Nuveen Minnesota Correlations

Mutual Funds . USA . 
Fund . Nuveen Minnesota Intermediate
FAMTX Fund  USD 9.59  0.04  0.42%   
The current 90-days correlation between Nuveen Minnesota Int and Vanguard Reit Index is 0.31 (i.e., Weak diversification). The correlation of Nuveen Minnesota 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 Minnesota Correlation With Market

Significant diversification

The correlation between Nuveen Minnesota Intermediate and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Minnesota Intermediate 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 Minnesota Intermediate. 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 estimate.

Moving together with Nuveen Mutual Fund

  0.75FREAX Nuveen Real EstatePairCorr
  0.85NPSAX Nuveen Preferred SecPairCorr
  0.84NPSRX Nuveen Preferred SecPairCorr
  0.97FRKSX Nuveen Kansas MunicipalPairCorr
  0.73FRLCX Nuveen Real EstatePairCorr
  0.98FAAWX Nuveen All AmericanPairCorr
  0.87FAFPX Nuveen Missouri MunicipalPairCorr
  0.93FAFLX Nuveen Louisiana MunPairCorr
  0.86FAFKX Nuveen Orado MunicipalPairCorr
  0.98FAFJX Nuveen Limited TermPairCorr
  0.75FARCX Nuveen Real EstatePairCorr
  0.87FSHAX Nuveen Short TermPairCorr
  0.81FSFRX Nuveen Strategic IncomePairCorr
  0.79FSHYX Nuveen Short TermPairCorr
  0.76NQWFX Nuveen Nwq FlexiblePairCorr
  0.92FAZTX Nuveen Arizona MunicipalPairCorr
  0.63NRIAX Nuveen Real AssetPairCorr
  0.68NRICX Nuveen Real AssetPairCorr
  0.69NRIIX Nuveen Real AssetPairCorr
  0.62NRIFX Nuveen Real AssetPairCorr
  0.75NAAFX Nuveen Nebraska MunicipalPairCorr
  0.83NAAGX Nuveen MassachusettsPairCorr
  0.92NACCX Nuveen Maryland MunicipalPairCorr
  0.99FTLRX Nuveen Louisiana MunPairCorr
  0.99NAFOX Nuveen Oregon IntermPairCorr
  0.98FTLAX Nuveen Louisiana MunPairCorr
  0.9NAKFX Nuveen CaliforniaPairCorr

Moving against Nuveen Mutual Fund

  0.45FRMPX Nuveen Small CapPairCorr
  0.4EMGRX Nuveen Small CapPairCorr
  0.4FRSLX Nuveen Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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