Nuveen Small Correlations

Mutual Funds . USA . 
Fund . Nuveen Small Cap
FMPFX Fund  USD 37.14  0.25  0.67%   
The current 90-days correlation between Nuveen Small Cap and Nuveen Mid Cap is -0.02 (i.e., Good diversification). The correlation of Nuveen Small 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 Small Correlation With Market

Very poor diversification

The correlation between Nuveen Small Cap and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Small 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 Small 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 census.

Moving together with Nuveen Mutual Fund

  0.63EMGRX Nuveen Small CapPairCorr
  0.67NPSAX Nuveen Preferred SecPairCorr
  0.74NPSFX Nuveen Preferred SecPairCorr
  0.66NPSCX Nuveen Preferred SecPairCorr
  0.67NPSRX Nuveen Preferred SecPairCorr
  0.64FRKSX Nuveen Kansas MunicipalPairCorr
  0.66FRMPX Nuveen Small CapPairCorr
  1.0FRSLX Nuveen Mid CapPairCorr
  0.99NQCCX Nuveen Nwq LargePairCorr
  0.99NQCAX Nuveen Nwq LargePairCorr
  0.63FACSX Nuveen Mid CapPairCorr
  0.99NQCRX Nuveen Nwq LargePairCorr
  0.99NQGCX Nuveen Nwq GlobalPairCorr
  0.99NQGAX Nuveen Nwq GlobalPairCorr
  0.95FAFJX Nuveen Limited TermPairCorr
  0.99NQGIX Nuveen Nwq GlobalPairCorr
  0.91FAMAX Nuveen Minnesota IntPairCorr
  0.9FAMTX Nuveen Minnesota IntPairCorr
  0.97FSCVX Nuveen Small CapPairCorr
  0.64FSCWX Nuveen Small CapPairCorr
  0.64FSCAX Nuveen Small CapPairCorr
  0.99FAQIX Nuveen Dividend ValuePairCorr
  0.98FASEX Nuveen Mid CapPairCorr
  0.96FSHAX Nuveen Short TermPairCorr
  0.63NQVAX Nuveen Nwq MultiPairCorr
  0.98NQVCX Nuveen Nwq MultiPairCorr
  0.96FSHYX Nuveen Short TermPairCorr
  0.98NQVRX Nuveen Nwq MultiPairCorr
  0.98NQWFX Nuveen Nwq FlexiblePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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