Municipal Total Correlations

Mutual Funds . USA . 
Fund . Municipal Total Return
NMTRX Fund  USD 9.67  0.03  0.31%   
The current 90-days correlation between Municipal Total Return and Enhanced Large Pany is 0.15 (i.e., Average diversification). The correlation of Municipal Total 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.

Municipal Total Correlation With Market

Average diversification

The correlation between Municipal Total Return and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Municipal Total Return 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 Municipal Total Return. 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 metropolitan statistical area.

Moving together with Municipal Mutual Fund

  0.92FRKSX Nuveen Kansas MunicipalPairCorr
  0.96FAARX Nuveen All AmericanPairCorr
  0.96FAAWX Nuveen All AmericanPairCorr
  0.87FACCX Nuveen All AmericanPairCorr
  0.88FAFPX Nuveen Missouri MunicipalPairCorr
  0.84FAFOX Nuveen Kansas MunicipalPairCorr
  0.83FAFNX Nuveen Michigan MunicipalPairCorr
  0.96FAFMX Nuveen Ohio MunicipalPairCorr
  0.85FAFLX Nuveen Louisiana MunPairCorr
  0.97FAFKX Nuveen Orado MunicipalPairCorr
  0.71FAMAX Nuveen Minnesota IntPairCorr
  0.75FAMTX Nuveen Minnesota IntPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Municipal Mutual Fund performing well and Municipal Total 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 Municipal Total'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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