Nuveen Georgia Correlations

Mutual Funds . USA . 
Fund . Nuveen Georgia Municipal
FGATX Fund  USD 9.74  0.01  0.10%   
The current 90-days correlation between Nuveen Georgia Municipal and Goldman Sachs Inflation is 0.49 (i.e., Very weak diversification). The correlation of Nuveen Georgia 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 Georgia Correlation With Market

Significant diversification

The correlation between Nuveen Georgia Municipal and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Georgia 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 Georgia 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

  0.76NPSAX Nuveen Preferred SecPairCorr
  0.99FAAWX Nuveen All AmericanPairCorr
  0.94FAFJX Nuveen Limited TermPairCorr
  0.85FSHAX Nuveen Short TermPairCorr
  0.98NAWSX Nuveen California HighPairCorr
  0.93FCTRX Nuveen Necticut MunicipalPairCorr
  0.92NBMAX Nuveen MassachusettsPairCorr
  0.99NCSPX Nuveen CaliforniaPairCorr
  0.92FGCCX Nuveen Georgia MunicipalPairCorr
  0.93FYMNX Nuveen Minnesota MunPairCorr
  0.91FZCCX Nuveen Arizona MunicipalPairCorr
  0.99NHCCX Nuveen High YieldPairCorr
  0.91NHMAX Nuveen High YieldPairCorr
  0.99NHMFX Nuveen High YieldPairCorr
  0.91NHMRX Nuveen High YieldPairCorr
  0.98FLNCX Nuveen North CarolinaPairCorr
  0.9NNCCX Nuveen IntermediatePairCorr
  0.98TFBIX Maryland Tax FreePairCorr
  0.92MDXBX Maryland Tax FreePairCorr
  0.97PRVAX Virginia Tax FreePairCorr
  0.91TFBVX Virginia Tax FreePairCorr
  0.97FOFZX Franklin Oregon TaxPairCorr
  0.97FOFRX Franklin Oregon TaxPairCorr
  0.99FRMZX Franklin Missouri TaxPairCorr

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   
LIPNX
+ 0.99
GGJPX
ABNYX
+ 0.96
ABNCX
ABNYX
+ 0.96
LIPNX
ABNYX
+ 0.95
GGJPX
LIPNX
+ 0.93
ABNCX
ABNCX
+ 0.92
GGJPX
  
High negative correlations   
FIFGX
- 0.35
MFTFX
EVOIX
- 0.33
MFTFX
ABNCX
- 0.22
MFTFX
ABNYX
- 0.2
MFTFX
LIPNX
- 0.15
MFTFX
MFTFX
- 0.09
GGJPX

Risk-Adjusted Indicators

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