Northern Lights Correlations

MDPL Etf

25.68 0.20 0.77%

The current 90-days correlation between Northern Lights and Franklin Templeton ETF is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Northern Lights moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northern Lights moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Northern Lights Correlation With Market

Weak diversification

The correlation between Northern Lights and DJI is 0.36 (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 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 american community survey.

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

Moving together with Northern Etf

0.96	VOE	Vanguard Mid Cap	Pair Corr
0.97	SDY	SPDR SP Dividend	Pair Corr
0.88	IWS	iShares Russell Mid	Pair Corr
0.97	SPYD	SPDR Portfolio SP	Pair Corr
0.87	COWZ	Pacer Cash Cows	Pair Corr
0.74	IJJ	iShares SP Mid	Pair Corr
0.85	DON	WisdomTree MidCap	Pair Corr
0.67	RPV	Invesco SP 500	Pair Corr
0.88	PEY	Invesco High Yield	Pair Corr
0.79	PKW	Invesco BuyBack Achievers	Pair Corr
0.66	PMBS	PIMCO Mortgage Backed Sell-off Trend	Pair Corr
0.75	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.77	YCL	ProShares Ultra Yen	Pair Corr
0.73	VIIX	VIIX	Pair Corr
0.76	FXY	Invesco CurrencyShares	Pair Corr
0.81	VZ	Verizon Communications	Pair Corr
0.76	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.67	PG	Procter Gamble	Pair Corr
0.66	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.87	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.77	INTC	Intel	Pair Corr
0.65	HD	Home Depot	Pair Corr

Moving against Northern Etf

0.69	TSJA	TSJA	Pair Corr
0.69	DSJA	DSJA	Pair Corr
0.76	BA	Boeing	Pair Corr
0.31	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DIEM	DIVD	DIVG	DIVI	DIVL	DIVO	DIVP	DIVY	MDPL
DIEM		0.54	0.28	0.71	0.27	0.03	0.34	0.36	0.37	DIEM
DIVD	0.54		0.8	0.82	0.84	0.55	0.88	0.78	0.72	DIVD
DIVG	0.28	0.8		0.41	0.97	0.73	0.98	0.94	0.95	DIVG
DIVI	0.71	0.82	0.41		0.49	0.36	0.52	0.52	0.37	DIVI
DIVL	0.27	0.84	0.97	0.49		0.82	0.97	0.94	0.89	DIVL
DIVO	0.03	0.55	0.73	0.36	0.82		0.69	0.83	0.63	DIVO
DIVP	0.34	0.88	0.98	0.52	0.97	0.69		0.92	0.93	DIVP
DIVY	0.36	0.78	0.94	0.52	0.94	0.83	0.92		0.9	DIVY
MDPL	0.37	0.72	0.95	0.37	0.89	0.63	0.93	0.9		MDPL
	DIEM	DIVD	DIVG	DIVI	DIVL	DIVO	DIVP	DIVY	MDPL

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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
DIEM	0.63	(0.06)	0.00	(0.10)	0.00	0.00	1.34	(1.81)	5.07
DIVD	0.52	(0.03)	(0.14)	(0.02)	0.67	(0.56)	0.89	(0.98)	3.36
DIVG	0.58	(0.04)	(0.13)	(0.03)	0.75	(0.57)	1.12	(1.12)	4.36
DIVI	0.57	(0.02)	(0.10)	0.03	0.78	(0.63)	1.34	(1.46)	3.80
DIVL	0.56	(0.02)	(0.11)	0.02	0.71	(0.59)	1.13	(0.89)	4.68
DIVO	0.46	0.03	(0.05)	0.16	0.48	(0.54)	0.94	(0.62)	4.86
DIVP	0.53	(0.06)	0.00	(0.10)	0.00	0.00	0.89	(0.99)	3.98
DIVY	0.60	(0.04)	(0.12)	(0.02)	0.76	(0.64)	1.18	(1.22)	5.22
MDPL	0.59	(0.06)	0.00	(0.10)	0.00	0.00	1.09	(1.07)	4.90

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