Nuveen Arizona Correlations

Mutual Funds . USA . 
Fund . Nuveen Arizona Municipal
FAZTX Fund  USD 10.01  0.03  0.30%   
The current 90-days correlation between Nuveen Arizona Municipal and Siit Small Cap is 0.19 (i.e., Average diversification). The correlation of Nuveen Arizona 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 Arizona Correlation With Market

Significant diversification

The correlation between Nuveen Arizona Municipal and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Arizona 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 Arizona 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 estimate.

Moving together with Nuveen Mutual Fund

  0.77FREAX Nuveen Real EstatePairCorr
  0.77FREGX Nuveen Real EstatePairCorr
  0.73NPSAX Nuveen Preferred SecPairCorr
  0.69NPSFX Nuveen Preferred SecPairCorr
  0.75NPSCX Nuveen Preferred SecPairCorr
  0.7NPSRX Nuveen Preferred SecPairCorr
  0.97FRKSX Nuveen Kansas MunicipalPairCorr
  0.77FRLCX Nuveen Real EstatePairCorr
  0.97FAARX Nuveen All AmericanPairCorr
  0.97FAAWX Nuveen All AmericanPairCorr
  0.99FACCX Nuveen All AmericanPairCorr
  0.98FAFPX Nuveen Missouri MunicipalPairCorr
  0.99FAFOX Nuveen Kansas MunicipalPairCorr
  0.94FAFNX Nuveen Michigan MunicipalPairCorr
  0.99FAFMX Nuveen Ohio MunicipalPairCorr
  0.98FAFLX Nuveen Louisiana MunPairCorr
  0.98FAFKX Nuveen Orado MunicipalPairCorr
  0.87FAFJX Nuveen Limited TermPairCorr
  0.84FAMAX Nuveen Minnesota IntPairCorr
  0.93FAMTX Nuveen Minnesota IntPairCorr
  0.78FARCX Nuveen Real EstatePairCorr
  0.7FSHAX Nuveen Short TermPairCorr
  0.71FSFRX 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 Arizona 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 Arizona'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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