Nuveen Minnesota Correlations

Mutual Funds USA . 
Fund . Nuveen Minnesota Municipal
FJMNX Fund  USD 10.77  0.01  0.09%   
The current 90-days correlation between Nuveen Minnesota Mun and Artisan High Income is 0.6 (i.e., Poor 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

Average diversification

The correlation between Nuveen Minnesota Municipal and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Minnesota 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 Minnesota 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 board of governors.

Moving together with Nuveen Mutual Fund

  0.79NPSAX Nuveen Preferred SecPairCorr
  0.79NPSFX Nuveen Preferred SecPairCorr
  0.78NPSCX Nuveen Preferred SecPairCorr
  0.75NPSRX Nuveen Preferred SecPairCorr
  0.99FRKSX Nuveen Kansas MunicipalPairCorr
  1.0FAARX Nuveen All AmericanPairCorr
  0.92FAAWX Nuveen All AmericanPairCorr
  0.98FACCX Nuveen All AmericanPairCorr
  0.93FAFPX Nuveen Missouri MunicipalPairCorr
  0.93FAFOX Nuveen Kansas MunicipalPairCorr
  0.91FAFNX Nuveen Michigan MunicipalPairCorr
  0.63NQGCX Nuveen Nwq GlobalPairCorr
  0.91FAFMX Nuveen Ohio MunicipalPairCorr
  0.99FAFLX Nuveen Louisiana MunPairCorr
  0.93FAFKX Nuveen Orado MunicipalPairCorr
  0.64NQGAX Nuveen Nwq GlobalPairCorr
  0.87FAFJX Nuveen Limited TermPairCorr
  0.64NQGIX Nuveen Nwq GlobalPairCorr
  0.98FAMAX Nuveen Minnesota IntPairCorr
  0.99FAMTX Nuveen Minnesota IntPairCorr
  0.89FSHAX Nuveen Short TermPairCorr

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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