Northern Mid Correlations

NOMIX Fund

USD 21.55 0.01 0.05%

The current 90-days correlation between Northern Mid Cap and Northern Small Cap is 0.93 (i.e., Almost no diversification). The correlation of Northern Mid 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 Mid Correlation With Market

Average diversification

The correlation between Northern Mid Cap and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Mid Cap 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 Mid Cap. 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

0.79	VIMAX	Vanguard Mid Cap	Pair Corr
0.79	VIMSX	Vanguard Mid Cap	Pair Corr
0.79	VMCPX	Vanguard Mid Cap	Pair Corr
0.79	VMCIX	Vanguard Mid Cap	Pair Corr
0.76	VEXAX	Vanguard Extended Market	Pair Corr
0.76	VEMPX	Vanguard Extended Market	Pair Corr
0.76	VIEIX	Vanguard Extended Market	Pair Corr
0.76	VSEMX	Vanguard Extended Market	Pair Corr
0.76	VEXMX	Vanguard Extended Market	Pair Corr
0.75	FSMAX	Fidelity Extended Market	Pair Corr
0.84	WHIYX	Ivy High Income	Pair Corr
0.83	IVHIX	Ivy High Income	Pair Corr
0.83	IHIFX	Ivy High Income	Pair Corr
0.86	WRHIX	Ivy High Income	Pair Corr
0.83	WHIAX	Ivy High Income	Pair Corr
0.92	CSJZX	Cohen Steers Realty	Pair Corr
0.92	CSRSX	Cohen Steers Realty	Pair Corr
0.67	HICSX	Harbor Vertible Secu	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.65	CVX	Chevron Corp	Pair Corr
0.66	XOM	Exxon Mobil Corp	Pair Corr

Moving against Northern Mutual Fund

0.54	CFRCX	Catalyst/princeton	Pair Corr
0.65	PFE	Pfizer Inc	Pair Corr
0.62	BA	Boeing	Pair Corr

Related Correlations Analysis

	NSIDX	NOINX	NOSIX	NOEMX	NGREX
NSIDX		0.29	0.72	0.62	0.94	NSIDX
NOINX	0.29		0.74	0.68	0.39	NOINX
NOSIX	0.72	0.74		0.79	0.72	NOSIX
NOEMX	0.62	0.68	0.79		0.62	NOEMX
NGREX	0.94	0.39	0.72	0.62		NGREX
	NSIDX	NOINX	NOSIX	NOEMX	NGREX

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Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern Mid 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 Mid'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
NSIDX	0.97	(0.18)	0.00	(0.42)	0.00	0.00	1.71	(1.76)	7.13
NOINX	0.56	0.02	(0.05)	0.14	0.71	(0.63)	1.16	(1.24)	3.47
NOSIX	0.61	(0.03)	(0.09)	(0.02)	0.94	(0.56)	1.09	(1.39)	3.75
NOEMX	0.60	(0.07)	0.00	(0.13)	0.00	0.00	1.15	(1.41)	3.05
NGREX	0.64	(0.10)	0.00	(0.15)	0.00	0.00	1.25	(1.34)	4.19

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