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Nicholson as a stretch 4 is intriguing, but he's been far more valuable as a traditional big this season.
The Magic have had Andrew Nicholson experiment with the three ball this season, and though early returns were promising, he's regressed to the point that they might just end up abandoning the idea altogether.
Nicholson was shooting 37.9 percent from deep heading into the month of December, and lineups featuring both him and Nikola Vucevic, propped up by some stingy defense, were outscoring opponents by 11.7 points per 100 possessions, via NBA.com.
Since then, Nicholson's shot has fallen off a cliff—he's hit just 25 percent of his threes and shot just over 30 percent from mid-range and beyond, per NBA.com.
The Vucevic-Nicholson pairing has been outscored by an eye-popping 30.6 points per 100 possessions since that point, per NBA.com (though it's an admittedly small sample, as Vucevic has been out for a bit). As a result, Nicholson's averaging just 11 minutes per game in January after averaging 19.8 in the first two months of the season.
The Magic aren't crazy to experiment with Nicholson's range. Bigs who can shoot from the perimeter are extremely valuable, and losing teams can afford to roll the dice on this stuff—the Boston Celtics have tried the exact same experiment with Jared Sullinger to mixed results. Nicholson's shooting is down from just about everywhere, so this could just be a prolonged slump. Again, the sample is pretty small.
Still, Nicholson has real value posting up and in the pick-and-roll, and using him primarily as a spot-up shooter (as the Magic have, per Synergy Sports Technology) may not be the wisest course of action at this point. They have nothing to lose continuing with the experiment, but Nicholson's confidence seems shot, and he's proven to be effective in other roles.