Nuveen Nebraska Correlations

NAAFX Fund

USD 9.91 0.02 0.20%

The current 90-days correlation between Nuveen Nebraska Municipal and T Rowe Price is -0.2 (i.e., Good diversification). The correlation of Nuveen Nebraska 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 Nebraska Correlation With Market

Very good diversification

The correlation between Nuveen Nebraska Municipal and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Nebraska Municipal 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 Nebraska 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 census.

Moving together with Nuveen Mutual Fund

0.78	FRKSX	Nuveen Kansas Municipal	Pair Corr
0.96	FAARX	Nuveen All American	Pair Corr
0.96	FAAWX	Nuveen All American	Pair Corr
0.99	FAFPX	Nuveen Missouri Municipal	Pair Corr
0.76	FAFOX	Nuveen Kansas Municipal	Pair Corr
0.74	FAFLX	Nuveen Louisiana Mun	Pair Corr
0.98	FAMTX	Nuveen Minnesota Int	Pair Corr
0.73	FSHAX	Nuveen Short Term	Pair Corr
0.83	FSFRX	Nuveen Strategic Income	Pair Corr
0.98	FAZTX	Nuveen Arizona Municipal	Pair Corr
1.0	NACCX	Nuveen Maryland Municipal	Pair Corr
0.95	NAFOX	Nuveen Oregon Interm	Pair Corr
0.75	FTLAX	Nuveen Louisiana Mun	Pair Corr
0.82	FCBCX	Nuveen Strategic Income	Pair Corr

Moving against Nuveen Mutual Fund

0.31

NWCAX

Nuveen Winslow Large

Pair Corr

Related Correlations Analysis

	RCLIX	PHJFX	AMONX	MSTSX	LBISX	TRBCX
RCLIX		0.4	0.98	0.66	0.95	0.97	RCLIX
PHJFX	0.4		0.34	0.73	0.29	0.33	PHJFX
AMONX	0.98	0.34		0.68	0.96	0.99	AMONX
MSTSX	0.66	0.73	0.68		0.61	0.67	MSTSX
LBISX	0.95	0.29	0.96	0.61		0.91	LBISX
TRBCX	0.97	0.33	0.99	0.67	0.91		TRBCX
	RCLIX	PHJFX	AMONX	MSTSX	LBISX	TRBCX

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Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen Nebraska 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 Nebraska'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
RCLIX	0.53	(0.03)	(0.06)	0.08	0.68	(0.55)	1.10	(1.49)	4.03
PHJFX	0.22	(0.02)	(0.35)	0.02	0.23	(0.26)	0.47	(0.56)	1.22
AMONX	0.70	0.02	0.02	0.14	0.85	(0.73)	1.63	(1.30)	4.55
MSTSX	0.49	(0.03)	(0.12)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBISX	0.57	0.02	0.01	0.13	0.37	(0.68)	1.14	(0.95)	4.72
TRBCX	0.72	0.01	(0.01)	0.13	0.97	(0.68)	1.66	(2.18)	4.86

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