Northern Lights Correlations

FDLS Etf

USD 31.31 0.41 1.33%

The current 90-days correlation between Northern Lights and Inspire Tactical Balanced is 0.81 (i.e., Very poor 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

Weak diversification

The correlation between Northern Lights and DJI is 0.3 (i.e., Weak 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.

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 bureau of economic analysis.

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

Moving together with Northern Etf

0.98	VO	Vanguard Mid Cap	Pair Corr
0.94	VXF	Vanguard Extended Market	Pair Corr
0.98	IJH	iShares Core SP	Pair Corr
0.98	IWR	iShares Russell Mid	Pair Corr
0.98	MDY	SPDR SP MIDCAP	Pair Corr
0.84	FV	First Trust Dorsey	Pair Corr
0.98	IVOO	Vanguard SP Mid	Pair Corr
0.98	JHMM	John Hancock Multifactor	Pair Corr
0.98	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.99	XMMO	Invesco SP MidCap	Pair Corr
0.89	RFDA	RiverFront Dynamic	Pair Corr
0.83	HD	Home Depot	Pair Corr
0.79	CVX	Chevron Corp Earnings Call Tomorrow	Pair Corr
0.76	CAT	Caterpillar Earnings Call This Week	Pair Corr

Moving against Northern Etf

0.41	BITI	ProShares Trust	Pair Corr
0.61	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	RISN	ISMD	GLRY	BIBL	BLES
RISN		0.93	0.8	0.88	0.87	RISN
ISMD	0.93		0.89	0.86	0.8	ISMD
GLRY	0.8	0.89		0.9	0.78	GLRY
BIBL	0.88	0.86	0.9		0.89	BIBL
BLES	0.87	0.8	0.78	0.89		BLES
	RISN	ISMD	GLRY	BIBL	BLES

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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
RISN	0.57	(0.03)	(0.12)	(0.01)	0.66	(0.68)	1.19	(0.86)	5.27
ISMD	0.89	0.00	(0.03)	0.08	1.11	(0.92)	1.88	(1.78)	9.99
GLRY	0.83	(0.01)	(0.03)	0.06	1.19	(0.80)	1.53	(1.43)	7.54
BIBL	0.74	(0.03)	(0.07)	0.01	1.01	(0.78)	1.49	(1.24)	7.04
BLES	0.56	(0.04)	0.00	(0.04)	0.00	0.00	1.10	(1.08)	4.13

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