Nuveen All-american Correlations

Mutual Funds . USA . 
Fund . Nuveen All American Municipal
FAARX Fund  USD 10.20  0.03  0.29%   
The correlation of Nuveen All-american 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 All-american Correlation With Market

Average diversification

The correlation between Nuveen All American Municipal and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen All American Municipal and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Nuveen All American Municipal. 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 metropolitan statistical area.

Moving together with Nuveen Mutual Fund

  0.63EMGRX Nuveen Small CapPairCorr
  0.71FREAX Nuveen Real EstatePairCorr
  0.71FREGX Nuveen Real EstatePairCorr
  0.99FRKSX Nuveen Kansas MunicipalPairCorr
  0.83FRLCX Nuveen Real EstatePairCorr
  0.84NQCCX Nuveen Nwq LargePairCorr
  0.77NQCAX Nuveen Nwq LargePairCorr
  1.0FAAWX Nuveen All AmericanPairCorr
  0.63FACSX Nuveen Mid CapPairCorr
  0.99FACCX Nuveen All AmericanPairCorr
  0.77NQCRX Nuveen Nwq LargePairCorr
  0.91FAFPX Nuveen Missouri MunicipalPairCorr
  0.96FAFOX Nuveen Kansas MunicipalPairCorr
  0.9FAFNX Nuveen Michigan MunicipalPairCorr
  0.98FAFMX Nuveen Ohio MunicipalPairCorr
  0.96FAFLX Nuveen Louisiana MunPairCorr
  0.91FAFKX Nuveen Orado MunicipalPairCorr
  0.84FAFJX Nuveen Limited TermPairCorr
  0.86FAMAX Nuveen Minnesota IntPairCorr
  0.94FAMTX Nuveen Minnesota IntPairCorr
  0.68FSCCX First American InvestmentPairCorr
  0.68FSCVX Nuveen Small CapPairCorr
  0.68FSCWX Nuveen Small CapPairCorr
  0.68FSCAX Nuveen Small CapPairCorr
  0.63FSEIX Nuveen Mid CapPairCorr
  0.78FAQIX Nuveen Dividend ValuePairCorr
  0.83FARCX Nuveen Real EstatePairCorr
  0.7FASEX Nuveen Mid CapPairCorr
  0.66FSFRX Nuveen Strategic IncomePairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FURYAX
+ 0.88
FZNOPX
FBANJX
+ 0.83
FXYBJX
FXYBJX
+ 0.82
FURYAX
FBANJX
+ 0.76
FURYAX
FXYBJX
+ 0.63
FZNOPX
FBANJX
+ 0.6
CPUCX
  
High negative correlations   
CPUCX
- 0.13
MFTFX

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen All-american 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 All-american'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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