Northern Lights Correlations

FFLS Etf

23.82 0.03 0.13%

The current 90-days correlation between Northern Lights and Tidal Trust II is 0.59 (i.e., Very weak 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

Very weak diversification

The correlation between Northern Lights and DJI is 0.42 (i.e., Very 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

0.91	FTLS	First Trust LongShort	Pair Corr
0.87	SENT	AdvisorShares	Pair Corr
0.75	FFHG	FFHG	Pair Corr
0.89	CLSE	Trust For Professional	Pair Corr
0.77	CLIX	ProShares Long Onlin	Pair Corr
0.92	DSJA	DSJA	Pair Corr
0.86	RSPY	Tuttle Capital Management	Pair Corr
0.82	MEME	Roundhill Investments	Pair Corr
0.77	ITDD	iShares Trust	Pair Corr
0.78	BTC	Grayscale Bitcoin Mini	Pair Corr
0.71	ETH	Grayscale Ethereum Mini	Pair Corr
0.94	EOS	Eaton Vance Enhanced	Pair Corr
0.79	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.7	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.82	BAC	Bank of America Aggressive Push	Pair Corr
0.74	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.87	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.89	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.89	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.88	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.96	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.94	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Moving against Northern Etf

0.7	LBAY	Tidal ETF Trust	Pair Corr
0.87	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.81	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.8	KO	Coca Cola Aggressive Push	Pair Corr
0.65	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	HF	MRGR	EHLS	EQLS	ESGX	FAAR	WTMF	WUSA
HF		0.55	0.08	0.03	-0.23	-0.07	-0.1	-0.57	HF
MRGR	0.55		0.57	-0.57	-0.38	-0.33	0.23	-0.6	MRGR
EHLS	0.08	0.57		-0.77	0.13	-0.41	0.78	0.03	EHLS
EQLS	0.03	-0.57	-0.77		0.11	0.25	-0.58	0.15	EQLS
ESGX	-0.23	-0.38	0.13	0.11		0.19	0.21	0.37	ESGX
FAAR	-0.07	-0.33	-0.41	0.25	0.19		-0.11	0.26	FAAR
WTMF	-0.1	0.23	0.78	-0.58	0.21	-0.11		0.33	WTMF
WUSA	-0.57	-0.6	0.03	0.15	0.37	0.26	0.33		WUSA
	HF	MRGR	EHLS	EQLS	ESGX	FAAR	WTMF	WUSA

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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

WTMF	+ 0.78	EHLS
EHLS	+ 0.57	MRGR
MRGR	+ 0.55	HF
WUSA	+ 0.37	ESGX
WUSA	+ 0.33	WTMF
WUSA	+ 0.26	FAAR

High negative correlations

EQLS	- 0.77	EHLS
WUSA	- 0.6	MRGR
WTMF	- 0.58	EQLS
EQLS	- 0.57	MRGR
WUSA	- 0.57	HF
FAAR	- 0.41	EHLS

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
HF	0.22	(0.04)	(0.34)	(0.02)	0.35	(0.22)	0.43	(0.73)	1.63
MRGR	0.14	0.01	(0.43)	(5.83)	0.20	(0.15)	0.31	(0.26)	1.61
EHLS	0.69	0.10	0.10	0.27	0.42	(0.83)	1.51	(1.11)	3.80
EQLS	0.46	(0.12)	0.00	(0.44)	0.00	0.00	0.79	(1.01)	3.13
ESGX	0.59	0.02	(0.04)	0.15	0.65	(0.61)	1.30	(1.09)	2.94
FAAR	0.37	0.00	0.00	0.13	0.00	0.00	0.72	(0.93)	2.87
WTMF	0.53	0.00	(0.11)	0.13	0.68	(0.60)	0.79	(0.87)	7.93
WUSA	0.57	0.05	(0.01)	0.22	0.61	(0.63)	1.33	(1.35)	3.23

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