Nuveen Amt Correlations

NEA Fund

USD 11.24 0.08 0.71%

The current 90-days correlation between Nuveen Amt Free and Nuveen Municipal Credit is 0.81 (i.e., Very poor diversification). The correlation of Nuveen Amt 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 Amt Correlation With Market

Significant diversification

The correlation between Nuveen Amt Free Municipal and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Amt Free Municipal 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 Amt Free Municipal. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Nuveen Fund

0.7	KF	Korea Closed	Pair Corr
0.68	UTF	Cohen And Steers	Pair Corr
0.79	RNP	Cohen Steers Reit	Pair Corr
0.87	GIOIX	Guggenheim Macro Opp	Pair Corr
0.77	ABNOX	Ab Bond Inflation	Pair Corr
0.68	USGDX	Morgan Stanley Government	Pair Corr
0.83	HTD	John Hancock Tax	Pair Corr
0.7	PGLSX	Global Multi Strategy	Pair Corr
0.85	DLDFX	Destinations Low Duration	Pair Corr
0.73	VICSX	Vanguard Intermediate-ter	Pair Corr
0.67	SGDLX	Sprott Gold Equity	Pair Corr
0.72	HRBDX	Harbor Bond Fund	Pair Corr
0.68	HWACX	Hotchkis Wiley Value	Pair Corr
0.86	TIMUX	Transamerica Intermediate	Pair Corr
0.84	DBIWX	Dws Global Macro	Pair Corr

Moving against Nuveen Fund

0.69	IIF	Morgan Stanley India	Pair Corr
0.5	IFN	India Closed Normal Trading	Pair Corr
0.34	TWN	Taiwan Closed	Pair Corr

Related Correlations Analysis

	NZF	NVG	NUV	NMZ	NAD	NMCO	MVF
NZF		0.95	0.92	0.91	0.92	0.92	0.88	NZF
NVG	0.95		0.96	0.95	0.95	0.97	0.87	NVG
NUV	0.92	0.96		0.94	0.92	0.95	0.91	NUV
NMZ	0.91	0.95	0.94		0.89	0.97	0.85	NMZ
NAD	0.92	0.95	0.92	0.89		0.94	0.87	NAD
NMCO	0.92	0.97	0.95	0.97	0.94		0.85	NMCO
MVF	0.88	0.87	0.91	0.85	0.87	0.85		MVF
	NZF	NVG	NUV	NMZ	NAD	NMCO	MVF

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen Amt 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 Amt'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
NZF	0.45	(0.02)	0.00	(0.23)	0.00	0.00	0.99	(0.96)	2.30
NVG	0.47	0.00	0.00	0.05	0.67	(0.44)	1.06	(1.04)	2.92
NUV	0.34	0.03	0.06	0.26	0.33	(0.43)	0.94	(0.58)	1.83
NMZ	0.48	0.01	0.01	0.03	0.55	(0.51)	1.01	(0.99)	2.79
NAD	0.43	0.00	(0.01)	(0.01)	0.50	(0.47)	0.97	(0.86)	2.17
NMCO	0.44	0.04	0.06	0.30	0.52	(0.48)	0.92	(0.95)	2.69
MVF	0.51	0.01	0.01	0.08	0.63	(0.56)	1.12	(0.99)	3.98

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