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We study the Nernst effect in fluctuating superconductors by calculating thetransport coefficient $\alpha_{xy}$ in a phenomenological model where relativeimportance of phase and amplitude fluctuations of the order parameter is tunedcontinuously to smoothly evolve from an effective XY model to more conventionalGinzburg-Landau description. To connect with a concrete experimentalrealization we choose the model parameters appropriate for cupratesuperconductors and calculate $\alpha_{xy}$ and the magnetization ${\bf M}$over the entire range of experimentally accessible values of field, temperatureand doping. We argue that $\alpha_{xy}$ and ${\bf M}$ are both determined bythe equilibrium properties of the superconducting fluctuations (and not theirdynamics) despite the former being a transport quantity. Thus, theexperimentally observed correlation between the Nernst signal and themagnetization arises primarily from the correlation between $\alpha_{xy}$ and${\bf M}$. Further, there exists a dimensionless ratio ${\bf M}/(T\alpha_{xy})$ that quantifies this correlation. We calculate, for the firsttime, this ratio over the entire phase diagram of the cuprates and find itagrees with previous results obtained in specific parts of the phase diagram.We conclude that that there appears to be no sharp distinction between theregimes dominated by phase fluctuations and Gaussian fluctuations for thisratio in contrast to $\alpha_{xy}$ and ${\bf M}$ individually. The utility ofthis ratio is that it can be used to determine the extent to whichsuperconducting fluctuations contribute to the Nernst effect in different partsof the phase diagram given the measured values of magnetization.

The correlation between the Nernst effect and fluctuation diamagnetism in strongly fluctuating superconductors