Nuveen Floating Correlations

Delisted . USA . 
Fund . Nuveen Floating Rate
JRODelisted Fund  USD 7.83  0.05  0.64%   
The current 90-days correlation between Nuveen Floating Rate and Nuveen Floating Rate is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nuveen Floating moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nuveen Floating Rate moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nuveen Floating Correlation With Market

Average diversification

The correlation between Nuveen Floating Rate and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Floating Rate and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Nuveen Fund

  0.81JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.65CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr

Moving against Nuveen Fund

  0.74KO Coca Cola Aggressive PushPairCorr
  0.69VZ Verizon Communications Aggressive PushPairCorr
  0.66PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.64MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.56JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.55UIPIX Ultrashort Mid CapPairCorr
  0.5PG Procter GamblePairCorr
  0.45USPSX Profunds UltrashortPairCorr
  0.45USPIX Profunds UltrashortPairCorr
  0.41DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr
  0.32PDI Pimco Dynamic IncomePairCorr
  0.32IBM International Business Fiscal Year End 22nd of January 2025 PairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
BGT
+ 0.94
FRA
EVF
+ 0.89
JFR
FRA
+ 0.87
EVF
FCT
+ 0.86
JFR
FRA
+ 0.84
JFR
JQC
+ 0.82
JFR
  
High negative correlations   
BGX
- 0.21
MUI
BGX
- 0.09
NSL

Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen Floating 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 Floating'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
JFR  0.41  0.06 (0.07) 4.52  0.34 
(0.51)
 0.92 
(0.91)
 2.30 
MUI  0.29  0.01 (0.13) 1.78  0.48 
(0.32)
 0.73 
(0.65)
 3.31 
EVF  0.32  0.01 (0.17) 0.25  0.34 
(0.37)
 0.66 
(0.65)
 2.24 
AFT  0.61  0.13  0.04  0.96  0.72 
(0.67)
 1.35 
(1.65)
 4.04 
NSL  0.45  0.01 (0.13) 0.26  0.49 
(0.56)
 0.90 
(1.09)
 2.24 
FRA  0.46  0.12  0.07  0.88  0.27 
(0.53)
 1.08 
(0.85)
 2.42 
JQC  0.57  0.04 (0.08) 0.79  0.67 
(0.58)
 0.89 
(1.05)
 3.37 
BGT  0.54  0.04 (0.08) 0.72  0.50 
(0.63)
 1.19 
(1.03)
 2.83 
BGX  0.47  0.01 (0.11) 0.15  0.66 
(0.45)
 0.87 
(1.03)
 2.99 
FCT  0.39  0.05 (0.08) 0.77  0.34 
(0.48)
 0.88 
(0.79)
 2.75 

Nuveen Floating Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Nuveen Floating fund to make a market-neutral strategy. Peer analysis of Nuveen Floating could also be used in its relative valuation, which is a method of valuing Nuveen Floating by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Still Interested in Nuveen Floating Rate?

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