Projected Return Density against Market
Considering 30-days investment horizon, Nuveen Premium Income Municipal Fund 2 Inc has beta of -0.02 indicating as returns on benchmark increase, returns on holding Nuveen are expected to decrease at a much smaller rate. During bear market, however, Nuveen Premium Income Municipal Fund 2 Inc is likely to outperform the market. Additionally, Nuveen Premium Income Municipal Fund 2 Inc has negative alpha implying that risk taken by holding this securing is not justified. The company is significantly underperforming S&P 500
Predicted Return Density
Considering 30-days investment horizon, the coefficient of variation of Nuveen is -346.27. The daily returns are destributed with a variance of 0.23 and standard deviation of 0.48. The mean deviation of Nuveen Premium Income Municipal Fund 2 Inc is currently at 0.36. For similar time horizon, the selected benchmark (S&P 500) has volatility of 0.57
Actual Return Volatility
Nuveen Premium Income Municipal Fund 2 Inc has volatility of 0.48%
on return distribution over 30 days investment horizon. S&P 500 shows 0.57% volatility of returns over 30 trading days.