Nuveen Amt-free Correlations

NEA Fund

USD 11.60 0.02 0.17%

The current 90-days correlation between Nuveen Amt Free and Nuveen Municipal Credit is -0.11 (i.e., Good diversification). The correlation of Nuveen Amt-free 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-free Correlation With Market

Significant diversification

The correlation between Nuveen Amt Free Municipal and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Amt Free 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 Amt Free Municipal. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Nuveen Fund

0.76	IIF	Morgan Stanley India	Pair Corr
0.69	UTF	Cohen And Steers	Pair Corr
0.69	IFN	India Closed Downward Rally	Pair Corr
0.75	CCD	Calamos Dynamic Conv	Pair Corr
0.89	VZ	Verizon Communications Aggressive Push	Pair Corr
0.63	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.7	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.74	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Moving against Nuveen Fund

0.43

JPM

JPMorgan Chase Fiscal Year End 10th of January 2025

Pair Corr

Related Correlations Analysis

	NZF	NVG	NUV	NMZ	NAD	NMCO	MVF
NZF		0.9	0.74	0.81	0.88	0.78	0.84	NZF
NVG	0.9		0.76	0.91	0.93	0.82	0.88	NVG
NUV	0.74	0.76		0.65	0.81	0.59	0.63	NUV
NMZ	0.81	0.91	0.65		0.77	0.89	0.81	NMZ
NAD	0.88	0.93	0.81	0.77		0.69	0.83	NAD
NMCO	0.78	0.82	0.59	0.89	0.69		0.88	NMCO
MVF	0.84	0.88	0.63	0.81	0.83	0.88		MVF
	NZF	NVG	NUV	NMZ	NAD	NMCO	MVF

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Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen Amt-free 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-free'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
NZF	0.34	(0.01)	(0.13)	0.04	0.51	(0.36)	0.70	(0.93)	2.47
NVG	0.52	0.02	(0.07)	(1.50)	0.83	(0.49)	1.15	(1.51)	3.38
NUV	0.31	0.00	(0.20)	0.02	0.34	(0.40)	0.78	(0.55)	2.14
NMZ	0.45	0.01	(0.10)	0.23	0.57	(0.52)	1.09	(1.04)	3.17
NAD	0.39	0.01	(0.12)	0.33	0.58	(0.37)	0.74	(0.82)	2.82
NMCO	0.53	(0.03)	0.00	(6.53)	0.00	0.00	1.04	(1.35)	3.99
MVF	0.45	(0.02)	0.00	5.68	0.00	0.00	0.82	(1.06)	2.81

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