Nuveen Santa Correlations

Mutual Funds . USA . 
Fund . Nuveen Santa Barbara
NUGCX Fund  USD 36.11  0.15  0.41%   
The current 90-days correlation between Nuveen Santa Barbara and Intermediate Term Tax Free Bond is 0.1 (i.e., Average diversification). The correlation of Nuveen Santa 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 Santa Correlation With Market

Significant diversification

The correlation between Nuveen Santa Barbara and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Santa Barbara 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 Santa Barbara. 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 main economic indicators.

Moving together with Nuveen Mutual Fund

  0.69EMGRX Nuveen Small CapPairCorr
  0.67NPSAX Nuveen Preferred SecPairCorr
  0.67NPSFX Nuveen Preferred SecPairCorr
  0.67NPSCX Nuveen Preferred SecPairCorr
  0.67NPSRX Nuveen Preferred SecPairCorr
  0.69FRMPX Nuveen Small CapPairCorr
  0.98FRSLX Nuveen Mid CapPairCorr
  0.7NQCCX Nuveen Nwq LargePairCorr
  0.96NQCAX Nuveen Nwq LargePairCorr
  0.66FACSX Nuveen Mid CapPairCorr
  0.96NQCRX Nuveen Nwq LargePairCorr
  0.65NQGCX Nuveen Nwq GlobalPairCorr
  0.65NQGAX Nuveen Nwq GlobalPairCorr
  0.92FAFJX Nuveen Limited TermPairCorr
  0.65NQGIX Nuveen Nwq GlobalPairCorr
  0.87FAMAX Nuveen Minnesota IntPairCorr
  0.65FAMTX Nuveen Minnesota IntPairCorr
  0.69FSCCX First American InvestmentPairCorr
  0.68FSCVX Nuveen Small CapPairCorr
  0.69FSCWX Nuveen Small CapPairCorr
  0.69FSCAX Nuveen Small CapPairCorr
  0.66FSEIX Nuveen Mid CapPairCorr
  0.97FAQIX Nuveen Dividend ValuePairCorr
  0.97FASEX Nuveen Mid CapPairCorr
  0.72FSHAX Nuveen Short TermPairCorr
  0.66FSFRX Nuveen Strategic IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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