Nuveen Floating Correlations

Delisted . USA . 
Fund . Nuveen Floating Rate
JRODelisted Fund  USD 7.83  0.05  0.64%   
The current 90-days correlation between Nuveen Floating Rate and Nuveen Floating Rate is 0.08 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nuveen Floating moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nuveen Floating Rate moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nuveen Floating Correlation With Market

Good diversification

The correlation between Nuveen Floating Rate and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Floating Rate and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Nuveen Fund

  0.65KINAX Kinetics InternetPairCorr
  0.62KNPCX Kinetics Paradigm Steady GrowthPairCorr
  0.62WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.62KNPAX Kinetics Paradigm Steady GrowthPairCorr
  0.61LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.65KINCX Kinetics InternetPairCorr
  0.71BAC Bank of America Aggressive PushPairCorr

Moving against Nuveen Fund

  0.74PFE Pfizer Inc Aggressive PushPairCorr
  0.66KO Coca Cola Aggressive PushPairCorr
  0.56MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.52MMM 3M Company Fiscal Year End 28th of January 2025 PairCorr
  0.51MCD McDonalds Fiscal Year End 3rd of February 2025 PairCorr
  0.49DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr
  0.43GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr
  0.38IBM International Business Fiscal Year End 22nd of January 2025 PairCorr

Related Correlations Analysis

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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   
BGT
+ 0.94
FRA
EVF
+ 0.91
JFR
FCT
+ 0.89
JFR
FRA
+ 0.88
EVF
FCT
+ 0.87
EVF
JQC
+ 0.86
JFR
  
High negative correlations   
NSL
- 0.12
MUI

Risk-Adjusted Indicators

There is a big difference between Nuveen Fund performing well and Nuveen Floating 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 Nuveen Floating'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
JFR  0.41  0.10 (0.05) 3.56  0.26 
(0.53)
 1.00 
(0.91)
 2.30 
MUI  0.30  0.05 (0.12)(2.18) 0.46 
(0.34)
 0.73 
(0.64)
 3.31 
EVF  0.31  0.04 (0.19) 0.86  0.28 
(0.37)
 0.66 
(0.65)
 2.24 
AFT  0.61  0.13  0.01  1.36  0.72 
(0.67)
 1.35 
(1.65)
 4.04 
NSL  0.45  0.02 (0.18) 1.94  0.49 
(0.56)
 0.90 
(1.09)
 2.24 
FRA  0.46  0.14  0.05  1.16  0.25 
(0.54)
 1.08 
(0.85)
 2.42 
JQC  0.55  0.07 (0.08) 2.62  0.66 
(0.56)
 1.03 
(1.05)
 3.37 
BGT  0.52  0.07 (0.09) 2.18  0.43 
(0.59)
 1.16 
(0.79)
 2.83 
BGX  0.48  0.03 (0.12) 0.37  0.65 
(0.47)
 0.87 
(1.02)
 2.99 
FCT  0.38  0.03 (0.18) 0.52  0.38 
(0.46)
 0.88 
(0.79)
 2.75 

Nuveen Floating Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Nuveen Floating fund to make a market-neutral strategy. Peer analysis of Nuveen Floating could also be used in its relative valuation, which is a method of valuing Nuveen Floating by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Still Interested in Nuveen Floating Rate?

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