Nuveen Municipal Correlations

XNMZX Fund

USD 11.43 0.00 0.00%

The current 90-days correlation between Nuveen Municipal High and T Rowe Price is 0.31 (i.e., Weak diversification). The correlation of Nuveen Municipal 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 Municipal Correlation With Market

Very good diversification

The correlation between Nuveen Municipal High and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Municipal High and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Nuveen Municipal High. 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 nation.

Moving together with Nuveen Mutual Fund

0.76	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.79	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against Nuveen Mutual Fund

0.78	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.73	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.7	VFIAX	Vanguard 500 Index	Pair Corr
0.7	VFINX	Vanguard 500 Index	Pair Corr
0.69	HPQ	HP Inc	Pair Corr
0.68	VITSX	Vanguard Total Stock	Pair Corr
0.68	VFFSX	Vanguard 500 Index	Pair Corr
0.67	VTSAX	Vanguard Total Stock	Pair Corr
0.67	VTSMX	Vanguard Total Stock	Pair Corr
0.67	VSTSX	Vanguard Total Stock	Pair Corr
0.67	VSMPX	Vanguard Total Stock	Pair Corr
0.63	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.59	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.54	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.49	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.49	WMT	Walmart Aggressive Push	Pair Corr
0.44	DIS	Walt Disney Aggressive Push	Pair Corr
0.37	HD	Home Depot	Pair Corr

Related Correlations Analysis

	PAHIX	ARTFX	PKHIX	LHYOX	PHDTX	GHVIX	SGYAX
PAHIX		0.79	0.8	0.82	0.79	0.88	0.64	PAHIX
ARTFX	0.79		0.94	0.96	0.96	0.85	0.94	ARTFX
PKHIX	0.8	0.94		0.97	0.93	0.88	0.91	PKHIX
LHYOX	0.82	0.96	0.97		0.94	0.9	0.92	LHYOX
PHDTX	0.79	0.96	0.93	0.94		0.91	0.92	PHDTX
GHVIX	0.88	0.85	0.88	0.9	0.91		0.77	GHVIX
SGYAX	0.64	0.94	0.91	0.92	0.92	0.77		SGYAX
	PAHIX	ARTFX	PKHIX	LHYOX	PHDTX	GHVIX	SGYAX

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Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Municipal 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 Municipal'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PAHIX	0.12	0.00	(0.57)	0.11	(0.24)	0.34	(0.17)	1.02
ARTFX	0.12	0.03	(0.54)	0.62	(0.20)	0.33	(0.22)	1.01
PKHIX	0.11	0.02	(0.48)	(1.46)	(0.19)	0.34	(0.22)	0.90
LHYOX	0.13	0.03	(0.44)	9.50	(0.21)	0.31	(0.16)	0.93
PHDTX	0.09	0.02	(0.58)	2.78	(0.15)	0.23	(0.11)	0.56
GHVIX	0.13	0.02	(0.47)	1.26	(0.17)	0.23	(0.28)	0.72
SGYAX	0.14	0.04	(0.47)	(0.81)	(0.25)	0.28	(0.14)	1.28

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