Neuberger Berman Correlations

NML Fund

USD 8.95 0.24 2.76%

The current 90-days correlation between Neuberger Berman Mlp and Blackrock Muniyield is 0.24 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Neuberger Berman moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Neuberger Berman Mlp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Neuberger Berman Correlation With Market

Weak diversification

The correlation between Neuberger Berman Mlp and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neuberger Berman Mlp 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 Mlp. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Neuberger Fund

0.64	SCD	Lmp Capital And	Pair Corr
0.64	BTO	John Hancock Financial	Pair Corr
0.93	EMO	Clearbridge Energy Mlp	Pair Corr
0.65	GSHRX	Goldman Sachs High	Pair Corr
0.62	RPIFX	T Rowe Price	Pair Corr
0.64	VFSUX	Vanguard Short Term	Pair Corr
0.63	GUHYX	Victory High Yield	Pair Corr
0.8	RBNCX	Robinson Opportunistic	Pair Corr

Related Correlations Analysis

	MYD	MUI	MQY	MYI	MUE	MVF	KTF	MHD	NXC	MVT
MYD		0.25	0.94	0.92	0.96	0.9	0.94	0.94	0.8	0.92	MYD
MUI	0.25		0.51	0.16	0.29	-0.04	0.28	0.19	0.18	-0.03	MUI
MQY	0.94	0.51		0.86	0.95	0.77	0.92	0.9	0.73	0.8	MQY
MYI	0.92	0.16	0.86		0.91	0.92	0.92	0.93	0.78	0.94	MYI
MUE	0.96	0.29	0.95	0.91		0.85	0.93	0.95	0.7	0.89	MUE
MVF	0.9	-0.04	0.77	0.92	0.85		0.86	0.92	0.75	0.97	MVF
KTF	0.94	0.28	0.92	0.92	0.93	0.86		0.89	0.77	0.89	KTF
MHD	0.94	0.19	0.9	0.93	0.95	0.92	0.89		0.71	0.93	MHD
NXC	0.8	0.18	0.73	0.78	0.7	0.75	0.77	0.71		0.74	NXC
MVT	0.92	-0.03	0.8	0.94	0.89	0.97	0.89	0.93	0.74		MVT
	MYD	MUI	MQY	MYI	MUE	MVF	KTF	MHD	NXC	MVT

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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

MVT	+ 0.97	MVF
MUE	+ 0.96	MYD
MUE	+ 0.95	MQY
MHD	+ 0.95	MUE
MQY	+ 0.94	MYD
KTF	+ 0.94	MYD

High negative correlations

MVF	- 0.04	MUI
MVT	- 0.03	MUI

Risk-Adjusted Indicators

There is a big difference between Neuberger Fund performing well and Neuberger Berman 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
MYD	0.51	(0.01)	0.00	(0.08)	0.00	0.00	0.97	(1.07)	3.34
MUI	0.46	(0.03)	0.00	0.82	0.00	0.00	0.73	(1.40)	3.95
MQY	0.53	0.00	0.02	(0.03)	0.73	(0.57)	1.18	(1.17)	3.71
MYI	0.53	0.02	0.05	0.04	0.61	(0.60)	1.00	(1.10)	3.11
MUE	0.55	0.00	0.02	(0.01)	0.78	(0.53)	1.21	(1.23)	3.29
MVF	0.54	0.01	0.03	0.02	0.68	(0.59)	0.97	(1.10)	3.96
KTF	0.34	0.00	0.03	(0.05)	0.49	(0.38)	0.75	(0.94)	2.23
MHD	0.56	0.01	0.04	0.05	0.74	(0.52)	1.14	(1.06)	2.79
NXC	0.41	(0.01)	0.00	(0.28)	0.00	0.00	0.85	(0.96)	4.06
MVT	0.53	0.03	0.07	0.06	0.62	(0.61)	1.19	(1.21)	3.12

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