Nuveen Virginia Correlations

NPV Fund

USD 13.27 0.10 0.75%

The current 90-days correlation between Nuveen Virginia Quality and First Eagle Alternative is 0.13 (i.e., Average diversification). The correlation of Nuveen Virginia 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 Virginia Correlation With Market

Significant diversification

The correlation between Nuveen Virginia Quality 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 Virginia Quality 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 Virginia Quality. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Nuveen Fund

0.78	CLM	Cornerstone Strategic	Pair Corr
0.84	CRF	Cornerstone Strategic	Pair Corr
0.86	ETV	Eaton Vance Tax	Pair Corr
0.86	ETJ	Eaton Vance Risk	Pair Corr
0.62	GAB	Gabelli Equity Trust	Pair Corr
0.88	ETY	Eaton Vance Tax	Pair Corr
0.75	ADX	Adams Diversified Equity	Pair Corr
0.85	RIV	Rivernorth Opportunities	Pair Corr
0.75	TIMVX	Tiaa-cref Mid-cap	Pair Corr
0.67	BPTRX	Baron Partners	Pair Corr
0.89	PHK	Pimco High Income	Pair Corr
0.64	PHYRX	High Yield Fund	Pair Corr
0.71	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.81	SLGYX	Large Capitalization	Pair Corr
0.82	FAGCX	Fidelity Advisor Growth	Pair Corr
0.89	PFN	Pimco Income Strategy	Pair Corr
0.78	AVEMX	Ave Maria Value	Pair Corr
0.68	FSDAX	Defense And Aerospace	Pair Corr
0.77	VWENX	Vanguard Wellington	Pair Corr
0.87	TNHRX	1290 High Yield	Pair Corr
0.78	VCBCX	Blue Chip Growth	Pair Corr
0.82	VFINX	Vanguard 500 Index	Pair Corr
0.79	FSPGX	Fidelity Large Cap	Pair Corr
0.66	PDI	Pimco Dynamic Income	Pair Corr
0.82	VIIIX	Vanguard Institutional	Pair Corr
0.71	FSCSX	Software And It	Pair Corr
0.7	RPGRX	T Rowe Price	Pair Corr
0.82	VFIAX	Vanguard 500 Index	Pair Corr
0.74	VDAFX	Dynamic Allocation	Pair Corr
0.75	MSSGX	Small Pany Growth Steady Growth	Pair Corr
0.81	RFNFX	American Funds Funda	Pair Corr
0.7	FSPTX	Technology Portfolio	Pair Corr
0.9	RULFX	Rbc Ultra Short	Pair Corr
0.7	TRPIX	T Rowe Price	Pair Corr
0.82	GTEYX	Gateway Fund Class	Pair Corr
0.8	GOPIX	Aberdeen China Oppty	Pair Corr

Moving against Nuveen Fund

0.77

GUT

Gabelli Utility Closed

Pair Corr

Related Correlations Analysis

	FCRD	BBXIA	JSD	HFRO-PA	MFV	INSI	EGF	EOT	NNY	NXC
FCRD		-0.82	0.16	0.11	-0.04	0.68	-0.31	-0.06	-0.5	-0.38	FCRD
BBXIA	-0.82		-0.26	0.03	-0.04	-0.42	0.43	0.06	0.66	0.55	BBXIA
JSD	0.16	-0.26		-0.69	0.84	-0.17	-0.19	-0.76	-0.76	-0.79	JSD
HFRO-PA	0.11	0.03	-0.69		-0.71	0.51	-0.08	0.76	0.52	0.67	HFRO-PA
MFV	-0.04	-0.04	0.84	-0.71		-0.32	0.04	-0.71	-0.58	-0.66	MFV
INSI	0.68	-0.42	-0.17	0.51	-0.32		-0.19	0.17	0.05	0.16	INSI
EGF	-0.31	0.43	-0.19	-0.08	0.04	-0.19		0.13	0.37	0.28	EGF
EOT	-0.06	0.06	-0.76	0.76	-0.71	0.17	0.13		0.58	0.67	EOT
NNY	-0.5	0.66	-0.76	0.52	-0.58	0.05	0.37	0.58		0.86	NNY
NXC	-0.38	0.55	-0.79	0.67	-0.66	0.16	0.28	0.67	0.86		NXC
	FCRD	BBXIA	JSD	HFRO-PA	MFV	INSI	EGF	EOT	NNY	NXC

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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

NXC	+ 0.86	NNY
MFV	+ 0.84	JSD
EOT	+ 0.76	HFRO-PA
INSI	+ 0.68	FCRD
NXC	+ 0.67	HFRO-PA
NXC	+ 0.67	EOT

High negative correlations

BBXIA	- 0.82	FCRD
NXC	- 0.79	JSD
NNY	- 0.76	JSD
EOT	- 0.76	JSD
EOT	- 0.71	MFV
MFV	- 0.71	HFRO-PA

Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen Virginia 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 Virginia'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
FCRD	1.00	0.13	0.00	(2.87)	1.17	(1.14)	2.46	(1.90)	7.30
BBXIA	0.32	(0.10)	0.00	(9.36)	0.00	0.00	0.65	(1.00)	2.76
JSD	0.38	(0.02)	(0.25)	(0.13)	0.47	(0.45)	0.71	(0.95)	2.02
HFRO-PA	0.62	(0.01)	0.00	0.32	0.00	0.00	1.38	(1.47)	4.44
MFV	0.68	(0.04)	0.00	(0.20)	0.00	0.00	1.95	(1.21)	4.79
INSI	0.60	0.05	(0.08)	1.21	0.67	(0.70)	1.25	(1.39)	6.63
EGF	0.92	(0.04)	(0.06)	0.04	1.36	(0.95)	1.84	(2.68)	7.72
EOT	0.35	0.00	(0.25)	0.04	0.42	(0.41)	0.75	(0.87)	2.08
NNY	0.26	(0.02)	0.00	(0.36)	0.00	0.00	0.70	(0.59)	1.67
NXC	0.45	(0.03)	0.00	(2.40)	0.00	0.00	0.94	(0.94)	2.82

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