Nuveen Symphony Correlations

NFRAX Fund  USD 18.26  0.01  0.05%   
The current 90-days correlation between Nuveen Symphony Floating and Nuveen Symphony Floating is -0.05 (i.e., Good diversification). The correlation of Nuveen Symphony 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 Symphony Correlation With Market

Significant diversification

The correlation between Nuveen Symphony Floating and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Symphony Floating and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nuveen Symphony Floating. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Nuveen Mutual Fund

  0.89EMGRX Nuveen Small CapPairCorr
  0.9NQCCX Nuveen Nwq LargePairCorr
  0.83FACSX Nuveen Mid CapPairCorr
  0.85FSCVX Nuveen Small CapPairCorr
  0.83FASEX Nuveen Mid CapPairCorr
  0.9NQVAX Nuveen Nwq MultiPairCorr
  0.9NQVRX Nuveen Nwq MultiPairCorr
  0.9FCSIX Nuveen High IncomePairCorr
  0.91NCSRX Nuveen Symphony CreditPairCorr
  0.82FFEFX Nuveen Dividend ValuePairCorr
  0.93NELAX Nuveen Equity LongshortPairCorr
  0.86NWCAX Nuveen Winslow LargePairCorr
  1.0NFFCX Nuveen Symphony FloatingPairCorr
  1.0NFRFX Nuveen Symphony FloatingPairCorr
  0.9FIMPX Nuveen Small CapPairCorr
  0.87FLRAX Nuveen Large CapPairCorr
  0.88FLRYX Nuveen Large CapPairCorr
  0.87FLYCX Nuveen Large CapPairCorr

Moving against Nuveen Mutual Fund

  0.49NRIAX Nuveen Real AssetPairCorr
  0.48NRIIX Nuveen Real AssetPairCorr
  0.47FAFJX Nuveen Limited TermPairCorr
  0.36FREAX Nuveen Real EstatePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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