Nuveen Floating Correlations

Funds . USA . 
Fund . Nuveen Floating Rate
JFR Fund  USD 8.47  0.02  0.24%   
The current 90-days correlation between Nuveen Floating Rate and Blackrock Floating Rate is 0.64 (i.e., Poor diversification). The correlation of Nuveen Floating 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.

Nuveen Floating Correlation With Market

Very weak diversification

The correlation between Nuveen Floating Rate and DJI is 0.47 (i.e., Very weak 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, which includes a position in Nuveen Floating Rate. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Nuveen Fund

  0.93ASG Liberty All StarPairCorr
  0.9IIF Morgan Stanley IndiaPairCorr
  0.95CII Blackrock EnhancedPairCorr
  0.68IFN India ClosedPairCorr
  0.95ETV Eaton Vance TaxPairCorr
  0.94CLM Cornerstone StrategicPairCorr
  0.94CRF Cornerstone StrategicPairCorr
  0.93USA Liberty All StarPairCorr
  0.96ETY Eaton Vance TaxPairCorr
  0.98NFJ Virtus Dividend InterestPairCorr
  0.85PCIMX California IntermediatePairCorr
  0.94CFWCX Calvert Global WaterPairCorr
  0.94CGQYX Columbia DisciplinedPairCorr
  0.77VFFIX Victory IncorePairCorr
  0.94OAAIX Oppenheimer AggrssvPairCorr
  0.68IRDAX Ishares Russell 3000PairCorr
  0.95MIFIX Miller Intermediate BondPairCorr
  0.93SMGAX Saat Servative StrategyPairCorr
  0.81PINFX Invesco Multi AssetPairCorr
  0.92TAAEX Transamerica Capital Steady GrowthPairCorr
  0.89DNREX Dunham Real EstatePairCorr
  0.96TEIMX T Rowe PricePairCorr
  0.98FMSDX Fidelity Advisor MultiPairCorr
  0.96LEKKX Blackrock Lifepath EsgPairCorr
  0.96FLMFX Muirfield Fund RetailPairCorr
  0.95PPNMX Smallcap GrowthPairCorr
  0.67RVPHX Royce Smaller CompaniesPairCorr
  0.72SMHYX Aim Counselor SeriesPairCorr
  0.96RBITX American Funds 2050PairCorr
  0.95FIFRX Franklin GrowthPairCorr
  0.69SHXYX American Beacon ShapiroPairCorr
  0.96ISGAX Voya Solution BalancedPairCorr
  0.94LSIRX Clearbridge Mid CapPairCorr
  0.96GSPQX Goldman Sachs EquityPairCorr
  0.97SWCGX Schwab MarkettrackPairCorr
  0.97MHYIX Mainstay High YieldPairCorr
  0.97TEDTX Tiaa Cref EmergingPairCorr
  0.98DIMIX Dreyfus Short IntermPairCorr

Related Correlations Analysis

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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.

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