Northern Fixed Correlations

Mutual Funds . USA . 
Fund . Northern Fixed Income
NOFIX Fund  USD 9.05  0.01  0.11%   
The current 90-days correlation between Northern Fixed Income and Northern Bond Index is 0.95 (i.e., Almost no 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

Average diversification

The correlation between Northern Fixed Income and DJI is 0.11 (i.e., Average 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

  0.98NOBOX Northern Bond IndexPairCorr
  0.99NOCBX Northern E BondPairCorr
  0.67NOAZX Northern Arizona TaxPairCorr
  0.67NOITX Northern IntermediatePairCorr
  0.7NOTEX Northern Tax ExemptPairCorr
  0.84NOUGX Northern GovernmentPairCorr
  0.62BSBAX Northern Short BondPairCorr
  0.61BBALX Northern Global TacticalPairCorr
  0.83NSIUX Northern Short InterPairCorr
  0.7NCATX Northern California TaxPairCorr
  0.64NCITX Northern CaliforniaPairCorr
  0.64NMFIX Multi Manager GlobalPairCorr
  0.76FIWGX Strategic AdvisersPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
NOBOX  0.15  0.01 (0.22) 0.36  0.11 
(0.20)
 0.43 
(0.32)
 0.97 
NOCBX  0.14  0.01 (0.22) 0.25  0.10 
(0.19)
 0.33 
(0.33)
 0.89 
NOAZX  0.07  0.01 (0.26) 0.46  0.00 
(0.15)
 0.21 
(0.11)
 0.63 
NOEMX  0.61  0.04  0.02  0.13  0.67 
(0.69)
 1.27 
(1.07)
 3.56 
NOFIX  0.15  0.01 (0.23) 0.28  0.09 
(0.20)
 0.33 
(0.33)
 0.89 
NOIEX  0.72  0.00 (0.01) 0.06  1.27 
(0.75)
 1.29 
(1.32)
 11.37 
NOIGX  0.52  0.07  0.06  0.15  0.60 
(0.56)
 0.99 
(1.19)
 2.78 
NOINX  0.54  0.04  0.03  0.11  0.67 
(0.56)
 1.11 
(1.12)
 2.79 
NOITX  0.06  0.01 (0.38) 0.22  0.00 
(0.14)
 0.20 
(0.10)
 0.61 
NOMIX  0.86  0.06  0.06  0.11  0.93 
(0.94)
 1.89 
(1.60)
 6.98 

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