Nuveen Minnesota Correlations

FYMNX Fund

USD 10.88 0.02 0.18%

The current 90-days correlation between Nuveen Minnesota Mun and Deutsche Health And is 0.09 (i.e., Significant diversification). The correlation of Nuveen Minnesota 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 Minnesota Correlation With Market

Very good diversification

The correlation between Nuveen Minnesota Municipal and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Minnesota 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 Minnesota 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 board of governors.

Moving together with Nuveen Mutual Fund

0.87	FAARX	Nuveen All American	Pair Corr
0.86	FAAWX	Nuveen All American	Pair Corr
0.81	FACCX	Nuveen All American	Pair Corr
0.96	FAFPX	Nuveen Missouri Municipal	Pair Corr
0.97	FAMAX	Nuveen Minnesota Int	Pair Corr
0.97	FAMTX	Nuveen Minnesota Int	Pair Corr
0.88	FSHAX	Nuveen Short Term	Pair Corr
0.73	FSFRX	Nuveen Strategic Income	Pair Corr
0.97	FAZTX	Nuveen Arizona Municipal	Pair Corr
0.62	NRIAX	Nuveen Real Asset	Pair Corr
0.61	NRICX	Nuveen Real Asset	Pair Corr
0.62	NRIIX	Nuveen Real Asset	Pair Corr
0.62	NRIFX	Nuveen Real Asset	Pair Corr
0.94	NAAFX	Nuveen Nebraska Municipal	Pair Corr
0.94	NACCX	Nuveen Maryland Municipal	Pair Corr
0.83	NAFOX	Nuveen Oregon Interm	Pair Corr

Related Correlations Analysis

	SCHLX	THQ	BGHDX	HHCZX	BHSRX	AHSCX	XXGRX	RAGHX
SCHLX		0.78	0.83	-0.75	0.99	0.61	0.97	0.98	SCHLX
THQ	0.78		0.82	-0.36	0.79	0.36	0.72	0.77	THQ
BGHDX	0.83	0.82		-0.44	0.85	0.58	0.8	0.84	BGHDX
HHCZX	-0.75	-0.36	-0.44		-0.69	-0.19	-0.77	-0.73	HHCZX
BHSRX	0.99	0.79	0.85	-0.69		0.64	0.97	0.98	BHSRX
AHSCX	0.61	0.36	0.58	-0.19	0.64		0.59	0.58	AHSCX
XXGRX	0.97	0.72	0.8	-0.77	0.97	0.59		0.97	XXGRX
RAGHX	0.98	0.77	0.84	-0.73	0.98	0.58	0.97		RAGHX
	SCHLX	THQ	BGHDX	HHCZX	BHSRX	AHSCX	XXGRX	RAGHX

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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

BHSRX	+ 0.99	SCHLX
RAGHX	+ 0.98	SCHLX
RAGHX	+ 0.98	BHSRX
XXGRX	+ 0.97	SCHLX
XXGRX	+ 0.97	BHSRX
RAGHX	+ 0.97	XXGRX

High negative correlations

XXGRX	- 0.77	HHCZX
HHCZX	- 0.75	SCHLX
RAGHX	- 0.73	HHCZX
BHSRX	- 0.69	HHCZX
HHCZX	- 0.44	BGHDX
HHCZX	- 0.36	THQ

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Minnesota 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 Minnesota'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
SCHLX	0.55	(0.15)	0.00	(0.17)	0.00	0.89	(1.30)	3.08
THQ	0.80	(0.12)	0.00	(0.06)	0.00	1.38	(1.67)	5.19
BGHDX	0.80	(0.13)	0.00	(0.11)	0.00	1.34	(1.69)	6.08
HHCZX	0.16	0.00	(0.41)	0.14	(0.20)	0.37	(0.31)	1.14
BHSRX	0.58	(0.14)	0.00	(0.12)	0.00	0.91	(1.31)	3.39
AHSCX	0.57	(0.07)	0.00	(0.03)	0.00	0.82	(1.25)	4.55
XXGRX	0.62	(0.18)	0.00	(0.17)	0.00	1.01	(1.19)	2.74
RAGHX	0.63	(0.16)	0.00	(0.11)	0.00	0.96	(1.37)	3.33

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