Nuveen All-american Correlations

FAAWX Fund

USD 10.16 0.01 0.1%

The current 90-days correlation between Nuveen All American and Goldman Sachs High is 0.01 (i.e., Significant diversification). The correlation of Nuveen All-american 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 All-american Correlation With Market

Good diversification

The correlation between Nuveen All American Municipal and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen All American Municipal and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Nuveen All American 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 housing.

Moving together with Nuveen Mutual Fund

0.9	VWLTX	Vanguard Long Term	Pair Corr
0.89	VWAHX	Vanguard High Yield	Pair Corr
1.0	VWALX	Vanguard High Yield	Pair Corr
1.0	FSMUX	Strategic Advisers	Pair Corr
0.99	VWLUX	Vanguard Long Term	Pair Corr
0.89	FAFTX	Franklin Federal Tax	Pair Corr
0.92	FFTQX	Franklin Federal Tax	Pair Corr
0.91	FKTIX	Franklin Federal Tax	Pair Corr
0.99	FRFTX	Franklin Federal Tax	Pair Corr
0.99	FFQAX	Franklin Federal Tax	Pair Corr
0.68	BRUFX	Bruce Fund Bruce	Pair Corr
0.62	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.76	PG	Procter Gamble	Pair Corr
0.75	HD	Home Depot	Pair Corr

Moving against Nuveen Mutual Fund

0.74	XGEIX	Guggenheim Energy Income	Pair Corr
0.45	RYMEX	Commodities Strategy	Pair Corr
0.45	RYMJX	Commodities Strategy	Pair Corr
0.43	RYMBX	Commodities Strategy	Pair Corr
0.38	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.36	BA	Boeing	Pair Corr

Related Correlations Analysis

	GFRRX	BXHCX	AQRRX	RHYAX	SGYAX	IRONX	GULDX
GFRRX		0.75	0.68	0.74	0.85	0.43	0.45	GFRRX
BXHCX	0.75		0.85	0.93	0.81	0.74	0.25	BXHCX
AQRRX	0.68	0.85		0.89	0.83	0.77	0.34	AQRRX
RHYAX	0.74	0.93	0.89		0.84	0.7	0.32	RHYAX
SGYAX	0.85	0.81	0.83	0.84		0.48	0.59	SGYAX
IRONX	0.43	0.74	0.77	0.7	0.48		-0.05	IRONX
GULDX	0.45	0.25	0.34	0.32	0.59	-0.05		GULDX
	GFRRX	BXHCX	AQRRX	RHYAX	SGYAX	IRONX	GULDX

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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

RHYAX	+ 0.93	BXHCX
RHYAX	+ 0.89	AQRRX
SGYAX	+ 0.85	GFRRX
AQRRX	+ 0.85	BXHCX
SGYAX	+ 0.84	RHYAX
SGYAX	+ 0.83	AQRRX

High negative correlations

GULDX

- 0.05

IRONX

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen All-american 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 All-american'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
GFRRX	0.07	0.02	(0.60)	(0.78)	0.00	(0.27)	0.11	(0.11)	0.69
BXHCX	0.12	0.02	(0.29)	(1.58)	0.00	(0.20)	0.37	(0.25)	1.11
AQRRX	0.43	0.05	(0.03)	0.34	0.46	(0.51)	0.93	(0.86)	3.04
RHYAX	0.10	0.02	(0.31)	0.77	0.00	(0.15)	0.21	(0.21)	0.72
SGYAX	0.15	0.02	(0.33)	0.75	0.00	(0.26)	0.56	(0.28)	1.27
IRONX	0.49	0.01	(0.07)	0.13	0.69	(0.53)	0.82	(1.12)	4.63
GULDX	0.07	0.00	(0.88)	0.00	0.00	(0.13)	0.46	(0.10)	0.76

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