Nuveen Missouri Correlations

Mutual Funds . USA . 
Fund . Nuveen Missouri Municipal
FMOTX Fund  USD 10.64  0.05  0.47%   
The current 90-days correlation between Nuveen Missouri Municipal and Maryland Tax Free Bond is 0.9 (i.e., Almost no diversification). The correlation of Nuveen Missouri 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 Missouri Correlation With Market

Very good diversification

The correlation between Nuveen Missouri Municipal 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 Missouri Municipal 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 Missouri Municipal. 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 estimate.

Moving together with Nuveen Mutual Fund

  0.72FRKSX Nuveen Kansas MunicipalPairCorr
  0.94FAARX Nuveen All AmericanPairCorr
  0.95FAAWX Nuveen All AmericanPairCorr
  0.91FACCX Nuveen All AmericanPairCorr
  0.99FAFPX Nuveen Missouri MunicipalPairCorr
  0.71FAFOX Nuveen Kansas MunicipalPairCorr
  0.68FAFLX Nuveen Louisiana MunPairCorr
  0.99FAFKX Nuveen Orado MunicipalPairCorr
  0.99FAMAX Nuveen Minnesota IntPairCorr
  0.98FAMTX Nuveen Minnesota IntPairCorr
  0.84FSHAX Nuveen Short TermPairCorr
  0.8FSFRX 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 Missouri 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 Missouri'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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