Nuveen California Correlations

NAC Fund

USD 11.33 0.02 0.18%

The current 90-days correlation between Nuveen California and Nuveen California Amt is 0.53 (i.e., Very weak diversification). The correlation of Nuveen California 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.

Nuveen California Correlation With Market

Modest diversification

The correlation between Nuveen California Dividend and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen California Dividend and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nuveen California Dividend. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Nuveen Fund

0.91	NHS	Neuberger Berman High	Pair Corr
0.93	GIOIX	Guggenheim Macro Opp	Pair Corr
0.82	DBIWX	Dws Global Macro	Pair Corr
0.79	BISMX	Brandes International	Pair Corr
0.87	ABNOX	Ab Bond Inflation	Pair Corr
0.68	EBSIX	Campbell Systematic Macro	Pair Corr
0.84	HRBDX	Harbor Bond Fund	Pair Corr
0.86	TIMUX	Transamerica Intermediate	Pair Corr
0.85	HTD	John Hancock Tax	Pair Corr
0.7	SGDLX	Sprott Gold Equity	Pair Corr
0.82	USGDX	Morgan Stanley Government	Pair Corr
0.79	ARBOX	Absolute Convertible	Pair Corr
0.85	VICSX	Vanguard Intermediate-ter	Pair Corr
0.87	DLDFX	Destinations Low Duration	Pair Corr
0.74	UTF	Cohen And Steers	Pair Corr

Related Correlations Analysis

	NKX	NCA	MUC	VCV	BFZ
NKX		0.79	0.75	0.51	0.32	NKX
NCA	0.79		0.82	0.44	0.08	NCA
MUC	0.75	0.82		0.65	0.49	MUC
VCV	0.51	0.44	0.65		0.3	VCV
BFZ	0.32	0.08	0.49	0.3		BFZ
	NKX	NCA	MUC	VCV	BFZ

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen California 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 California'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NKX	0.65	0.00	0.00	0.02	0.92	(0.66)	1.45	(1.34)	4.07
NCA	0.38	0.03	0.04	0.32	0.51	(0.41)	0.70	(0.81)	1.91
MUC	0.41	(0.01)	0.00	(0.07)	0.00	0.00	0.86	(0.83)	2.08
VCV	0.56	0.06	0.07	0.50	0.71	(0.61)	1.52	(1.18)	4.27
BFZ	0.44	(0.06)	0.00	(0.27)	0.00	0.00	0.98	(0.90)	4.57

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

Nuveen California Correlations

Nuveen California Correlation With Market

Modest diversification

Moving together with Nuveen Fund

Related Correlations Analysis

Risk-Adjusted Indicators

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY