Nuveen North Correlations

Mutual Funds . USA . 
Fund . Nuveen North Carolina
FDCCX Fund  USD 10.07  0.01  0.1%   
The current 90-days correlation between Nuveen North Carolina and Simt High Yield is 0.23 (i.e., Modest diversification). The correlation of Nuveen North 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 North Correlation With Market

Average diversification

The correlation between Nuveen North Carolina and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen North Carolina 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 North Carolina. 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 main economic indicators.

Moving together with Nuveen Mutual Fund

  0.66EMGRX Nuveen Small CapPairCorr
  0.85FREAX Nuveen Real EstatePairCorr
  0.84FREGX Nuveen Real EstatePairCorr
  0.95FRKSX Nuveen Kansas MunicipalPairCorr
  0.84FRLCX Nuveen Real EstatePairCorr
  0.96FAARX Nuveen All AmericanPairCorr
  0.76NQCCX Nuveen Nwq LargePairCorr
  0.72NQCAX Nuveen Nwq LargePairCorr
  0.96FAAWX Nuveen All AmericanPairCorr
  0.71FACSX Nuveen Mid CapPairCorr
  0.98FACCX Nuveen All AmericanPairCorr
  0.72NQCRX Nuveen Nwq LargePairCorr
  0.99FAFPX Nuveen Missouri MunicipalPairCorr
  0.98FAFOX Nuveen Kansas MunicipalPairCorr
  0.99FAFNX Nuveen Michigan MunicipalPairCorr
  0.99FAFMX Nuveen Ohio MunicipalPairCorr
  0.99FAFLX Nuveen Louisiana MunPairCorr
  0.99FAFKX Nuveen Orado MunicipalPairCorr
  0.79FAFJX Nuveen Limited TermPairCorr
  0.91FAMAX Nuveen Minnesota IntPairCorr
  0.96FAMTX Nuveen Minnesota IntPairCorr
  0.69FSCCX First American InvestmentPairCorr
  0.69FSCVX Nuveen Small CapPairCorr
  0.69FSCWX Nuveen Small CapPairCorr
  0.69FSCAX Nuveen Small CapPairCorr
  0.78FAQIX Nuveen Dividend ValuePairCorr
  0.84FARCX Nuveen Real EstatePairCorr
  0.71FASEX Nuveen Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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

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