Northern Lights Correlations

FDLS Etf

USD 36.89 0.25 0.68%

The current 90-days correlation between Northern Lights and First Trust Exchange Traded is 0.13 (i.e., Average diversification). The correlation of Northern Lights 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.

Northern Lights Correlation With Market

Poor diversification

The correlation between Northern Lights and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Lights and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Northern Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Northern Lights. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Northern Etf please use our How to Invest in Northern Lights guide.

Moving together with Northern Etf

0.83	VB	Vanguard Small Cap	Pair Corr
0.95	IJR	iShares Core SP	Pair Corr
0.84	IWM	iShares Russell 2000	Pair Corr
0.64	VRTIX	Vanguard Russell 2000	Pair Corr
0.84	VTWO	Vanguard Russell 2000	Pair Corr
0.82	FNDA	Schwab Fundamental Small	Pair Corr
0.95	SPSM	SPDR Portfolio SP	Pair Corr
0.95	DFAS	Dimensional Small Cap	Pair Corr
0.95	VIOO	Vanguard SP Small	Pair Corr
0.9	PRFZ	Invesco FTSE RAFI	Pair Corr
0.74	UPRO	ProShares UltraPro SP500	Pair Corr
0.8	QTOC	Innovator ETFs Trust	Pair Corr
0.91	XTOC	Innovator ETFs Trust	Pair Corr
0.94	QTAP	Innovator Growth 100	Pair Corr
0.92	XTJA	Innovator ETFs Trust	Pair Corr
0.94	XTAP	Innovator Equity Acc	Pair Corr
0.68	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.62	BAC	Bank of America Earnings Call Next Week	Pair Corr
0.62	WMT	Walmart Common Stock	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr

Moving against Northern Etf

0.45	MSFT	Microsoft	Pair Corr
0.36	T	ATT Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.55	0.3	-0.51	0.32	-0.23	0.29	-0.23	-0.39	-0.52	META
MSFT	0.55		0.75	-0.57	0.4	0.03	-0.06	-0.5	-0.84	-0.64	MSFT
UBER	0.3	0.75		-0.47	0.35	0.26	-0.17	-0.51	-0.8	-0.56	UBER
F	-0.51	-0.57	-0.47		-0.65	0.13	0.33	0.59	0.64	0.75	F
T	0.32	0.4	0.35	-0.65		0.4	-0.65	-0.59	-0.39	-0.56	T
A	-0.23	0.03	0.26	0.13	0.4		-0.57	-0.3	-0.1	-0.13	A
CRM	0.29	-0.06	-0.17	0.33	-0.65	-0.57		0.52	0.22	0.3	CRM
JPM	-0.23	-0.5	-0.51	0.59	-0.59	-0.3	0.52		0.64	0.65	JPM
MRK	-0.39	-0.84	-0.8	0.64	-0.39	-0.1	0.22	0.64		0.77	MRK
XOM	-0.52	-0.64	-0.56	0.75	-0.56	-0.13	0.3	0.65	0.77		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.77	MRK
UBER	+ 0.75	MSFT
XOM	+ 0.75	F
XOM	+ 0.65	JPM
MRK	+ 0.64	F
MRK	+ 0.64	JPM

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.8	UBER
CRM	- 0.65	T
T	- 0.65	F
XOM	- 0.64	MSFT
JPM	- 0.59	T

Northern Lights Competition Risk-Adjusted Indicators

There is a big difference between Northern Etf performing well and Northern Lights ETF 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 Northern Lights' 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
META	1.36	(0.21)	0.00	(0.14)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.91	(0.13)	0.00	1.12	0.00	0.00	1.78	(2.50)	5.08
UBER	1.53	(0.32)	0.00	(0.22)	0.00	0.00	2.60	(3.82)	10.23
F	1.48	0.09	0.07	0.15	1.69	(1.61)	3.38	(2.63)	16.30
T	0.92	(0.16)	0.00	(0.68)	0.00	0.00	1.61	(1.92)	5.75
A	1.13	(0.02)	0.00	0.07	1.29	(1.22)	2.34	(2.22)	6.50
CRM	1.54	0.08	0.03	0.17	1.96	(1.53)	3.66	(2.92)	9.91
JPM	1.08	0.03	0.04	0.11	1.37	(1.14)	2.34	(1.91)	7.02
MRK	1.21	0.24	0.17	0.38	1.10	(1.50)	3.59	(1.98)	8.09
XOM	0.97	0.12	0.04	0.62	1.00	(1.05)	2.10	(1.51)	4.99

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