Northern Lights Correlations

MAMB Etf

USD 23.89 0.02 0.08%

The current 90-days correlation between Northern Lights and VictoryShares ESG Corporate is 0.07 (i.e., Significant 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

Weak diversification

The correlation between Northern Lights and DJI is 0.35 (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.

Build AI portfolio with Northern Etf

Check out Correlation 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 industry.

For information on how to trade Northern Etf refer to our How to Trade Northern Etf guide.

Moving together with Northern Etf

0.88	IUSB	iShares Core Total	Pair Corr
0.75	FIXD	First Trust TCW	Pair Corr
0.85	FBND	Fidelity Total Bond	Pair Corr
0.81	TOTL	SPDR DoubleLine Total	Pair Corr
0.83	HTRB	Hartford Total Return	Pair Corr
0.84	GTO	Invesco Total Return	Pair Corr
0.86	EUSB	iShares Trust	Pair Corr
0.85	JCPB	JPMorgan Core Plus	Pair Corr
0.68	ZSILF	ZKB Silver ETF	Pair Corr
0.83	DFCF	Dimensional ETF Trust	Pair Corr

Related Correlations Analysis

	UCRD	INMU	GBF	WEEK	SDFI	AFIF	PSCH	PSCI	JIII	LEXI
UCRD		0.38	0.93	0.2	0.49	0.27	0.36	0.42	0.44	0.33	UCRD
INMU	0.38		0.45	0.85	0.83	0.83	0.64	0.26	0.82	0.63	INMU
GBF	0.93	0.45		0.17	0.46	0.2	0.24	0.16	0.33	0.17	GBF
WEEK	0.2	0.85	0.17		0.92	0.92	0.8	0.42	0.88	0.73	WEEK
SDFI	0.49	0.83	0.46	0.92		0.87	0.81	0.48	0.87	0.69	SDFI
AFIF	0.27	0.83	0.2	0.92	0.87		0.85	0.55	0.91	0.82	AFIF
PSCH	0.36	0.64	0.24	0.8	0.81	0.85		0.72	0.84	0.79	PSCH
PSCI	0.42	0.26	0.16	0.42	0.48	0.55	0.72		0.65	0.8	PSCI
JIII	0.44	0.82	0.33	0.88	0.87	0.91	0.84	0.65		0.86	JIII
LEXI	0.33	0.63	0.17	0.73	0.69	0.82	0.79	0.8	0.86		LEXI
	UCRD	INMU	GBF	WEEK	SDFI	AFIF	PSCH	PSCI	JIII	LEXI

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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
UCRD	0.17	0.00	(0.33)	0.01	0.17	(0.18)	0.32	(0.32)	0.88
INMU	0.10	0.01	(0.47)	0.25	0.00	(0.12)	0.25	(0.17)	0.75
GBF	0.15	0.00	(0.37)	0.00	0.17	(0.15)	0.28	(0.34)	0.89
WEEK	0.03	0.00	(1.86)	(0.76)	0.00	(0.04)	0.07	(0.03)	0.22
SDFI	0.07	0.01	(0.74)	0.40	0.00	(0.10)	0.14	(0.14)	0.39
AFIF	0.15	0.01	(0.26)	0.20	0.00	(0.21)	0.32	(0.21)	0.97
PSCH	0.90	0.06	0.00	0.28	0.94	(1.08)	2.40	(1.87)	6.59
PSCI	0.98	0.02	(0.02)	0.15	1.20	(1.03)	1.85	(2.31)	4.65
JIII	0.12	0.01	(0.31)	0.19	0.00	(0.14)	0.24	(0.22)	1.29
LEXI	0.49	0.04	(0.03)	0.35	0.62	(0.45)	1.01	(1.08)	2.83

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Northern Lights Correlations

Northern Lights Correlation With Market

Weak diversification

Moving together with Northern Etf

Related Correlations Analysis

Northern Lights Constituents Risk-Adjusted Indicators

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