Nuveen Orado Correlations
FAFKX Fund | USD 10.13 0.04 0.39% |
The current 90-days correlation between Nuveen Orado Municipal and Nuveen Small Cap is -0.27 (i.e., Very good diversification). The correlation of Nuveen Orado 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 Orado Correlation With Market
Very good diversification
The correlation between Nuveen Orado Municipal and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Orado Municipal and DJI in the same portfolio, assuming nothing else is changed.
Nuveen |
Moving together with Nuveen Mutual Fund
0.61 | NPSAX | Nuveen Preferred Sec | PairCorr |
0.61 | NPSCX | Nuveen Preferred Sec | PairCorr |
0.95 | FRKSX | Nuveen Kansas Municipal | PairCorr |
0.99 | FAARX | Nuveen All American | PairCorr |
0.99 | FAAWX | Nuveen All American | PairCorr |
0.98 | FACCX | Nuveen All American | PairCorr |
1.0 | FAFPX | Nuveen Missouri Municipal | PairCorr |
0.93 | FAFOX | Nuveen Kansas Municipal | PairCorr |
0.98 | FAFNX | Nuveen Michigan Municipal | PairCorr |
0.86 | FAFMX | Nuveen Ohio Municipal | PairCorr |
0.92 | FAFLX | Nuveen Louisiana Mun | PairCorr |
0.73 | FAFJX | Nuveen Limited Term | PairCorr |
0.99 | FAMAX | Nuveen Minnesota Int | PairCorr |
0.98 | FAMTX | Nuveen Minnesota Int | PairCorr |
0.87 | FSHAX | Nuveen Short Term | PairCorr |
Related Correlations Analysis
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Nuveen Mutual Fund performing well and Nuveen Orado 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 Orado'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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
EMGRX | 0.85 | 0.06 | 0.12 | 0.13 | 0.57 | 2.10 | 7.90 | |||
FREAX | 0.65 | (0.07) | 0.00 | (0.28) | 0.00 | 1.15 | 3.14 | |||
FREGX | 0.64 | (0.08) | 0.00 | (0.36) | 0.00 | 1.16 | 3.12 | |||
NPSAX | 0.12 | 0.01 | (0.50) | 0.29 | 0.00 | 0.32 | 0.71 | |||
NPSFX | 0.12 | 0.01 | (0.47) | 0.37 | 0.00 | 0.26 | 0.83 | |||
NPSCX | 0.11 | 0.00 | (0.53) | 0.17 | 0.00 | 0.26 | 0.71 | |||
NPSRX | 0.13 | 0.01 | (0.51) | 0.33 | 0.00 | 0.32 | 0.83 | |||
FRKSX | 0.16 | (0.02) | 0.00 | 0.32 | 0.00 | 0.30 | 1.31 | |||
FRMPX | 0.91 | 0.20 | 0.13 | 0.70 | 0.76 | 2.19 | 7.20 | |||
FRLCX | 0.64 | (0.08) | 0.00 | (0.29) | 0.00 | 1.13 | 3.10 |