Northern Lights Correlations

IBD Etf

USD 24.14 0.10 0.42%

The current 90-days correlation between Northern Lights and iShares JP Morgan is -0.19 (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.

Northern Lights Correlation With Market

Poor diversification

The correlation between Northern Lights and DJI is 0.72 (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 Risk vs Return Analysis 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 labor statistics.

Moving together with Northern Etf

0.62	LQD	iShares iBoxx Investment	Pair Corr
0.84	IGIB	iShares 5 10	Pair Corr
0.77	USIG	iShares Broad USD	Pair Corr
0.92	SPIB	SPDR Barclays Interm	Pair Corr
0.73	SUSC	iShares ESG USD	Pair Corr
0.73	QLTA	iShares Aaa	Pair Corr
0.76	CORP	PIMCO Investment Grade	Pair Corr
0.75	FLCO	Franklin Liberty Inv	Pair Corr
0.73	GIGB	Goldman Sachs Access	Pair Corr
0.74	VTC	Vanguard Total Corporate	Pair Corr
0.64	AGQ	ProShares Ultra Silver	Pair Corr
0.74	JNUG	Direxion Daily Junior	Pair Corr
0.73	NUGT	Direxion Daily Gold	Pair Corr
0.78	GGLL	Direxion Daily GOOGL	Pair Corr
0.86	AHYB	American Century ETF	Pair Corr
0.79	OASC	OneAscent Small Cap	Pair Corr
0.68	VBK	Vanguard Small Cap	Pair Corr
0.69	RDIV	Invesco SP Ultra	Pair Corr
0.84	BINC	BlackRock ETF Trust	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.74	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against Northern Etf

0.66	FNGO	MicroSectors FANG Index	Pair Corr
0.58	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.47	NVDL	GraniteShares 15x Long	Pair Corr
0.6	MSFT	Microsoft	Pair Corr
0.33	MMM	3M Company	Pair Corr

Related Correlations Analysis

	WWJD	HYEM	BGRN	NUBD	HYGH	IBTL	XEMD	FDHY	VFQY	LEMB
WWJD		0.95	0.77	0.59	0.94	0.07	0.92	0.9	0.85	0.95	WWJD
HYEM	0.95		0.81	0.64	0.93	0.13	0.92	0.92	0.83	0.96	HYEM
BGRN	0.77	0.81		0.93	0.85	0.61	0.88	0.91	0.8	0.85	BGRN
NUBD	0.59	0.64	0.93		0.65	0.74	0.73	0.75	0.6	0.68	NUBD
HYGH	0.94	0.93	0.85	0.65		0.19	0.96	0.96	0.94	0.94	HYGH
IBTL	0.07	0.13	0.61	0.74	0.19		0.34	0.36	0.21	0.24	IBTL
XEMD	0.92	0.92	0.88	0.73	0.96	0.34		0.97	0.91	0.96	XEMD
FDHY	0.9	0.92	0.91	0.75	0.96	0.36	0.97		0.9	0.94	FDHY
VFQY	0.85	0.83	0.8	0.6	0.94	0.21	0.91	0.9		0.84	VFQY
LEMB	0.95	0.96	0.85	0.68	0.94	0.24	0.96	0.94	0.84		LEMB
	WWJD	HYEM	BGRN	NUBD	HYGH	IBTL	XEMD	FDHY	VFQY	LEMB

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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
WWJD	0.53	0.11	0.07	4.60	0.55	(0.56)	1.15	(1.21)	3.08
HYEM	0.19	0.02	(0.10)	0.62	0.20	(0.20)	0.46	(0.36)	1.37
BGRN	0.10	(0.01)	(0.43)	(0.03)	0.08	(0.11)	0.23	(0.21)	0.57
NUBD	0.13	(0.01)	(0.34)	(0.07)	0.13	(0.16)	0.27	(0.27)	0.76
HYGH	0.16	0.02	(0.19)	0.64	0.00	(0.18)	0.33	(0.27)	0.77
IBTL	0.13	(0.01)	(0.32)	(0.09)	0.13	(0.15)	0.25	(0.24)	0.78
XEMD	0.16	0.03	(0.12)	0.75	0.00	(0.20)	0.36	(0.30)	1.11
FDHY	0.13	0.02	(0.17)	0.19	0.00	(0.15)	0.29	(0.27)	0.85
VFQY	0.63	0.05	0.00	0.55	0.74	(0.63)	1.53	(1.35)	3.88
LEMB	0.17	0.06	0.04	0.56	0.00	(0.18)	0.44	(0.33)	1.39

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