Northern California Correlations

NCITX Fund

USD 9.94 0.03 0.30%

The current 90-days correlation between Northern California and Absolute Convertible Arbitrage is 0.1 (i.e., Average diversification). The correlation of Northern California 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 California Correlation With Market

Very good diversification

The correlation between Northern California Intermedia and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern California Intermedia 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 California Intermediate. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Northern Mutual Fund

0.96	VCAIX	Vanguard California	Pair Corr
0.9	VCADX	Vanguard California	Pair Corr
0.85	MKCMX	Blackrock California	Pair Corr
0.91	MACMX	Brf Clf Mpl	Pair Corr
0.98	BCIYX	California Intermediate-ter	Pair Corr
0.88	BCITX	California Intermediate-ter	Pair Corr
0.66	BXEAX	Barings Emerging Markets	Pair Corr

Moving against Northern Mutual Fund

0.51	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.51	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.51	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.51	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.51	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.5	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.5	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.42	WCPSX	Mobile Telecommunicatio	Pair Corr
0.42	AMEIX	Equity Growth	Pair Corr
0.41	LGPIX	Large Cap Growth	Pair Corr
0.36	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.36	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.36	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.55	FSRBX	Banking Portfolio Banking	Pair Corr
0.5	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.4	SDGTX	Deutsche Capital Growth	Pair Corr
0.39	TEGYX	Mid Cap Growth	Pair Corr
0.39	WCEYX	Ivy E Equity	Pair Corr
0.36	NAESX	Vanguard Small Cap	Pair Corr
0.36	VFMFX	Vanguard Multifactor	Pair Corr
0.35	VSEQX	Vanguard Strategic Equity	Pair Corr
0.33	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.32	HFCGX	Hennessy Nerstone Growth	Pair Corr
0.32	PRDSX	T Rowe Price	Pair Corr

Related Correlations Analysis

	ARBOX	FSAWX	GCV	VAADX	PBXIX	CCD	AVK
ARBOX		0.96	-0.1	0.88	0.92	0.52	0.14	ARBOX
FSAWX	0.96		0.05	0.93	0.92	0.36	0.33	FSAWX
GCV	-0.1	0.05		0.11	0.01	-0.44	0.52	GCV
VAADX	0.88	0.93	0.11		0.97	0.31	0.48	VAADX
PBXIX	0.92	0.92	0.01	0.97		0.48	0.38	PBXIX
CCD	0.52	0.36	-0.44	0.31	0.48		-0.19	CCD
AVK	0.14	0.33	0.52	0.48	0.38	-0.19		AVK
	ARBOX	FSAWX	GCV	VAADX	PBXIX	CCD	AVK

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PBXIX	+ 0.97	VAADX
FSAWX	+ 0.96	ARBOX
VAADX	+ 0.93	FSAWX
PBXIX	+ 0.92	ARBOX
PBXIX	+ 0.92	FSAWX
VAADX	+ 0.88	ARBOX

High negative correlations

CCD	- 0.44	GCV
AVK	- 0.19	CCD
GCV	- 0.1	ARBOX

Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern California Mutual Fund 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 California's 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
ARBOX	0.05	0.02	0.00	5.95	0.00	0.00	0.09	0.00	0.26
FSAWX	0.08	0.04	(0.72)	3.43	0.00	(0.13)	0.19	(0.09)	0.46
GCV	0.90	0.09	0.00	0.42	1.23	(0.93)	1.87	(1.80)	7.45
VAADX	0.44	0.09	0.07	0.28	0.21	(0.53)	1.09	(0.84)	2.28
PBXIX	0.31	0.05	(0.06)	0.23	0.00	(0.41)	0.87	(0.55)	1.94
CCD	0.75	(0.03)	(0.10)	0.06	0.92	(0.83)	1.88	(1.68)	4.88
AVK	0.64	0.01	(0.08)	0.16	0.82	(0.74)	1.43	(1.03)	5.25

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC