Neuberger Berman Correlations

NBMTX Fund

USD 18.32 0.25 1.38%

The current 90-days correlation between Neuberger Berman Mid and Neuberger Berman Floating is 0.09 (i.e., Significant diversification). The correlation of Neuberger Berman 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.

Neuberger Berman Correlation With Market

Weak diversification

The correlation between Neuberger Berman Mid and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neuberger Berman Mid 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 Neuberger Berman Mid. 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 estimate.

Moving together with Neuberger Mutual Fund

0.87	NPNEX	Neuberger Berman Large	Pair Corr
0.88	NPNCX	Neuberger Berman Large	Pair Corr
0.88	NPNAX	Neuberger Berman Large	Pair Corr
0.88	NPNRX	Neuberger Berman Large	Pair Corr
0.81	NPRTX	Neuberger Berman Large	Pair Corr
0.86	NRAEX	Neuberger Berman Sus	Pair Corr
0.89	NRACX	Neuberger Berman Socially	Pair Corr
0.87	NRARX	Neuberger Berman Socially	Pair Corr
0.74	NRAAX	Neuberger Berman Socially	Pair Corr
0.79	NRCRX	Neuberger Berman Core	Pair Corr
0.93	NRDGX	Neuberger Berman Dividend	Pair Corr
0.87	NREAX	Neuberger Berman Real	Pair Corr
0.86	NRECX	Neuberger Berman Real	Pair Corr
0.9	NRGSX	Neuberger Berman Genesis	Pair Corr
0.9	NRGEX	Neuberger Berman Genesis	Pair Corr
0.75	NRILX	Neuberger Berman Intl	Pair Corr
0.72	NRIQX	Neuberger Berman Int	Pair Corr
0.7	NRINX	Neuberger Berman Int	Pair Corr
0.88	NRLCX	Neuberger Berman Large	Pair Corr
0.95	NRMGX	Neuberger Berman Mid	Pair Corr
0.91	NSNCX	Neuberger Berman Small	Pair Corr
0.84	NSNAX	Neuberger Berman Small	Pair Corr
0.91	NSNRX	Neuberger Berman Small	Pair Corr
0.91	NSRSX	Neuberger Berman Small	Pair Corr
0.94	NBGEX	Neuberger Berman Genesis	Pair Corr
0.92	NBGIX	Neuberger Berman Genesis	Pair Corr
0.92	NBGNX	Neuberger Berman Genesis	Pair Corr
0.89	NBGTX	Neuberger Berman Guardian	Pair Corr

Moving against Neuberger Mutual Fund

0.44	NRABX	Neuberger Berman Absolute	Pair Corr
0.44	NABAX	Neuberger Berman Absolute	Pair Corr
0.48	NABEX	Neuberger Berman Absolute	Pair Corr
0.44	NABIX	Neuberger Berman Absolute	Pair Corr
0.43	NABCX	Neuberger Berman Absolute	Pair Corr

Related Correlations Analysis

	NFICX	NFIAX	NFIIX	NGDCX	NGDAX	NGDLX	NGDRX	NGRDX	NPNEX
NFICX		0.51	1.0	-0.25	-0.2	-0.23	-0.24	-0.18	-0.27	NFICX
NFIAX	0.51		0.47	-0.2	-0.17	-0.17	-0.08	-0.17	-0.41	NFIAX
NFIIX	1.0	0.47		-0.29	-0.24	-0.27	-0.27	-0.22	-0.3	NFIIX
NGDCX	-0.25	-0.2	-0.29		1.0	0.89	0.89	1.0	0.75	NGDCX
NGDAX	-0.2	-0.17	-0.24	1.0		0.88	0.88	1.0	0.73	NGDAX
NGDLX	-0.23	-0.17	-0.27	0.89	0.88		0.77	0.88	0.76	NGDLX
NGDRX	-0.24	-0.08	-0.27	0.89	0.88	0.77		0.88	0.56	NGDRX
NGRDX	-0.18	-0.17	-0.22	1.0	1.0	0.88	0.88		0.73	NGRDX
NPNEX	-0.27	-0.41	-0.3	0.75	0.73	0.76	0.56	0.73		NPNEX
	NFICX	NFIAX	NFIIX	NGDCX	NGDAX	NGDLX	NGDRX	NGRDX	NPNEX

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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

NFIIX	+ 1.0	NFICX
NGDAX	+ 1.0	NGDCX
NGRDX	+ 1.0	NGDCX
NGRDX	+ 1.0	NGDAX
NGDLX	+ 0.89	NGDCX
NGDRX	+ 0.89	NGDCX

High negative correlations

NPNEX	- 0.41	NFIAX
NPNEX	- 0.3	NFIIX
NGDCX	- 0.29	NFIIX
NGDRX	- 0.27	NFIIX
NGDLX	- 0.27	NFIIX
NPNEX	- 0.27	NFICX

Risk-Adjusted Indicators

There is a big difference between Neuberger Mutual Fund performing well and Neuberger Berman 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 Neuberger Berman'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
NFICX	0.05	0.01	0.00	1.25	0.00	0.00	0.11	(0.11)	0.64
NFIAX	0.07	0.02	(0.35)	0.82	0.00	(0.22)	0.11	(0.11)	0.75
NFIIX	0.06	0.02	(0.45)	(1.84)	0.00	(0.20)	0.11	(0.11)	0.75
NGDCX	0.83	(0.01)	(0.03)	0.05	1.29	(0.90)	1.54	(2.17)	6.53
NGDAX	0.83	0.00	(0.03)	0.07	1.25	(0.87)	1.52	(2.15)	6.23
NGDLX	0.81	(0.01)	(0.02)	0.05	1.22	(0.84)	1.53	(2.15)	6.19
NGDRX	0.83	0.00	(0.04)	0.07	1.29	(0.85)	1.51	(2.19)	6.31
NGRDX	0.82	0.01	(0.02)	0.08	1.24	(0.84)	1.53	(2.18)	6.16
NPNEX	0.55	0.02	(0.03)	0.13	0.66	(0.60)	1.11	(0.79)	4.46

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