Santa and Evaluator Growth go up and down completely randomly.

Pair Corralation between Nuveen Santa and Evaluator Growth

If you would invest  1,199  in Evaluator Growth Rms on May 12, 2025 and sell it today you would earn a total of  81.00  from holding Evaluator Growth Rms or generate 6.76% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Nuveen Santa Barbara  vs.  Evaluator Growth Rms

Nuveen Santa Barbara

Risk-Adjusted Performance

Fair

Over the last 90 days Nuveen Santa Barbara has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, Nuveen Santa is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Evaluator Growth Rms

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Evaluator Growth Rms are ranked lower than 15 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Evaluator Growth may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with Nuveen Santa and Evaluator Growth

The main advantage of trading using opposite Nuveen Santa and Evaluator Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nuveen Santa position performs unexpectedly, Evaluator Growth 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 Evaluator Growth will offset losses from the drop in Evaluator Growth's long position.

The idea behind Nuveen Santa Barbara and Evaluator Growth Rms pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.