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.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Nuveen Orado 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 industry.

Moving together with Nuveen Mutual Fund

  0.61NPSAX Nuveen Preferred SecPairCorr
  0.61NPSCX Nuveen Preferred SecPairCorr
  0.95FRKSX Nuveen Kansas MunicipalPairCorr
  0.99FAARX Nuveen All AmericanPairCorr
  0.99FAAWX Nuveen All AmericanPairCorr
  0.98FACCX Nuveen All AmericanPairCorr
  1.0FAFPX Nuveen Missouri MunicipalPairCorr
  0.93FAFOX Nuveen Kansas MunicipalPairCorr
  0.98FAFNX Nuveen Michigan MunicipalPairCorr
  0.86FAFMX Nuveen Ohio MunicipalPairCorr
  0.92FAFLX Nuveen Louisiana MunPairCorr
  0.73FAFJX Nuveen Limited TermPairCorr
  0.99FAMAX Nuveen Minnesota IntPairCorr
  0.98FAMTX Nuveen Minnesota IntPairCorr
  0.87FSHAX Nuveen Short TermPairCorr

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   
FRLCXFREAX
NPSRXNPSAX
NPSCXNPSAX
NPSRXNPSCX
FRMPXEMGRX
NPSRXNPSFX
  
High negative correlations   
NPSFXFREGX
FRLCXFRMPX
FRMPXFREAX
FRLCXEMGRX
FRMPXFREGX
FREAXEMGRX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum 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