Nuveen Small Correlations

Mutual Funds . USA . 
Fund . Nuveen Small Cap
FMPFX Fund  USD 36.73  0.02  0.05%   
The current 90-days correlation between Nuveen Small Cap and Nuveen Small Cap is 0.23 (i.e., Modest diversification). The correlation of Nuveen Small 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 Small Correlation With Market

Modest diversification

The correlation between Nuveen Small Cap and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Small Cap 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 Small Cap. 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 census.

Moving together with Nuveen Mutual Fund

  0.9EMGRX Nuveen Small CapPairCorr
  1.0FRMPX Nuveen Small CapPairCorr
  0.97FRSLX Nuveen Mid CapPairCorr
  0.93FSCCX First American InvestmentPairCorr
  0.89FSCVX Nuveen Small CapPairCorr
  0.93FSCWX Nuveen Small CapPairCorr
  0.93FSCAX Nuveen Small CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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