Nuveen California Correlations
| NAC Fund | USD 10.97 0.02 0.18% |
The current 90-days correlation between Nuveen California and Nuveen California Amt is 0.67 (i.e., Poor diversification). The correlation of Nuveen California 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.
Nuveen California Correlation With Market
Weak diversification
The correlation between Nuveen California Dividend and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen California Dividend and DJI in the same portfolio, assuming nothing else is changed.
Nuveen |
Moving together with Nuveen Fund
| 0.64 | BTO | John Hancock Financial | PairCorr |
| 0.76 | TDF | Templeton Dragon Closed | PairCorr |
| 0.76 | RNP | Cohen Steers Reit | PairCorr |
| 0.73 | IOFAX | Alphacentric Income | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Nuveen Fund performing well and Nuveen California 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 California'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NKX | 0.54 | (0.13) | 0.00 | (2.64) | 0.00 | 0.85 | 3.82 | |||
| NCA | 0.55 | (0.03) | 0.00 | (0.15) | 0.00 | 1.33 | 2.95 | |||
| MUC | 0.61 | (0.05) | 0.00 | (0.15) | 0.00 | 1.19 | 6.01 | |||
| VCV | 0.82 | (0.05) | 0.00 | (0.18) | 0.00 | 1.82 | 7.32 | |||
| BFZ | 0.71 | (0.03) | 0.00 | (0.14) | 0.00 | 1.24 | 4.68 |