Neuberger Berman Correlations

NBGTX Fund

USD 30.72 0.24 0.79%

The current 90-days correlation between Neuberger Berman Guardian and Neuberger Berman Large is 0.47 (i.e., Very weak 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

Poor diversification

The correlation between Neuberger Berman Guardian and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neuberger Berman Guardian 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 Guardian. 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 estimate.

Moving together with Neuberger Mutual Fund

0.83	NPNEX	Neuberger Berman Large	Pair Corr
0.81	NPNCX	Neuberger Berman Large	Pair Corr
0.82	NPNAX	Neuberger Berman Large	Pair Corr
0.82	NPNRX	Neuberger Berman Large	Pair Corr
0.82	NPRTX	Neuberger Berman Large	Pair Corr
0.92	NRACX	Neuberger Berman Socially	Pair Corr
0.78	NRABX	Neuberger Berman Absolute	Pair Corr
0.92	NRARX	Neuberger Berman Socially	Pair Corr
0.92	NRAAX	Neuberger Berman Socially	Pair Corr
0.94	NRDGX	Neuberger Berman Dividend	Pair Corr
0.9	NRGSX	Neuberger Berman Genesis	Pair Corr
0.74	NRHIX	Neuberger Berman High	Pair Corr
0.9	NRGEX	Neuberger Berman Genesis	Pair Corr
0.86	NRINX	Neuberger Berman Int	Pair Corr
0.83	NRLCX	Neuberger Berman Large	Pair Corr
0.93	NRMGX	Neuberger Berman Mid	Pair Corr
0.71	NABIX	Neuberger Berman Absolute	Pair Corr
0.92	NRSRX	Neuberger Berman Socially	Pair Corr
0.93	NSNCX	Neuberger Berman Small	Pair Corr
0.93	NSNAX	Neuberger Berman Small	Pair Corr
0.93	NSNRX	Neuberger Berman Small	Pair Corr
0.93	NSRSX	Neuberger Berman Small	Pair Corr
0.9	NBGAX	Neuberger Berman Genesis	Pair Corr
0.9	NBGEX	Neuberger Berman Genesis	Pair Corr
0.9	NBGIX	Neuberger Berman Genesis	Pair Corr
1.0	NBGUX	Neuberger Berman Guardian	Pair Corr

Moving against Neuberger Mutual Fund

0.62	NRCRX	Neuberger Berman Core	Pair Corr
0.48	NRILX	Neuberger Berman Intl	Pair Corr
0.46	NRIQX	Neuberger Berman Int	Pair Corr
0.39	NRSIX	Neuberger Berman Str	Pair Corr
0.39	NSTCX	Neuberger Berman Str	Pair Corr
0.35	NSTAX	Neuberger Berman Str	Pair Corr
0.31	NSTTX	Neuberger Berman Str	Pair Corr

Related Correlations Analysis

	NPNEX	NPNCX	NPNAX	NPNRX	NPRTX	NHS	NRACX	NRABX	NRARX	NRAAX
NPNEX		1.0	1.0	1.0	1.0	-0.23	0.82	0.73	0.82	0.82	NPNEX
NPNCX	1.0		1.0	1.0	1.0	-0.19	0.8	0.72	0.8	0.8	NPNCX
NPNAX	1.0	1.0		1.0	1.0	-0.21	0.81	0.72	0.81	0.81	NPNAX
NPNRX	1.0	1.0	1.0		1.0	-0.2	0.8	0.72	0.8	0.8	NPNRX
NPRTX	1.0	1.0	1.0	1.0		-0.21	0.81	0.72	0.81	0.81	NPRTX
NHS	-0.23	-0.19	-0.21	-0.2	-0.21		-0.49	0.17	-0.49	-0.49	NHS
NRACX	0.82	0.8	0.81	0.8	0.81	-0.49		0.58	1.0	1.0	NRACX
NRABX	0.73	0.72	0.72	0.72	0.72	0.17	0.58		0.58	0.58	NRABX
NRARX	0.82	0.8	0.81	0.8	0.81	-0.49	1.0	0.58		1.0	NRARX
NRAAX	0.82	0.8	0.81	0.8	0.81	-0.49	1.0	0.58	1.0		NRAAX
	NPNEX	NPNCX	NPNAX	NPNRX	NPRTX	NHS	NRACX	NRABX	NRARX	NRAAX

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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

NPNCX	+ 1.0	NPNEX
NPNAX	+ 1.0	NPNEX
NPNRX	+ 1.0	NPNEX
NPRTX	+ 1.0	NPNEX
NPNAX	+ 1.0	NPNCX
NPNRX	+ 1.0	NPNCX

High negative correlations

NRAAX	- 0.49	NHS
NRARX	- 0.49	NHS
NRACX	- 0.49	NHS
NHS	- 0.23	NPNEX
NHS	- 0.21	NPRTX
NHS	- 0.21	NPNAX

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
NPNEX	0.48	(0.02)	(0.11)	0.08	0.44	(0.53)	1.07	(0.76)	2.69
NPNCX	0.48	(0.03)	(0.12)	0.07	0.46	(0.54)	1.06	(0.75)	2.70
NPNAX	0.48	(0.02)	(0.12)	0.08	0.45	(0.53)	1.05	(0.77)	2.71
NPNRX	0.48	(0.02)	(0.12)	0.08	0.45	(0.53)	1.05	(0.77)	2.70
NPRTX	0.48	(0.02)	(0.11)	0.08	0.45	(0.53)	1.05	(0.75)	2.71
NHS	0.71	(0.06)	0.00	(0.36)	0.00	0.00	1.48	(1.60)	6.93
NRACX	0.55	0.01	0.00	0.12	0.58	(0.62)	1.03	(1.39)	4.83
NRABX	0.22	(0.01)	(0.37)	0.05	0.20	(0.26)	0.33	(0.41)	1.24
NRARX	0.55	0.01	0.00	0.13	0.56	(0.62)	1.04	(1.38)	4.83
NRAAX	0.55	0.01	0.00	0.13	0.56	(0.62)	1.03	(1.38)	4.82

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