Nuveen Variable Correlations

NPFD Stock

USD 18.92 0.10 0.53%

The current 90-days correlation between Nuveen Variable Rate and Virtus AllianzGI Convertible is -0.02 (i.e., Good diversification). The correlation of Nuveen Variable 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.

Nuveen Variable Correlation With Market

Average diversification

The correlation between Nuveen Variable 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 Variable Rate 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 Variable Rate. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Nuveen Stock

0.65	AC	Associated Capital	Pair Corr
0.76	BN	Brookfield Corp	Pair Corr
0.67	BX	Blackstone Group Normal Trading	Pair Corr
0.73	CG	Carlyle Group	Pair Corr
0.7	LX	Lexinfintech Holdings	Pair Corr
0.75	MA	Mastercard	Pair Corr
0.62	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.7	PX	P10 Inc	Pair Corr
0.65	QD	Qudian Inc	Pair Corr
0.69	SF	Stifel Financial Earnings Call Tomorrow	Pair Corr
0.76	TW	Tradeweb Markets	Pair Corr
0.7	VCTR	Victory Capital Holdings Normal Trading	Pair Corr
0.61	GCMGW	GCM Grosvenor	Pair Corr
0.62	DYCQ	DT Cloud Acquisition	Pair Corr

Moving against Nuveen Stock

0.51	PT	Pintec Technology	Pair Corr
0.63	XP	Xp Inc	Pair Corr
0.37	WU	Western Union	Pair Corr
0.35	RM	Regional Management Corp	Pair Corr
0.78	BRACU	Broad Capital Acquisition	Pair Corr
0.64	PFTAU	Portage Fintech Acqu	Pair Corr
0.46	BRKHU	BurTech Acquisition Corp	Pair Corr
0.44	EMCGU	Embrace Change Acqui	Pair Corr

Related Correlations Analysis

	GAB-PH	NCV-PA	GAB-PG	OXLCO	GUT-PC	GGT-PE	VKI	IQI	VCV	KTF
GAB-PH		0.88	0.97	0.31	0.74	0.92	0.59	0.62	0.09	0.62	GAB-PH
NCV-PA	0.88		0.88	0.0	0.7	0.85	0.48	0.72	0.29	0.41	NCV-PA
GAB-PG	0.97	0.88		0.29	0.71	0.91	0.57	0.6	0.07	0.55	GAB-PG
OXLCO	0.31	0.0	0.29		0.12	0.36	-0.01	-0.35	-0.78	0.38	OXLCO
GUT-PC	0.74	0.7	0.71	0.12		0.74	0.51	0.6	0.22	0.63	GUT-PC
GGT-PE	0.92	0.85	0.91	0.36	0.74		0.52	0.61	0.01	0.69	GGT-PE
VKI	0.59	0.48	0.57	-0.01	0.51	0.52		0.74	0.48	0.43	VKI
IQI	0.62	0.72	0.6	-0.35	0.6	0.61	0.74		0.67	0.45	IQI
VCV	0.09	0.29	0.07	-0.78	0.22	0.01	0.48	0.67		-0.05	VCV
KTF	0.62	0.41	0.55	0.38	0.63	0.69	0.43	0.45	-0.05		KTF
	GAB-PH	NCV-PA	GAB-PG	OXLCO	GUT-PC	GGT-PE	VKI	IQI	VCV	KTF

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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

GAB-PG	+ 0.97	GAB-PH
GGT-PE	+ 0.92	GAB-PH
GGT-PE	+ 0.91	GAB-PG
NCV-PA	+ 0.88	GAB-PH
GAB-PG	+ 0.88	NCV-PA
GGT-PE	+ 0.85	NCV-PA

High negative correlations

VCV	- 0.78	OXLCO
IQI	- 0.35	OXLCO
KTF	- 0.05	VCV
VKI	- 0.01	OXLCO
OXLCO	- 0.0	NCV-PA

Risk-Adjusted Indicators

There is a big difference between Nuveen Stock performing well and Nuveen Variable Company 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 Variable'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
GAB-PH	0.44	0.10	(0.03)	(2.86)	0.36	(0.48)	1.17	(0.93)	3.34
NCV-PA	0.47	0.04	(0.12)	(0.21)	0.67	(0.52)	1.08	(1.21)	3.97
GAB-PG	0.71	0.10	(0.02)	(8.11)	0.77	(0.77)	1.68	(1.22)	5.27
OXLCO	0.30	0.03	(0.22)	5.90	0.31	(0.38)	0.89	(0.62)	2.32
GUT-PC	0.52	0.01	(0.13)	0.16	0.53	(0.73)	1.30	(1.13)	2.93
GGT-PE	0.47	0.04	(0.07)	0.50	0.62	(0.68)	1.44	(0.99)	5.53
VKI	0.39	0.04	(0.19)	(0.28)	0.40	(0.45)	0.79	(0.66)	2.47
IQI	0.40	(0.01)	(0.20)	0.01	0.53	(0.38)	0.79	(0.70)	2.30
VCV	0.53	(0.03)	0.00	0.73	0.00	0.00	0.95	(0.97)	3.87
KTF	0.44	0.05	(0.12)	(1.30)	0.48	(0.53)	1.12	(0.61)	3.40

Nuveen Variable Corporate Management

Mark Winget	VP Secretary	Profile
Scott Wickerham	VP Controller	Profile
E Wickerham	VP Controller	Profile
David Lamb	Chief Officer	Profile
Gifford CFA	VP Officer	Profile

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