Asset Comparison and Correlation
|S&P 500 vs Nuveen California Dividend Adv|
Assuming 30 trading days horizon, S&P 500 is expected to generate 0.79 times more return on investment than Nuveen. However, S&P 500 is 1.26 times less risky than Nuveen. It trades about -0.05 of its potential returns per unit of risk. Nuveen California Dividend Advantage Municipal Fund is currently generating about -0.42 per unit of risk. If you would invest 166,916 in S&P 500 on May 20, 2013 and sell it today you would lose (1,735) from holding S&P 500 or give up 1.04% of portfolio value over 30 days.
Match-ups for SP 500
Over the last 30 days Nuveen California Dividend Advantage Municipal Fund has generated negative risk-adjusted returns adding no value to investors with long positions.
Match-ups for Nuveen