Neuberger Berman Correlations

NFIIX Fund

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The current 90-days correlation between Neuberger Berman Floating and T Rowe Price is 0.21 (i.e., Modest 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

Modest diversification

The correlation between Neuberger Berman Floating and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neuberger Berman 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 Neuberger Berman 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 gross domestic product.

Moving together with Neuberger Mutual Fund

0.73	NPNCX	Neuberger Berman Large	Pair Corr
0.74	NPNAX	Neuberger Berman Large	Pair Corr
0.73	NPNRX	Neuberger Berman Large	Pair Corr
0.74	NPRTX	Neuberger Berman Large	Pair Corr
0.67	NRAEX	Neuberger Berman Sus	Pair Corr
0.68	NRACX	Neuberger Berman Socially	Pair Corr
0.69	NRARX	Neuberger Berman Socially	Pair Corr
0.69	NRAAX	Neuberger Berman Socially	Pair Corr
0.86	NRHIX	Neuberger Berman High	Pair Corr
0.62	NRINX	Neuberger Berman Int	Pair Corr
0.74	NRLCX	Neuberger Berman Large	Pair Corr
0.73	NRSIX	Neuberger Berman Str	Pair Corr
0.69	NRSRX	Neuberger Berman Socially	Pair Corr
0.76	NSTAX	Neuberger Berman Str	Pair Corr
0.73	NSTLX	Neuberger Berman Str	Pair Corr
0.76	NSTTX	Neuberger Berman Str	Pair Corr

Moving against Neuberger Mutual Fund

0.64	NRECX	Neuberger Berman Real	Pair Corr
0.63	NRERX	Neuberger Berman Real	Pair Corr
0.63	NREEX	Neuberger Berman Real	Pair Corr
0.62	NREAX	Neuberger Berman Real	Pair Corr
0.5	NRGEX	Neuberger Berman Genesis	Pair Corr
0.61	NRREX	Neuberger Berman Real	Pair Corr

Related Correlations Analysis

	PRFHX	PRVBX	MSTBX	BXHCX	XAFBX	RGVAX	PRINX	SGYAX
PRFHX		-0.07	0.56	0.06	0.59	0.54	0.99	0.09	PRFHX
PRVBX	-0.07		0.46	0.67	-0.25	0.42	-0.06	0.68	PRVBX
MSTBX	0.56	0.46		0.51	-0.06	0.63	0.53	0.53	MSTBX
BXHCX	0.06	0.67	0.51		-0.52	0.19	0.07	0.95	BXHCX
XAFBX	0.59	-0.25	-0.06	-0.52		0.41	0.6	-0.47	XAFBX
RGVAX	0.54	0.42	0.63	0.19	0.41		0.52	0.19	RGVAX
PRINX	0.99	-0.06	0.53	0.07	0.6	0.52		0.11	PRINX
SGYAX	0.09	0.68	0.53	0.95	-0.47	0.19	0.11		SGYAX
	PRFHX	PRVBX	MSTBX	BXHCX	XAFBX	RGVAX	PRINX	SGYAX

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

PRINX	+ 0.99	PRFHX
SGYAX	+ 0.95	BXHCX
SGYAX	+ 0.68	PRVBX
BXHCX	+ 0.67	PRVBX
RGVAX	+ 0.63	MSTBX
PRINX	+ 0.6	XAFBX

High negative correlations

XAFBX	- 0.52	BXHCX
SGYAX	- 0.47	XAFBX
XAFBX	- 0.25	PRVBX
PRVBX	- 0.07	PRFHX
XAFBX	- 0.06	MSTBX
PRINX	- 0.06	PRVBX

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
PRFHX	0.09	0.01	(0.27)	(2.49)	0.00	(0.13)	0.18	(0.09)	0.81
PRVBX	0.07	0.00	(0.55)	(0.01)	0.00	(0.07)	0.14	(0.14)	0.46
MSTBX	0.07	0.00	(0.26)	(0.29)	0.06	(0.13)	0.20	(0.10)	0.81
BXHCX	0.12	(0.01)	(0.28)	0.00	0.10	(0.20)	0.25	(0.25)	0.86
XAFBX	0.13	0.00	(0.21)	(0.59)	0.13	(0.17)	0.25	(0.33)	1.16
RGVAX	0.13	0.00	(0.30)	0.00	0.12	(0.16)	0.25	(0.25)	0.83
PRINX	0.07	0.01	(0.30)	(1.28)	0.00	(0.13)	0.18	(0.09)	0.71
SGYAX	0.13	0.00	(0.24)	0.04	0.02	(0.26)	0.29	(0.29)	1.00

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