Nuveen Symphony Correlations

NFRAX Fund  USD 18.25  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 -0.05 (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

  0.88EMGRX Nuveen Small CapPairCorr
  0.89FRMPX Nuveen Small CapPairCorr
  0.9FRSLX Nuveen Mid CapPairCorr
  0.9NQCCX Nuveen Nwq LargePairCorr
  0.91NQCAX Nuveen Nwq LargePairCorr
  0.82FACSX Nuveen Mid CapPairCorr
  0.91NQCRX Nuveen Nwq LargePairCorr
  0.85FSCCX First American InvestmentPairCorr
  0.83FSCVX Nuveen Small CapPairCorr
  0.85FSCWX Nuveen Small CapPairCorr
  0.85FSCAX Nuveen Small CapPairCorr
  0.83FSEIX Nuveen Mid CapPairCorr
  0.82FAQIX Nuveen Dividend ValuePairCorr
  0.83FASEX Nuveen Mid CapPairCorr

Moving against Nuveen Mutual Fund

  0.41FRKSX Nuveen Kansas MunicipalPairCorr
  0.37FRLCX Nuveen Real Estate Potential GrowthPairCorr
  0.35FACCX Nuveen All AmericanPairCorr
  0.33FREAX Nuveen Real EstatePairCorr
  0.33FREGX Nuveen Real EstatePairCorr
  0.88FALTX Nuveen Short TermPairCorr
  0.58FAFMX Nuveen Ohio MunicipalPairCorr
  0.58FAFJX Nuveen Limited TermPairCorr
  0.46FAFOX Nuveen Kansas MunicipalPairCorr
  0.46FAFLX Nuveen Louisiana MunPairCorr
  0.52NRICX Nuveen Real AssetPairCorr
  0.47NRIAX Nuveen Real AssetPairCorr
  0.46NRIIX Nuveen Real AssetPairCorr
  0.44FSFRX Nuveen Strategic IncomePairCorr
  0.4NRIFX Nuveen Real AssetPairCorr
  0.34FARCX 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.