Nuveen California Correlations

NAWSX Fund

USD 7.97 0.01 0.13%

The current 90-days correlation between Nuveen California High and Nuveen Small Cap is 0.2 (i.e., Modest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nuveen California High. 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 state.

Moving together with Nuveen Mutual Fund

0.74	NPSAX	Nuveen Preferred Sec	Pair Corr
0.99	FAAWX	Nuveen All American	Pair Corr
0.97	FAFJX	Nuveen Limited Term	Pair Corr
0.78	FSHAX	Nuveen Short Term	Pair Corr
0.9	FCTRX	Nuveen Necticut Municipal	Pair Corr
0.91	NBMAX	Nuveen Massachusetts	Pair Corr
0.99	NCSPX	Nuveen California	Pair Corr
0.9	FGCCX	Nuveen Georgia Municipal	Pair Corr
0.89	FYMNX	Nuveen Minnesota Mun	Pair Corr
0.91	FZCCX	Nuveen Arizona Municipal	Pair Corr
0.97	NHCCX	Nuveen High Yield	Pair Corr
0.87	NHMAX	Nuveen High Yield	Pair Corr
0.96	NHMFX	Nuveen High Yield	Pair Corr
0.87	NHMRX	Nuveen High Yield	Pair Corr
0.99	FLNCX	Nuveen North Carolina	Pair Corr
0.91	NNCCX	Nuveen Intermediate	Pair Corr
0.89	FCAVX	Franklin California Tax	Pair Corr
0.99	FKTQX	Franklin California Tax	Pair Corr
0.89	FRCTX	Franklin California Tax	Pair Corr
0.96	FKTFX	Franklin California Tax	Pair Corr
0.96	FTFQX	Franklin California Tax	Pair Corr
0.99	VCITX	Vanguard California	Pair Corr
0.9	VCLAX	Vanguard California	Pair Corr

Related Correlations Analysis

	EMGRX	FREAX	FREGX	NPSAX	NPSFX	NPSCX	NPSRX	FRKSX	FRMPX	FRLCX
EMGRX		0.36	0.38	0.41	0.38	0.34	0.36	0.52	0.91	0.36	EMGRX
FREAX	0.36		0.92	0.43	0.4	0.51	0.26	0.48	0.02	0.92	FREAX
FREGX	0.38	0.92		0.38	0.34	0.47	0.19	0.42	0.01	1.0	FREGX
NPSAX	0.41	0.43	0.38		1.0	0.99	0.94	0.76	0.34	0.37	NPSAX
NPSFX	0.38	0.4	0.34	1.0		0.98	0.95	0.76	0.33	0.34	NPSFX
NPSCX	0.34	0.51	0.47	0.99	0.98		0.92	0.75	0.23	0.46	NPSCX
NPSRX	0.36	0.26	0.19	0.94	0.95	0.92		0.73	0.34	0.19	NPSRX
FRKSX	0.52	0.48	0.42	0.76	0.76	0.75	0.73		0.39	0.41	FRKSX
FRMPX	0.91	0.02	0.01	0.34	0.33	0.23	0.34	0.39		-0.01	FRMPX
FRLCX	0.36	0.92	1.0	0.37	0.34	0.46	0.19	0.41	-0.01		FRLCX
	EMGRX	FREAX	FREGX	NPSAX	NPSFX	NPSCX	NPSRX	FRKSX	FRMPX	FRLCX

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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

FRLCX	+ 1.0	FREGX
NPSFX	+ 1.0	NPSAX
NPSCX	+ 0.99	NPSAX
NPSCX	+ 0.98	NPSFX
NPSRX	+ 0.95	NPSFX
NPSRX	+ 0.94	NPSAX

High negative correlations

FRLCX

- 0.01

FRMPX

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen California 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 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
EMGRX	0.89	0.03	0.02	0.11	1.05	(1.06)	1.66	(1.42)	10.34
FREAX	0.73	(0.13)	0.00	(1.68)	0.00	0.00	1.17	(1.40)	5.18
FREGX	0.84	(0.20)	0.00	(0.61)	0.00	0.00	1.25	(1.90)	6.36
NPSAX	0.11	(0.02)	0.00	(0.99)	0.00	0.00	0.26	(0.26)	1.03
NPSFX	0.11	(0.02)	0.00	(1.04)	0.00	0.00	0.26	(0.26)	1.15
NPSCX	0.11	(0.02)	0.00	(1.18)	0.00	0.00	0.26	(0.26)	1.03
NPSRX	0.13	(0.01)	0.00	(0.90)	0.00	0.00	0.26	(0.26)	1.03
FRKSX	0.17	(0.03)	0.00	(0.54)	0.00	0.00	0.30	(0.40)	1.31
FRMPX	0.98	0.11	0.08	0.29	1.15	(1.04)	1.86	(1.79)	9.36
FRLCX	0.83	(0.20)	0.00	(0.62)	0.00	0.00	1.23	(1.84)	6.82

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Nuveen California Correlations

Moving together with Nuveen Mutual Fund

Related Correlations Analysis

Correlation Matchups

Risk-Adjusted Indicators

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