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 0.99 (i.e., No risk reduction). 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

Good diversification

The correlation between Nuveen Symphony Floating and DJI is -0.06 (i.e., Good 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
  0.9FRMPX Nuveen Small CapPairCorr
  0.91FRSLX Nuveen Mid CapPairCorr
  0.82FACSX Nuveen Mid CapPairCorr
  0.85FSCVX Nuveen Small CapPairCorr
  0.85FSCAX Nuveen Small CapPairCorr
  0.83FASEX Nuveen Mid CapPairCorr
  0.89NQVAX Nuveen Nwq MultiPairCorr
  0.87NSCAX Nuveen Nwq SmallPairCorr
  0.84NSMCX Nuveen Nwq SmallmidPairCorr
  0.81FFEIX Nuveen Dividend ValuePairCorr
  0.93NELAX Nuveen Equity LongshortPairCorr
  0.92NELCX Nuveen Equity LongshortPairCorr
  0.93NELIX Nuveen Equity LongshortPairCorr
  1.0NFFCX Nuveen Symphony FloatingPairCorr
  0.98NFRFX Nuveen Symphony FloatingPairCorr
  1.0NFRIX Nuveen Symphony FloatingPairCorr
  0.9FIMPX Nuveen Small CapPairCorr
  0.87FJSIX Nuveen High IncomePairCorr

Moving against Nuveen Mutual Fund

  0.83NGJCX Nuveen Global RealPairCorr
  0.82NGJAX Nuveen Global RealPairCorr
  0.82NGJFX Nuveen Global RealPairCorr
  0.82NGJIX Nuveen Global RealPairCorr
  0.35FLTDX Nuveen Limited TermPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.