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

Significant diversification

The correlation between Nuveen Symphony Floating and DJI is 0.04 (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

  0.88EMGRX Nuveen Small CapPairCorr
  0.88FRMPX Nuveen Small CapPairCorr
  0.9FRSLX Nuveen Mid CapPairCorr
  0.91NQCCX Nuveen Nwq LargePairCorr
  0.91NQCAX Nuveen Nwq LargePairCorr
  0.82FACSX Nuveen Mid CapPairCorr
  0.91NQCRX Nuveen Nwq LargePairCorr
  0.84FSCCX First American InvestmentPairCorr
  0.82FSCVX Nuveen Small CapPairCorr
  0.84FSCWX Nuveen Small CapPairCorr
  0.84FSCAX 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
  0.31FREGX Nuveen Real EstatePairCorr
  0.88FALTX Nuveen Short TermPairCorr
  0.63FAFJX Nuveen Limited TermPairCorr
  0.58FAFMX Nuveen Ohio MunicipalPairCorr
  0.52FAFLX Nuveen Louisiana MunPairCorr
  0.46FAFOX Nuveen Kansas MunicipalPairCorr
  0.49FSFRX Nuveen Strategic IncomePairCorr
  0.46NRICX Nuveen Real AssetPairCorr
  0.42NRIAX Nuveen Real AssetPairCorr
  0.4NRIIX Nuveen Real AssetPairCorr
  0.4NRIFX Nuveen Real AssetPairCorr
  0.32FARCX Nuveen Real EstatePairCorr

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.