Nuveen AA-BBB CLO ETF (NCLO) — Stock Correlations & Overview
Over the past year, NCLO has moved most closely with HRZN, RAAA, CLOI. Explore the stocks most correlated and inversely correlated with NCLO below, along with its price, financials, and company profile.
Stocks correlated with NCLO
Correlation of daily returns. Higher positive values move with NCLO; negative values move opposite it. Informational only, not investment advice.
Most correlated with NCLO
| Symbol | Company | Correlation |
|---|---|---|
| HRZN | Horizon Technology Finance Corporation | 0.44 |
| RAAA | Reckoner Yield Enhanced AAA CLO ETF | 0.39 |
| CLOI | VanEck CLO ETF | 0.32 |
| ACNT | Ascent Industries Co. Common StockCHEMICALS & ALLIED PRODUCTS | 0.32 |
| VBIL | Vanguard 0-3 Month Treasury Bill ETF | 0.32 |
Most inversely correlated with NCLO
| Symbol | Company | Correlation |
|---|---|---|
| ACEL | Accel Entertainment, Inc.SERVICES-AMUSEMENT & RECREATION SERVICES | -0.33 |
| AIFF | Firefly Neuroscience, Inc. Common StockSERVICES-PREPACKAGED SOFTWARE | -0.32 |
| BOX | BOX, INC.SERVICES-PREPACKAGED SOFTWARE | -0.26 |
| EOLS | Evolus, Inc. Common StockPHARMACEUTICAL PREPARATIONS | -0.25 |
| AON | Aon plc Class AINSURANCE AGENTS, BROKERS & SERVICE | -0.23 |
Frequently asked questions about NCLO correlations
- Which stocks are most correlated with NCLO?
- Based on one year of daily returns, the stocks most correlated with Nuveen AA-BBB CLO ETF (NCLO) are HRZN (0.44), RAAA (0.39) and CLOI (0.32). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with NCLO?
- Over the past year, the stocks most inversely correlated with Nuveen AA-BBB CLO ETF (NCLO) are ACEL (-0.33), AIFF (-0.32) and BOX (-0.26). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these NCLO correlations calculated?
- We compute the correlation of daily returns between NCLO and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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