Nuveen Amt Correlations

NVG Fund

USD 12.39 0.12 0.98%

The current 90-days correlation between Nuveen Amt Free and Nuveen Amt Free Municipal is 0.78 (i.e., 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

Average diversification

The correlation between Nuveen Amt Free 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 Amt Free 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. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Nuveen Fund

0.84	CBURX	Columbia Income Builder	Pair Corr
0.75	ASBFX	Short Term Bond	Pair Corr
0.75	MINFX	Mfs International Value	Pair Corr
0.88	OWCIX	Old Westbury Credit	Pair Corr
0.75	SNGYX	Sit Government Securities	Pair Corr
0.79	JSEAX	Jpmorgan International	Pair Corr
0.88	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.8	WCCFX	Wealthbuilder Conservative	Pair Corr
0.89	TEDPX	Tiaa Cref Emerging	Pair Corr
0.88	RIRFX	Capital Income Builder	Pair Corr
0.74	WATCX	Western Asset Interm	Pair Corr
0.86	CITEX	American High Income	Pair Corr
0.73	PUGCX	Putnam Global Equity	Pair Corr
0.69	LBSAX	Columbia Dividend Income	Pair Corr
0.89	CKKRX	Columbia Income Builder	Pair Corr
0.76	GIGGX	Deutsche Gnma	Pair Corr
0.84	PCCFX	Prudential Income Builder	Pair Corr
0.8	FLRRX	Franklin Low Duration	Pair Corr
0.88	IFACX	Income Fund	Pair Corr
0.87	XSWZX	Swiss Helvetia	Pair Corr
0.79	DURIX	Deutsche European Equity	Pair Corr
0.78	NWJJX	Nationwide Highmark Bond	Pair Corr
0.79	MSPHX	Massmutual Select Total	Pair Corr
0.7	RGLDX	American Funds Global	Pair Corr
0.79	MRDVX	Blackrock Eq Dividend	Pair Corr
0.77	NECRX	Loomis Sayles E	Pair Corr
0.89	RBBCX	Columbia Income Builder	Pair Corr
0.7	IGFAX	Vy Morgan Stanley	Pair Corr
0.84	MCTAX	Massmutual Retiresmart	Pair Corr

Moving against Nuveen Fund

0.57	SMPSX	Semiconductor Ultrasector	Pair Corr
0.53	RSNRX	Victory Global Natural	Pair Corr
0.5	SMPIX	Semiconductor Ultrasector	Pair Corr
0.48	ABQYX	Ab Intermediate Bond	Pair Corr
0.45	RGNCX	Victory Global Natural	Pair Corr
0.44	RSNYX	Victory Global Natural	Pair Corr

Related Correlations Analysis

	NEA	NAD	NMZ	NUV	NZF	MUI	NDMO	MQY	KTF	MYI
NEA		0.97	0.91	0.96	0.9	-0.21	0.83	0.69	0.85	0.78	NEA
NAD	0.97		0.88	0.94	0.88	-0.24	0.83	0.6	0.79	0.79	NAD
NMZ	0.91	0.88		0.94	0.85	-0.25	0.89	0.74	0.75	0.75	NMZ
NUV	0.96	0.94	0.94		0.91	-0.21	0.88	0.76	0.83	0.8	NUV
NZF	0.9	0.88	0.85	0.91		-0.11	0.91	0.58	0.78	0.8	NZF
MUI	-0.21	-0.24	-0.25	-0.21	-0.11		-0.18	-0.13	-0.09	-0.15	MUI
NDMO	0.83	0.83	0.89	0.88	0.91	-0.18		0.65	0.71	0.75	NDMO
MQY	0.69	0.6	0.74	0.76	0.58	-0.13	0.65		0.84	0.75	MQY
KTF	0.85	0.79	0.75	0.83	0.78	-0.09	0.71	0.84		0.87	KTF
MYI	0.78	0.79	0.75	0.8	0.8	-0.15	0.75	0.75	0.87		MYI
	NEA	NAD	NMZ	NUV	NZF	MUI	NDMO	MQY	KTF	MYI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

NAD	+ 0.97	NEA
NUV	+ 0.96	NEA
NUV	+ 0.94	NAD
NUV	+ 0.94	NMZ
NMZ	+ 0.91	NEA
NZF	+ 0.91	NUV

High negative correlations

MUI	- 0.25	NMZ
MUI	- 0.24	NAD
MUI	- 0.21	NUV
MUI	- 0.21	NEA
NDMO	- 0.18	MUI
MYI	- 0.15	MUI

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
NEA	0.34	0.05	0.35	0.99	0.19	(0.46)	0.81	(0.53)	1.62
NAD	0.40	0.05	0.27	0.50	0.33	(0.48)	0.98	(0.76)	2.17
NMZ	0.46	0.07	0.23	0.24	0.45	(0.53)	1.05	(0.80)	2.79
NUV	0.32	0.06	0.33	0.66	0.18	(0.42)	0.94	(0.58)	1.83
NZF	0.42	0.02	0.18	1.78	0.43	(0.56)	0.99	(0.90)	2.30
MUI	0.40	(0.02)	0.00	(0.68)	0.00	0.00	0.58	(1.01)	3.07
NDMO	0.34	0.07	0.31	(7.64)	0.27	(0.40)	0.79	(0.68)	1.77
MQY	0.52	(0.08)	0.00	(0.39)	0.00	0.00	1.04	(1.18)	2.85
KTF	0.38	(0.06)	0.00	(0.75)	0.00	0.00	0.75	(1.03)	2.76
MYI	0.51	(0.02)	0.00	(0.13)	0.00	0.00	0.91	(1.09)	3.13

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