Nuveen Kansas Correlations

FAFOX Fund

USD 9.93 0.02 0.20%

The current 90-days correlation between Nuveen Kansas Municipal and Fidelity Sai Convertible is 0.19 (i.e., Average diversification). The correlation of Nuveen Kansas 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 Kansas Correlation With Market

Good diversification

The correlation between Nuveen Kansas Municipal and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Kansas 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 Kansas 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 persons.

Moving together with Nuveen Mutual Fund

0.86	TFBIX	Maryland Tax Free	Pair Corr
0.75	MDXBX	Maryland Tax Free	Pair Corr
0.88	PRVAX	Virginia Tax Free	Pair Corr
0.87	TFBVX	Virginia Tax Free	Pair Corr
0.88	FOFZX	Franklin Oregon Tax	Pair Corr
0.88	FOFRX	Franklin Oregon Tax	Pair Corr
0.88	FRMZX	Franklin Missouri Tax	Pair Corr
0.88	FMOQX	Franklin Missouri Tax	Pair Corr
0.88	FRORX	Franklin Oregon Tax	Pair Corr
0.9	FORIX	Franklin Oregon Tax	Pair Corr
0.72	BRUFX	Bruce Fund Bruce	Pair Corr
0.77	TRV	The Travelers Companies	Pair Corr
0.82	PG	Procter Gamble	Pair Corr
0.63	AA	Alcoa Corp	Pair Corr
0.86	VZ	Verizon Communications	Pair Corr

Moving against Nuveen Mutual Fund

0.53	RYMEX	Commodities Strategy	Pair Corr
0.53	RYMJX	Commodities Strategy	Pair Corr
0.51	RYMBX	Commodities Strategy	Pair Corr
0.43	BA	Boeing	Pair Corr
0.43	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	FSAWX	ARBOX	LCFYX	GCV	XNCVX	VAADX	PBXIX
FSAWX		-0.32	0.7	0.75	0.41	0.67	0.03	FSAWX
ARBOX	-0.32		0.27	0.15	0.41	0.21	0.7	ARBOX
LCFYX	0.7	0.27		0.93	0.86	0.94	0.67	LCFYX
GCV	0.75	0.15	0.93		0.81	0.91	0.55	GCV
XNCVX	0.41	0.41	0.86	0.81		0.94	0.88	XNCVX
VAADX	0.67	0.21	0.94	0.91	0.94		0.72	VAADX
PBXIX	0.03	0.7	0.67	0.55	0.88	0.72		PBXIX
	FSAWX	ARBOX	LCFYX	GCV	XNCVX	VAADX	PBXIX

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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

VAADX	+ 0.94	LCFYX
VAADX	+ 0.94	XNCVX
GCV	+ 0.93	LCFYX
VAADX	+ 0.91	GCV
PBXIX	+ 0.88	XNCVX
XNCVX	+ 0.86	LCFYX

High negative correlations

ARBOX

- 0.32

FSAWX

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Kansas 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 Kansas' 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
FSAWX	0.08	0.03	(0.56)	3.49	0.00	(0.13)	0.19	(0.10)	0.38
ARBOX	0.06	(0.01)	(0.17)	(0.17)	0.18	(0.09)	0.09	(0.09)	1.33
LCFYX	0.55	0.08	0.02	0.42	0.57	(0.65)	1.12	(1.03)	3.79
GCV	0.99	0.10	0.03	0.32	1.16	(1.05)	1.89	(1.55)	5.96
XNCVX	0.63	0.06	(0.03)	5.91	0.78	(0.72)	1.29	(1.26)	4.08
VAADX	0.60	0.09	0.01	1.84	0.67	(0.69)	1.19	(0.97)	4.02
PBXIX	0.40	0.01	(0.13)	0.54	0.55	(0.40)	0.81	(0.80)	3.28

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