Nuveen Variable Correlations

NPFD Stock

USD 19.12 0.07 0.37%

The current 90-days correlation between Nuveen Variable Rate and Nuveen Multi Asset Income is 0.43 (i.e., Very weak 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

Very weak diversification

The correlation between Nuveen Variable Rate and DJI is 0.5 (i.e., Very weak 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.

Build AI portfolio with Nuveen Stock

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

0.68	TY	Tri Continental Closed	Pair Corr
0.62	FDUS	Fidus Investment Corp	Pair Corr
0.61	TAM	Tatton Asset Management	Pair Corr

Moving against Nuveen Stock

0.57	DGS	Dividend Growth Split	Pair Corr
0.45	MAJE	Majedie Investments	Pair Corr
0.37	WWH	Worldwide Healthcare	Pair Corr
0.56	FFN	North American Financial	Pair Corr
0.47	SII	Sprott Inc Normal Trading	Pair Corr
0.47	TPG	TPG Inc	Pair Corr
0.43	STT	State Street Corp	Pair Corr
0.37	PAX	Patria Investments	Pair Corr
0.33	BIOG	Biotech Growth	Pair Corr
0.57	QRC	Queens Road Capital Earnings Call This Week	Pair Corr
0.5	BRFI	BlackRock Frontiers	Pair Corr
0.48	HERZ	Herzfeld Creditome Symbol Change	Pair Corr
0.44	LWI	Lowland Investment	Pair Corr
0.36	OCI	Oakley Capital Inves	Pair Corr

Related Correlations Analysis

	NMAI	NBB	HPI	CHW	GUG	NQP	ETB	NCV	ISD	AVK
NMAI		0.14	-0.18	0.02	-0.1	0.25	0.78	0.66	0.71	0.45	NMAI
NBB	0.14		0.67	0.24	0.08	0.06	-0.13	0.11	-0.11	0.28	NBB
HPI	-0.18	0.67		0.52	0.34	-0.34	-0.49	0.01	-0.59	0.32	HPI
CHW	0.02	0.24	0.52		0.7	-0.68	0.0	0.5	-0.36	0.82	CHW
GUG	-0.1	0.08	0.34	0.7		-0.46	-0.04	0.28	-0.27	0.59	GUG
NQP	0.25	0.06	-0.34	-0.68	-0.46		0.17	-0.09	0.41	-0.44	NQP
ETB	0.78	-0.13	-0.49	0.0	-0.04	0.17		0.63	0.88	0.42	ETB
NCV	0.66	0.11	0.01	0.5	0.28	-0.09	0.63		0.36	0.82	NCV
ISD	0.71	-0.11	-0.59	-0.36	-0.27	0.41	0.88	0.36		0.07	ISD
AVK	0.45	0.28	0.32	0.82	0.59	-0.44	0.42	0.82	0.07		AVK
	NMAI	NBB	HPI	CHW	GUG	NQP	ETB	NCV	ISD	AVK

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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

ISD	+ 0.88	ETB
AVK	+ 0.82	CHW
AVK	+ 0.82	NCV
ETB	+ 0.78	NMAI
ISD	+ 0.71	NMAI
GUG	+ 0.7	CHW

High negative correlations

NQP	- 0.68	CHW
ISD	- 0.59	HPI
ETB	- 0.49	HPI
NQP	- 0.46	GUG
AVK	- 0.44	NQP
ISD	- 0.36	CHW

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
NMAI	0.48	0.00	(0.03)	0.06	0.67	(0.48)	0.87	(1.22)	3.47
NBB	0.42	(0.04)	0.00	(0.08)	0.00	0.00	0.75	(0.86)	2.56
HPI	0.37	(0.08)	0.00	(0.16)	0.00	0.00	0.72	(0.72)	1.92
CHW	0.69	(0.02)	(0.04)	0.03	0.93	(0.68)	1.23	(1.48)	3.44
GUG	0.68	(0.02)	(0.06)	0.01	0.82	(0.69)	1.04	(1.25)	3.60
NQP	0.28	0.00	(0.14)	0.06	0.27	(0.35)	0.51	(0.51)	1.43
ETB	0.52	0.01	(0.01)	0.08	0.61	(0.57)	1.22	(0.86)	2.90
NCV	0.72	0.02	0.01	0.09	0.84	(0.73)	1.27	(1.48)	3.62
ISD	0.45	0.02	(0.02)	0.11	0.47	(0.55)	1.04	(0.93)	3.25
AVK	0.63	(0.03)	(0.06)	0.02	0.75	(0.67)	1.13	(1.42)	3.23

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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