Nuveen New Jersey Quality Municipal Income Fund (NXJ) Correlation Distribution
Across 6,809 rolling correlation observations between Nuveen New Jersey Quality Municipal Income Fund (NXJ) and other NASDAQ-listed stocks, 70.2% are positive and 29.8% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.319, indicating a clearly positive co-movement bias. Strong positive correlations (≥0.7) account for 31.9% and strong negative correlations (≤−0.7) for 1.1%.
- Total observations
- 6,809
- Mean correlation
- 0.319
- Most common range
- 0.7 to 0.8
- Positive pairs
- 70.2%
- Strong positive (≥0.7)
- 31.9%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 39 | 0.6% | |
| -0.8 to -0.7 | 39 | 0.6% | |
| -0.7 to -0.6 | 208 | 3.1% | |
| -0.6 to -0.5 | 207 | 3.0% | |
| -0.5 to -0.4 | 329 | 4.8% | |
| -0.4 to -0.3 | 329 | 4.8% | |
| -0.3 to -0.2 | 308 | 4.5% | |
| -0.2 to -0.1 | 307 | 4.5% | |
| -0.1 to 0.0 | 260 | 3.8% | |
| 0.0 to 0.1 | 260 | 3.8% | |
| 0.1 to 0.2 | 257 | 3.8% | |
| 0.2 to 0.3 | 257 | 3.8% | |
| 0.3 to 0.4 | 341 | 5.0% | |
| 0.4 to 0.5 | 341 | 5.0% | |
| 0.5 to 0.6 | 579 | 8.5% | |
| 0.6 to 0.7 | 578 | 8.5% | |
| 0.7 to 0.8 | 882 | 13.0% | |
| 0.8 to 0.9 | 882 | 13.0% | |
| 0.9 to 1.0 | 406 | 6.0% |
Frequently asked questions
What is the average correlation of NXJ?
Nuveen New Jersey Quality Municipal Income Fund (NXJ) has an average correlation of about 0.319 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is NXJ positively correlated with other stocks?
Mostly yes — 70.2% of pairs are positive and 29.8% are negative. Strong positive correlations (≥0.7) make up 31.9%.
What is the most common correlation range for NXJ?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 24.2% of all pairs.
Explore the full interactive correlation distribution for NXJ.
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