Nuveen Massachusetts Correlations

Mutual Funds . USA . 
Fund . Nuveen Massachusetts Municipal
NMAAX Fund  USD 9.06  0.03  0.33%   
The current 90-days correlation between Nuveen Massachusetts and Morgan Stanley Government is 0.68 (i.e., Poor diversification). The correlation of Nuveen Massachusetts 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 Massachusetts Correlation With Market

Average diversification

The correlation between Nuveen Massachusetts Municipal and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Massachusetts 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 Massachusetts 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 nation.

Moving together with Nuveen Mutual Fund

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  0.9FRKSX Nuveen Kansas MunicipalPairCorr
  0.67FRLCX Nuveen Real EstatePairCorr
  0.94FAARX Nuveen All AmericanPairCorr
  0.94FAAWX Nuveen All AmericanPairCorr
  0.97FACCX Nuveen All AmericanPairCorr
  0.98FAFPX Nuveen Missouri MunicipalPairCorr
  0.94FAFOX Nuveen Kansas MunicipalPairCorr
  0.98FAFNX Nuveen Michigan MunicipalPairCorr
  0.98FAFMX Nuveen Ohio MunicipalPairCorr
  0.96FAFLX Nuveen Louisiana MunPairCorr
  0.98FAFKX Nuveen Orado MunicipalPairCorr
  0.76FAFJX Nuveen Limited TermPairCorr
  0.88FAMAX Nuveen Minnesota IntPairCorr
  0.86FAMTX Nuveen Minnesota IntPairCorr
  0.66FARCX Nuveen Real EstatePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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