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.
Nuveen |
Moving together with Nuveen Mutual Fund
0.89 | EMGRX | Nuveen Small Cap | PairCorr |
0.9 | NQCCX | Nuveen Nwq Large | PairCorr |
0.83 | FACSX | Nuveen Mid Cap | PairCorr |
0.85 | FSCVX | Nuveen Small Cap | PairCorr |
0.83 | FASEX | Nuveen Mid Cap | PairCorr |
0.9 | NQVAX | Nuveen Nwq Multi | PairCorr |
0.9 | NQVRX | Nuveen Nwq Multi | PairCorr |
0.9 | FCSIX | Nuveen High Income | PairCorr |
0.91 | NCSRX | Nuveen Symphony Credit | PairCorr |
0.82 | FFEFX | Nuveen Dividend Value | PairCorr |
0.93 | NELAX | Nuveen Equity Longshort | PairCorr |
0.86 | NWCAX | Nuveen Winslow Large | PairCorr |
1.0 | NFFCX | Nuveen Symphony Floating | PairCorr |
1.0 | NFRFX | Nuveen Symphony Floating | PairCorr |
0.9 | FIMPX | Nuveen Small Cap | PairCorr |
0.87 | FLRAX | Nuveen Large Cap | PairCorr |
0.88 | FLRYX | Nuveen Large Cap | PairCorr |
0.87 | FLYCX | Nuveen Large Cap | PairCorr |
Moving against Nuveen Mutual Fund
0.49 | NRIAX | Nuveen Real Asset | PairCorr |
0.48 | NRIIX | Nuveen Real Asset | PairCorr |
0.47 | FAFJX | Nuveen Limited Term | PairCorr |
0.36 | FREAX | Nuveen Real Estate | PairCorr |
Related Correlations Analysis
0.92 | 0.92 | 0.86 | 0.87 | NFRIX | ||
0.92 | 1.0 | 0.96 | 0.96 | NFFCX | ||
0.92 | 1.0 | 0.96 | 0.96 | NFRFX | ||
0.86 | 0.96 | 0.96 | 0.98 | GIFAX | ||
0.87 | 0.96 | 0.96 | 0.98 | EAFAX | ||
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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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
NFRIX | 0.07 | 0.03 | (1.68) | (12.58) | 0.00 | 0.17 | 0.79 | |||
NFFCX | 0.07 | 0.02 | (1.78) | 3.47 | 0.00 | 0.11 | 0.73 | |||
NFRFX | 0.07 | 0.03 | (1.72) | (7.54) | 0.00 | 0.11 | 0.90 | |||
GIFAX | 0.05 | 0.00 | (1.77) | 0.00 | 0.00 | 0.08 | 0.79 | |||
EAFAX | 0.06 | 0.02 | (1.03) | (6.25) | 0.00 | 0.10 | 0.81 |