Nuveen Mid Correlations

Mutual Funds . USA . 
Fund . Nuveen Mid Cap
FACSX Fund  USD 56.74  0.12  0.21%   
The current 90-days correlation between Nuveen Mid Cap and Fidelity Low Priced Stock is 0.94 (i.e., Almost no diversification). The correlation of Nuveen Mid 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 Mid Correlation With Market

Almost no diversification

The correlation between Nuveen Mid Cap and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Mid Cap 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 Mid Cap. 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 state.

Moving together with Nuveen Mutual Fund

  0.98EMGRX Nuveen Small CapPairCorr
  0.96FRMPX Nuveen Small CapPairCorr
  0.97FRSLX Nuveen Mid CapPairCorr
  0.96NQCCX Nuveen Nwq LargePairCorr
  0.96NQCAX Nuveen Nwq LargePairCorr
  0.96NQCRX Nuveen Nwq LargePairCorr
  0.61NQGCX Nuveen Nwq GlobalPairCorr
  0.63NQGAX Nuveen Nwq GlobalPairCorr
  0.64NQGIX Nuveen Nwq GlobalPairCorr
  0.95FSCCX First American InvestmentPairCorr
  0.95FSCVX Nuveen Small CapPairCorr
  0.95FSCWX Nuveen Small CapPairCorr
  0.95FSCAX Nuveen Small CapPairCorr
  1.0FSEIX Nuveen Mid CapPairCorr
  0.98FAQIX Nuveen Dividend ValuePairCorr
  1.0FASEX Nuveen Mid CapPairCorr

Moving against Nuveen Mutual Fund

  0.63FAFJX Nuveen Limited TermPairCorr
  0.6FAFMX Nuveen Ohio MunicipalPairCorr
  0.54FAFLX Nuveen Louisiana MunPairCorr
  0.51FAFOX Nuveen Kansas MunicipalPairCorr
  0.47FRKSX Nuveen Kansas MunicipalPairCorr
  0.36FACCX Nuveen All AmericanPairCorr
  0.66FALTX Nuveen Short TermPairCorr
  0.5FTLRX Nuveen Louisiana MunPairCorr
  0.37FSFRX Nuveen Strategic IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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