It depends on what is causing the issue. Hyperactive and nervous are two completely different things. A hyperactive dog is perfectly happy, is usually bold and isn't fearful. It just doesn't have an off switch. This dog will need a job and LOTS (hours and hours) of exercise. I compete in agility and LOVE, LOVE, LOVE me a monsterous, hyperactive dog. I own one, and he is a complete blast. But he needs lots of mental and physical activity.
If the dog is fearful and nervous, this is different. Exercise and socialization will help this dog, as will training classes. However the exercise needs to be in a very controlled, safe environment that encourages the dog to become more bold rather than overwhelms the dog to more fear.
I would suggest you get with a really good positive reinforcement trainer or behaviorist and get some strategies in place for your dog. I have a hub on finding the right obedience trainer that can help you get with a good trainer. :) Do make sure they are a positive trainer and not a punishment based trainer as you may be dealing with some fear issues. Good luck!