Northern Stock Correlations

Mutual Funds . USA . 
Fund . Northern Stock Index
NOSIX Fund  USD 68.58  0.29  0.42%   
The current 90-days correlation between Northern Stock Index and Northern Mid Cap is 0.68 (i.e., Poor diversification). The correlation of Northern Stock 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 Stock Correlation With Market

Poor diversification

The correlation between Northern Stock Index and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Stock Index 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 Stock Index. 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

  0.8NOIEX Northern Income EquityPairCorr
  0.68NOMIX Northern Mid CapPairCorr
  0.76NOLCX Northern Large CapPairCorr
  0.69NOLVX Northern Large CapPairCorr
  0.64BBALX Northern Global TacticalPairCorr
  0.69NSCKX Northern Small CapPairCorr
  0.73NSIDX Northern Small CapPairCorr
  0.69NSGRX Northern Small CapPairCorr
  0.79NSRKX Northern Global SustPairCorr
  0.79NSRIX Northern Global SustPairCorr
  0.72NUEIX Northern Quality EsgPairCorr
  0.72NUESX Northern Quality EsgPairCorr
  0.77NHFIX Northern High YieldPairCorr
  0.66NMIEX Active M InternationalPairCorr
  0.71NMHYX Multi Manager HighPairCorr
  0.99VTSAX Vanguard Total StockPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern Stock 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 Stock'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 (0.32) 1.13  0.00 
(0.23)
 0.43 
(0.22)
 0.86 
NOCBX  0.16  0.01 (0.31) 0.79  0.00 
(0.24)
 0.44 
(0.22)
 1.00 
NOAZX  0.07  0.02  0.00  1.29  0.00 
 0.00 
 0.21 
(0.10)
 0.73 
NOEMX  0.63  0.24  0.27  0.55  0.14 
(0.79)
 1.69 
(0.99)
 4.06 
NOFIX  0.15  0.02 (0.34) 1.19  0.00 
(0.24)
 0.44 
(0.22)
 0.89 
NOIEX  0.51  0.03  0.01  0.12  0.61 
(0.52)
 0.95 
(0.94)
 3.94 
NOIGX  0.47  0.18  0.21  0.40  0.16 
(0.58)
 1.09 
(0.77)
 3.22 
NOINX  0.50  0.17  0.22  0.38  0.10 
(0.61)
 1.18 
(0.83)
 2.95 
NOITX  0.08  0.03 (0.31) 2.16  0.00 
(0.14)
 0.20 
(0.10)
 0.61 
NOMIX  0.77  0.18  0.23  0.27  0.36 
(0.92)
 1.84 
(1.29)
 8.12 

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