Northern Lights Correlations

Etfs . USA . 
Etf . Northern Lights
MSSS Etf   28.89  0.02  0.07%   
The current 90-days correlation between Northern Lights and Vanguard Mid Cap Index is -0.05 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Northern Lights Correlation With Market

Good diversification

The correlation between Northern Lights and DJI is -0.14 (i.e., Good 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 state.
For more information on how to buy Northern Etf please use our How to Invest in Northern Lights guide.

Moving together with Northern Etf

  0.64VO Vanguard Mid CapPairCorr
  0.66IWR iShares Russell MidPairCorr
  0.65MDY SPDR SP MIDCAPPairCorr
  0.63IVOO Vanguard SP MidPairCorr
  0.64JHMM John Hancock MultifactorPairCorr
  0.64BBMC JPMorgan BetaBuilders MidPairCorr
  0.65HD Home DepotPairCorr
  0.76VZ Verizon Communications Aggressive PushPairCorr
  0.61DD Dupont De NemoursPairCorr
  0.7PG Procter Gamble Sell-off TrendPairCorr

Moving against Northern Etf

  0.35USD ProShares Ultra SemiPairCorr
  0.34FNGO MicroSectors FANG IndexPairCorr
  0.47BA BoeingPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VO  0.60 (0.01)(0.02) 0.01  0.85 
(0.63)
 1.30 
(1.06)
 4.75 
VXF  0.87  0.00  0.00  0.02  1.16 
(0.94)
 1.70 
(1.42)
 6.09 
IJH  0.70 (0.04) 0.00 (0.03) 0.00 
 0.00 
 1.53 
(1.14)
 5.49 
IWR  0.64 (0.02)(0.03) 0.00  0.92 
(0.66)
 1.31 
(0.99)
 4.90 
MDY  0.71 (0.04) 0.00 (0.04) 0.00 
 0.00 
 1.61 
(1.17)
 5.55 
FV  0.80  0.01  0.01  0.04  1.09 
(0.79)
 1.42 
(1.50)
 5.48 
IVOO  0.71 (0.04) 0.00 (0.03) 0.00 
 0.00 
 1.61 
(1.26)
 5.48 
JHMM  0.64 (0.03) 0.00 (0.02) 0.00 
 0.00 
 1.38 
(1.01)
 5.08 
BBMC  0.76 (0.01)(0.02) 0.00  1.09 
(0.73)
 1.43 
(1.21)
 5.63 
XMMO  0.85 (0.01)(0.01) 0.01  1.27 
(0.79)
 1.73 
(1.70)
 5.86 

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