Nuveen Arizona Correlations

Mutual Funds . USA . 
Fund . Nuveen Arizona Municipal
FZCCX Fund  USD 10.11  0.01  0.1%   
The current 90-days correlation between Nuveen Arizona Municipal and Columbia Real Estate is 0.22 (i.e., Modest 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

Average diversification

The correlation between Nuveen Arizona Municipal and DJI is 0.14 (i.e., Average 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 main economic indicators.

Moving together with Nuveen Mutual Fund

  0.64NPSAX Nuveen Preferred SecPairCorr
  0.9FAAWX Nuveen All AmericanPairCorr
  0.87FAFJX Nuveen Limited TermPairCorr
  0.81FSHAX Nuveen Short TermPairCorr
  0.86NAWSX Nuveen California HighPairCorr
  0.99FCTRX Nuveen Necticut MunicipalPairCorr
  0.98NBMAX Nuveen MassachusettsPairCorr
  0.88NCSPX Nuveen CaliforniaPairCorr
  0.99FGCCX Nuveen Georgia MunicipalPairCorr
  0.87FYMNX Nuveen Minnesota MunPairCorr
  0.88NHCCX Nuveen High YieldPairCorr
  0.87NHMAX Nuveen High YieldPairCorr
  0.87NHMFX Nuveen High YieldPairCorr
  0.87NHMRX Nuveen High YieldPairCorr
  0.91FLNCX Nuveen North CarolinaPairCorr
  0.99NNCCX Nuveen IntermediatePairCorr
  0.87TFBIX Maryland Tax FreePairCorr
  0.87MDXBX Maryland Tax FreePairCorr
  0.85PRVAX Virginia Tax FreePairCorr
  1.0TFBVX Virginia Tax FreePairCorr
  0.93FOFZX Franklin Oregon TaxPairCorr
  0.92FOFRX Franklin Oregon TaxPairCorr
  0.9FRMZX Franklin Missouri TaxPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
RRRZX
+ 0.99
CREYX
GMJPX
+ 0.97
CREYX
PJEAX
+ 0.97
CREYX
RRRZX
+ 0.97
GMJPX
RRRZX
+ 0.97
VREQX
VREQX
+ 0.95
CREYX
  
High negative correlations   
VREQX
- 0.52
FORFX
PNDIX
- 0.42
VREQX
RRRZX
- 0.36
FORFX
FORFX
- 0.34
GMJPX
FORFX
- 0.3
CREYX
PNDIX
- 0.23
RRRZX

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY