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

0.89	EMGRX	Nuveen Small Cap	Pair Corr
0.9	FRMPX	Nuveen Small Cap	Pair Corr
0.91	FRSLX	Nuveen Mid Cap	Pair Corr
0.82	FACSX	Nuveen Mid Cap	Pair Corr
0.85	FSCVX	Nuveen Small Cap	Pair Corr
0.85	FSCAX	Nuveen Small Cap	Pair Corr
0.83	FASEX	Nuveen Mid Cap	Pair Corr
0.89	NQVAX	Nuveen Nwq Multi	Pair Corr
0.87	NSCAX	Nuveen Nwq Small	Pair Corr
0.84	NSMCX	Nuveen Nwq Smallmid	Pair Corr
0.81	FFEIX	Nuveen Dividend Value	Pair Corr
0.93	NELAX	Nuveen Equity Longshort	Pair Corr
0.92	NELCX	Nuveen Equity Longshort	Pair Corr
0.93	NELIX	Nuveen Equity Longshort	Pair Corr
1.0	NFFCX	Nuveen Symphony Floating	Pair Corr
0.98	NFRFX	Nuveen Symphony Floating	Pair Corr
1.0	NFRIX	Nuveen Symphony Floating	Pair Corr
0.9	FIMPX	Nuveen Small Cap	Pair Corr
0.87	FJSIX	Nuveen High Income	Pair Corr

Moving against Nuveen Mutual Fund

0.83	NGJCX	Nuveen Global Real	Pair Corr
0.82	NGJAX	Nuveen Global Real	Pair Corr
0.82	NGJFX	Nuveen Global Real	Pair Corr
0.82	NGJIX	Nuveen Global Real	Pair Corr
0.35	FLTDX	Nuveen Limited Term	Pair Corr

Related Correlations Analysis

	NFRIX	NFFCX	NFRFX	GIFAX	EAFAX
NFRIX		1.0	0.98	0.94	0.96	NFRIX
NFFCX	1.0		0.98	0.94	0.96	NFFCX
NFRFX	0.98	0.98		0.96	0.95	NFRFX
GIFAX	0.94	0.94	0.96		0.97	GIFAX
EAFAX	0.96	0.96	0.95	0.97		EAFAX
	NFRIX	NFFCX	NFRFX	GIFAX	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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NFRIX	0.07	0.03	(1.71)	(2.19)	(0.15)	0.17	(0.06)	0.79
NFFCX	0.07	0.03	(1.77)	(1.25)	(0.14)	0.11	(0.06)	0.73
NFRFX	0.07	0.03	(1.72)	(7.54)	(0.17)	0.11	(0.06)	0.90
GIFAX	0.05	0.00	(1.77)	0.00	(0.11)	0.08	(0.08)	0.79
EAFAX	0.06	0.02	(1.04)	2.54	(0.19)	0.10	(0.10)	0.81

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