Northern High Correlations

NHFIX Fund

USD 6.08 0.01 0.16%

The current 90-days correlation between Northern High Yield and Northern Emerging Markets is 0.06 (i.e., Significant diversification). The correlation of Northern High 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 High Correlation With Market

Modest diversification

The correlation between Northern High Yield and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern High Yield 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 High Yield. 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 gross domestic product.

Moving together with Northern Mutual Fund

0.64	NOAZX	Northern Arizona Tax	Pair Corr
0.81	NOIEX	Northern Income Equity	Pair Corr
0.7	NOITX	Northern Intermediate	Pair Corr
0.65	NOTEX	Northern Tax Exempt	Pair Corr
0.76	NOSIX	Northern Stock Index	Pair Corr
0.79	BSBAX	Northern Short Bond	Pair Corr
0.81	NSITX	Northern Short-intermedia	Pair Corr
0.77	NTAUX	Northern Tax Advantaged	Pair Corr
0.67	NCATX	Northern California Tax	Pair Corr
0.62	NCITX	Northern California	Pair Corr
0.82	NUEIX	Northern Quality Esg	Pair Corr
0.82	NUESX	Northern Quality Esg	Pair Corr
0.62	NUSFX	Northern Ultra Short	Pair Corr
0.82	NMHYX	Multi Manager High	Pair Corr

Moving against Northern Mutual Fund

0.4	NOEMX	Northern Emerging Markets	Pair Corr
0.64	GAAVX	Gmo Alternative Allo	Pair Corr
0.31	NMMEX	Active M Emerging	Pair Corr

Related Correlations Analysis

	NOEMX	NGREX	NOINX	NSIDX	NOFIX
NOEMX		0.79	0.91	0.28	0.55	NOEMX
NGREX	0.79		0.81	0.66	0.78	NGREX
NOINX	0.91	0.81		0.35	0.7	NOINX
NSIDX	0.28	0.66	0.35		0.68	NSIDX
NOFIX	0.55	0.78	0.7	0.68		NOFIX
	NOEMX	NGREX	NOINX	NSIDX	NOFIX

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Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern High 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 High'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
NOEMX	0.60	(0.13)	(0.81)	1.40	(1.50)	4.02
NGREX	0.64	(0.11)	(0.71)	1.20	(1.39)	4.34
NOINX	0.60	(0.10)	(1.79)	1.08	(1.65)	3.73
NSIDX	1.00	(0.05)	(0.23)	1.81	(1.76)	11.20
NOFIX	0.25	(0.04)	(0.39)	0.57	(0.57)	1.81

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