Nuveen Louisiana Correlations

Mutual Funds . USA . 
Fund . Nuveen Louisiana Municipal
FAFLX Fund  USD 10.33  0.07  0.67%   
The current 90-days correlation between Nuveen Louisiana Mun and Msift High Yield is 0.52 (i.e., Very weak diversification). The correlation of Nuveen Louisiana 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 Louisiana Correlation With Market

Significant diversification

The correlation between Nuveen Louisiana Municipal and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Louisiana 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 Louisiana 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 bureau of economic analysis.

Moving together with Nuveen Mutual Fund

  0.76FREAX Nuveen Real EstatePairCorr
  0.76FREGX Nuveen Real EstatePairCorr
  0.74NPSAX Nuveen Preferred SecPairCorr
  0.71NPSFX Nuveen Preferred SecPairCorr
  0.75NPSCX Nuveen Preferred SecPairCorr
  0.73NPSRX Nuveen Preferred SecPairCorr
  0.97FRKSX Nuveen Kansas MunicipalPairCorr
  0.76FRLCX Nuveen Real EstatePairCorr
  0.99FAARX Nuveen All AmericanPairCorr
  0.99FAAWX Nuveen All AmericanPairCorr
  0.99FACCX Nuveen All AmericanPairCorr
  0.96FAFPX Nuveen Missouri MunicipalPairCorr
  0.98FAFOX Nuveen Kansas MunicipalPairCorr
  0.91FAFNX Nuveen Michigan MunicipalPairCorr
  0.97FAFMX Nuveen Ohio MunicipalPairCorr
  0.96FAFKX Nuveen Orado MunicipalPairCorr
  0.91FAFJX Nuveen Limited TermPairCorr
  0.97FAMAX Nuveen Minnesota IntPairCorr
  0.96FAMTX Nuveen Minnesota IntPairCorr
  0.76FARCX Nuveen Real EstatePairCorr
  0.72FSHAX Nuveen Short TermPairCorr
  0.73FSFRX Nuveen Strategic IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Louisiana 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 Louisiana'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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