Northern Lights Correlations

MPRO Etf

USD 31.44 0.03 0.1%

The current 90-days correlation between Northern Lights and STF Tactical Growth is -0.12 (i.e., Good 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

Poor diversification

The correlation between Northern Lights and DJI is 0.7 (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 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 main economic indicators.

Moving together with Northern Etf

0.82	HF	DGA Core Plus	Pair Corr
0.72	OCIO	ClearShares OCIO ETF	Pair Corr
0.68	MFUL	Collaborative Investment	Pair Corr
0.76	RULE	Collaborative Investment	Pair Corr
0.88	UPAR	Tidal ETF Trust	Pair Corr
0.68	CLSM	Cabana Target Leading	Pair Corr
0.67	MSMR	ETF Series Solutions Low Volatility	Pair Corr
0.82	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.83	GDXU	MicroSectors Gold Miners Trending	Pair Corr
0.82	JNUG	Direxion Daily Junior	Pair Corr
0.83	NUGT	Direxion Daily Gold	Pair Corr
0.73	EEMX	SPDR MSCI Emerging	Pair Corr
0.67	LITL	Simplify Exchange Traded	Pair Corr
0.62	JANH	Innovator Equity Premium	Pair Corr
0.73	LIT	Global X Lithium	Pair Corr
0.84	IWD	iShares Russell 1000	Pair Corr
0.78	BA	Boeing Earnings Call Today	Pair Corr
0.71	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.74	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.67	INTC	Intel Earnings Call Tomorrow	Pair Corr
0.75	MRK	Merck Company Earnings Call This Week	Pair Corr
0.75	JNJ	Johnson Johnson	Pair Corr

Moving against Northern Etf

0.68	FNGO	MicroSectors FANG Index	Pair Corr
0.49	NVDL	GraniteShares 15x Long	Pair Corr
0.67	HPQ	HP Inc	Pair Corr
0.46	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	TOGA	PIN	QVMS	YOKE	MGNR	EFAA	BFEB	UMAR	SPUU	TUG
TOGA		-0.02	0.4	0.54	0.16	0.37	0.48	0.44	0.69	0.53	TOGA
PIN	-0.02		-0.78	-0.6	-0.81	-0.69	-0.68	-0.7	-0.4	-0.19	PIN
QVMS	0.4	-0.78		0.89	0.89	0.86	0.91	0.91	0.73	0.36	QVMS
YOKE	0.54	-0.6	0.89		0.82	0.88	0.91	0.88	0.85	0.53	YOKE
MGNR	0.16	-0.81	0.89	0.82		0.93	0.89	0.9	0.6	0.35	MGNR
EFAA	0.37	-0.69	0.86	0.88	0.93		0.91	0.92	0.7	0.48	EFAA
BFEB	0.48	-0.68	0.91	0.91	0.89	0.91		0.99	0.86	0.5	BFEB
UMAR	0.44	-0.7	0.91	0.88	0.9	0.92	0.99		0.81	0.45	UMAR
SPUU	0.69	-0.4	0.73	0.85	0.6	0.7	0.86	0.81		0.72	SPUU
TUG	0.53	-0.19	0.36	0.53	0.35	0.48	0.5	0.45	0.72		TUG
	TOGA	PIN	QVMS	YOKE	MGNR	EFAA	BFEB	UMAR	SPUU	TUG

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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

UMAR	+ 0.99	BFEB
EFAA	+ 0.93	MGNR
UMAR	+ 0.92	EFAA
BFEB	+ 0.91	QVMS
UMAR	+ 0.91	QVMS
BFEB	+ 0.91	YOKE

High negative correlations

MGNR	- 0.81	PIN
QVMS	- 0.78	PIN
UMAR	- 0.7	PIN
EFAA	- 0.69	PIN
BFEB	- 0.68	PIN
YOKE	- 0.6	PIN

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
TOGA	0.80	(0.15)	0.00	(0.08)	0.00	0.00	1.38	(2.18)	4.48
PIN	0.64	(0.12)	0.00	(1.55)	0.00	0.00	1.11	(1.20)	3.81
QVMS	0.82	0.01	0.03	0.08	0.85	(0.96)	2.11	(1.57)	4.91
YOKE	0.61	0.00	(0.02)	0.07	0.76	(0.59)	1.16	(1.36)	2.99
MGNR	1.13	0.30	0.14	0.98	1.41	(1.17)	2.17	(2.16)	6.14
EFAA	0.42	0.07	0.02	1.13	0.41	(0.47)	0.95	(0.79)	2.80
BFEB	0.32	0.02	(0.04)	0.10	0.42	(0.33)	0.73	(0.71)	2.51
UMAR	0.18	0.01	(0.15)	0.11	0.13	(0.19)	0.39	(0.38)	1.26
SPUU	1.10	(0.03)	0.01	0.05	1.63	(1.02)	2.29	(2.39)	7.03
TUG	0.78	0.02	(0.04)	0.24	1.11	(0.73)	1.38	(1.95)	5.00

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