Northern Fixed Correlations

Mutual Funds . USA . 
Fund . Northern Fixed Income
NOFIX Fund  USD 9.13  0.02  0.22%   
The current 90-days correlation between Northern Fixed Income and Blackrock High Yield is 0.11 (i.e., Average diversification). The correlation of Northern Fixed 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 Fixed Correlation With Market

Poor diversification

The correlation between Northern Fixed Income and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Fixed Income 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 Fixed Income. 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

  0.97NOBOX Northern Bond IndexPairCorr
  0.99NOCBX Northern E BondPairCorr
  0.86NOAZX Northern Arizona TaxPairCorr
  0.73NOEMX Northern Emerging MarketsPairCorr
  0.77NOIEX Northern Income EquityPairCorr
  0.79NOIGX Northern InternationalPairCorr
  0.78NOINX Northern InternationalPairCorr
  0.84NOITX Northern IntermediatePairCorr
  0.75NOMIX Northern Mid CapPairCorr
  0.69NOLCX Northern Large CapPairCorr
  0.75NOLVX Northern Large CapPairCorr
  0.82NOTEX Northern Tax ExemptPairCorr
  0.62NOSIX Northern Stock IndexPairCorr
  0.69NOSGX Northern Small CapPairCorr
  0.8NOUGX Northern GovernmentPairCorr
  0.87BSBAX Northern Short BondPairCorr
  0.82BBALX Northern Global TacticalPairCorr
  0.71NSCKX Northern Small CapPairCorr
  0.68NSIDX Northern Small CapPairCorr
  0.69NSGRX Northern Small CapPairCorr
  0.9NSIUX Northern Short-intermediaPairCorr
  0.82NSITX Northern Short-intermediaPairCorr
  0.71NSRKX Northern Global SustPairCorr
  0.71NSRIX Northern Global SustPairCorr
  0.82NTAUX Northern Tax AdvantagedPairCorr
  0.83SWSFX Ultra Short FixedPairCorr
  0.86NCATX Northern California TaxPairCorr
  0.8NCITX Northern CaliforniaPairCorr
  0.66NUEIX Northern Quality EsgPairCorr
  0.67NUESX Northern Quality EsgPairCorr
  0.79NUSFX Northern Ultra ShortPairCorr
  0.83NGREX Northern Global RealPairCorr
  0.77NHFIX Northern High YieldPairCorr
  0.86NMFIX Multi Manager GlobalPairCorr
  0.75NMIEX Active M InternationalPairCorr
  0.75NMHYX Multi Manager HighPairCorr
  0.79NMMGX Multi Manager GlobalPairCorr
  0.72NMMEX Active M EmergingPairCorr
  0.96DODIX Dodge IncomePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern Fixed 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 Fixed'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.

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