Nuveen Floating Correlations

JFR Fund

USD 8.42 0.01 0.12%

The correlation of Nuveen Floating 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 Floating Correlation With Market

Good diversification

The correlation between Nuveen Floating Rate and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Floating Rate and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Nuveen Floating Rate. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving against Nuveen Fund

0.76	EBSIX	Campbell Systematic Macro	Pair Corr
0.69	DBIWX	Dws Global Macro	Pair Corr
0.69	DLDFX	Destinations Low Duration	Pair Corr
0.64	GIOIX	Guggenheim Macro Opp	Pair Corr
0.64	HWACX	Hotchkis Wiley Value	Pair Corr
0.61	HTD	John Hancock Tax	Pair Corr
0.61	UTF	Cohen And Steers	Pair Corr
0.58	SGDLX	Sprott Gold Equity	Pair Corr
0.57	KF	Korea Closed	Pair Corr
0.56	ARBOX	Absolute Convertible	Pair Corr
0.56	PGLSX	Global Multi Strategy	Pair Corr
0.56	BISMX	Brandes International	Pair Corr
0.55	ABNOX	Ab Bond Inflation	Pair Corr
0.54	HRBDX	Harbor Bond Fund	Pair Corr
0.53	VICSX	Vanguard Intermediate-ter	Pair Corr
0.45	RYMEX	Commodities Strategy	Pair Corr
0.45	RYMBX	Commodities Strategy	Pair Corr
0.45	BRUFX	Bruce Fund Bruce	Pair Corr
0.44	RYMJX	Commodities Strategy	Pair Corr
0.41	USGDX	Morgan Stanley Government	Pair Corr
0.32	TIMUX	Transamerica Intermediate	Pair Corr

Related Correlations Analysis

	NSL	AFT	PHD	BGT	JRO	MUI	EVF	EVV	FTF
NSL		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NSL
AFT	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AFT
PHD	0.0	0.0		0.46	0.0	0.14	0.71	0.35	0.51	PHD
BGT	0.0	0.0	0.46		0.0	-0.16	0.16	0.2	0.01	BGT
JRO	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	JRO
MUI	0.0	0.0	0.14	-0.16	0.0		0.22	-0.07	0.0	MUI
EVF	0.0	0.0	0.71	0.16	0.0	0.22		0.2	0.38	EVF
EVV	0.0	0.0	0.35	0.2	0.0	-0.07	0.2		0.76	EVV
FTF	0.0	0.0	0.51	0.01	0.0	0.0	0.38	0.76		FTF
	NSL	AFT	PHD	BGT	JRO	MUI	EVF	EVV	FTF

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FTF	+ 0.76	EVV
EVF	+ 0.71	PHD
FTF	+ 0.51	PHD
BGT	+ 0.46	PHD
FTF	+ 0.38	EVF
EVV	+ 0.35	PHD

High negative correlations

MUI	- 0.16	BGT
EVV	- 0.07	MUI
FTF	- 0.0	MUI
FTF	- 0.0	JRO
EVV	- 0.0	JRO
EVF	- 0.0	JRO

Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen Floating 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 Floating'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NSL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AFT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PHD	0.25	(0.03)	0.00	0.81	0.00	0.00	0.43	(0.63)	1.58
BGT	0.40	(0.03)	0.00	(0.34)	0.00	0.00	0.80	(0.87)	2.24
JRO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MUI	0.40	0.00	0.00	(0.07)	0.00	0.00	0.58	(1.01)	3.07
EVF	0.32	(0.05)	0.00	(0.45)	0.00	0.00	0.66	(0.66)	1.98
EVV	0.46	0.06	0.19	0.64	0.50	(0.53)	1.00	(0.80)	3.54
FTF	0.42	0.04	0.20	1.77	0.44	(0.46)	0.80	(0.77)	3.29

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