Northern Lights Correlations

FDLS Etf

USD 38.19 0.02 0.05%

The current 90-days correlation between Northern Lights and Rayliant Quantitative Developed is -0.1 (i.e., Good 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

Almost no diversification

The correlation between Northern Lights and DJI is 0.93 (i.e., Almost no 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 industry.

Moving together with Northern Etf

0.97	VB	Vanguard Small Cap	Pair Corr
0.98	IJR	iShares Core SP	Pair Corr
0.96	IWM	iShares Russell 2000	Pair Corr
0.96	VRTIX	Vanguard Russell 2000	Pair Corr
0.96	VTWO	Vanguard Russell 2000	Pair Corr
0.95	FNDA	Schwab Fundamental Small	Pair Corr
0.98	SPSM	SPDR Portfolio SP	Pair Corr
0.98	DFAS	Dimensional Small Cap	Pair Corr
0.98	VIOO	Vanguard SP Small	Pair Corr
0.96	PRFZ	Invesco FTSE RAFI	Pair Corr
0.77	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.9	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.73	DFEN	Direxion Daily Aerospace	Pair Corr
0.91	DGP	DB Gold Double	Pair Corr
0.91	UGL	ProShares Ultra Gold	Pair Corr
0.93	NUGT	Direxion Daily Gold	Pair Corr
0.74	DIG	ProShares Ultra Oil	Pair Corr
0.76	URNM	Sprott Uranium Miners	Pair Corr
0.93	LITL	Simplify Exchange Traded	Pair Corr
0.98	IWD	iShares Russell 1000	Pair Corr
0.86	JANH	Innovator Equity Premium	Pair Corr
0.9	AA	Alcoa Corp Downward Rally	Pair Corr
0.79	DD	Dupont De Nemours	Pair Corr
0.64	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.72	INTC	Intel Earnings Call Tomorrow	Pair Corr
0.8	MRK	Merck Company Earnings Call This Week	Pair Corr
0.64	CVX	Chevron Corp Earnings Call This Week	Pair Corr

Moving against Northern Etf

0.75	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.69	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	YSEP	SPVU	GSEU	RSPR	JPXN	QABA	EJAN	RZG	QQMG	RAYD
YSEP		0.93	0.96	0.36	0.95	0.78	0.9	0.85	0.39	0.12	YSEP
SPVU	0.93		0.96	0.15	0.84	0.9	0.86	0.82	0.3	0.01	SPVU
GSEU	0.96	0.96		0.29	0.87	0.85	0.91	0.88	0.38	0.04	GSEU
RSPR	0.36	0.15	0.29		0.37	0.06	0.31	0.49	0.12	0.31	RSPR
JPXN	0.95	0.84	0.87	0.37		0.71	0.89	0.82	0.39	0.25	JPXN
QABA	0.78	0.9	0.85	0.06	0.71		0.73	0.81	0.22	-0.01	QABA
EJAN	0.9	0.86	0.91	0.31	0.89	0.73		0.8	0.24	0.18	EJAN
RZG	0.85	0.82	0.88	0.49	0.82	0.81	0.8		0.47	0.15	RZG
QQMG	0.39	0.3	0.38	0.12	0.39	0.22	0.24	0.47		0.03	QQMG
RAYD	0.12	0.01	0.04	0.31	0.25	-0.01	0.18	0.15	0.03		RAYD
	YSEP	SPVU	GSEU	RSPR	JPXN	QABA	EJAN	RZG	QQMG	RAYD

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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

GSEU	+ 0.96	YSEP
GSEU	+ 0.96	SPVU
JPXN	+ 0.95	YSEP
SPVU	+ 0.93	YSEP
EJAN	+ 0.91	GSEU
EJAN	+ 0.9	YSEP

High negative correlations

RAYD

- 0.01

QABA

Northern Lights Constituents 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
YSEP	0.30	0.04	(0.07)	0.48	0.28	(0.34)	0.63	(0.59)	1.87
SPVU	0.58	0.08	0.04	0.35	0.50	(0.65)	1.65	(1.03)	3.13
GSEU	0.56	0.08	0.09	0.18	0.49	(0.66)	1.25	(1.11)	3.08
RSPR	0.64	(0.06)	0.00	(0.06)	0.00	0.00	1.23	(1.47)	3.48
JPXN	0.63	0.07	0.01	0.47	0.78	(0.62)	1.50	(1.53)	4.22
QABA	0.95	0.12	0.07	0.37	0.96	(1.27)	2.78	(1.23)	5.34
EJAN	0.15	0.05	(0.07)	0.37	0.00	(0.18)	0.41	(0.23)	1.67
RZG	0.88	(0.01)	0.00	0.06	1.05	(0.91)	1.86	(1.73)	4.97
QQMG	0.80	(0.03)	(0.03)	0.03	1.23	(0.72)	1.50	(2.04)	5.01
RAYD	0.72	0.03	(0.05)	(0.46)	0.89	(0.83)	1.94	(1.15)	7.93

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