Nuveen All-american Correlations

Mutual Funds . USA . 
Fund . Nuveen All American Municipal
FAARX Fund  USD 9.96  0.03  0.30%   
The current 90-days correlation between Nuveen All American and Ft 7934 Corporate is 0.37 (i.e., Weak diversification). 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

Modest diversification

The correlation between Nuveen All American Municipal and DJI is 0.21 (i.e., Modest 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

  0.76FREAX Nuveen Real EstatePairCorr
  0.76FREGX Nuveen Real EstatePairCorr
  0.73NPSAX Nuveen Preferred SecPairCorr
  0.69NPSFX Nuveen Preferred SecPairCorr
  0.72NPSCX Nuveen Preferred SecPairCorr
  0.72NPSRX Nuveen Preferred SecPairCorr
  0.99FRKSX Nuveen Kansas MunicipalPairCorr
  0.75FRLCX Nuveen Real EstatePairCorr
  1.0FAAWX Nuveen All AmericanPairCorr
  0.99FACCX Nuveen All AmericanPairCorr
  0.95FAFPX Nuveen Missouri MunicipalPairCorr
  0.98FAFOX Nuveen Kansas MunicipalPairCorr
  0.88FAFNX Nuveen Michigan MunicipalPairCorr
  0.96FAFMX Nuveen Ohio MunicipalPairCorr
  0.99FAFLX Nuveen Louisiana MunPairCorr
  0.94FAFKX Nuveen Orado MunicipalPairCorr
  0.93FAFJX Nuveen Limited TermPairCorr
  0.98FAMAX Nuveen Minnesota IntPairCorr
  0.98FAMTX Nuveen Minnesota IntPairCorr
  0.76FARCX Nuveen Real EstatePairCorr
  0.74FSHAX Nuveen Short TermPairCorr
  0.74FSFRX 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   
WRLDX
+ 0.66
FZNQEX
FMFTX
+ 0.65
FLAKQX
WRLDX
+ 0.62
FLAKQX
FZDAQX
+ 0.6
WRLDX
FZDAQX
+ 0.59
FLAKQX
FZDAQX
+ 0.51
FZNQEX
  
High negative correlations   
FZNOPX
- 0.42
FZNQEX
FMFTX
- 0.09
FZNQEX

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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