Northern Technologies Correlations

NTIC Stock

USD 14.25 0.39 2.81%

The current 90-days correlation between Northern Technologies and Innospec is 0.5 (i.e., Very weak diversification). The correlation of Northern Technologies 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.

Northern Technologies Correlation With Market

Very weak diversification

The correlation between Northern Technologies and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Technologies 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 Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For information on how to trade Northern Stock refer to our How to Trade Northern Stock guide.

Moving together with Northern Stock

0.71	ECVT	Ecovyst	Pair Corr
0.63	WTTR	Select Energy Services	Pair Corr

Moving against Northern Stock

0.62	DNMR	Danimer Scientific	Pair Corr
0.5	ECL	Ecolab Inc	Pair Corr
0.47	EMN	Eastman Chemical	Pair Corr
0.34	ASH	Ashland Global Holdings	Pair Corr
0.64	IFF	International Flavors	Pair Corr
0.48	LIN	Linde plc Ordinary	Pair Corr
0.41	LYB	LyondellBasell Industries	Pair Corr
0.41	PPG	PPG Industries Fiscal Year End 16th of January 2025	Pair Corr
0.36	OLN	Olin Fiscal Year End 23rd of January 2025	Pair Corr
0.31	SQM	Sociedad Quimica y	Pair Corr
0.49	PTCHF	PureTech Health plc	Pair Corr
0.47	SDSTW	Stardust Power Symbol Change	Pair Corr

Related Correlations Analysis

	IOSP	FUL	KWR	MTX	ODC	SXT	ECVT	ESI
IOSP		0.01	0.74	0.84	0.64	0.69	0.78	0.67	IOSP
FUL	0.01		0.48	-0.37	-0.17	-0.11	-0.24	-0.47	FUL
KWR	0.74	0.48		0.36	0.38	0.43	0.62	0.31	KWR
MTX	0.84	-0.37	0.36		0.7	0.69	0.7	0.71	MTX
ODC	0.64	-0.17	0.38	0.7		0.74	0.48	0.55	ODC
SXT	0.69	-0.11	0.43	0.69	0.74		0.36	0.53	SXT
ECVT	0.78	-0.24	0.62	0.7	0.48	0.36		0.78	ECVT
ESI	0.67	-0.47	0.31	0.71	0.55	0.53	0.78		ESI
	IOSP	FUL	KWR	MTX	ODC	SXT	ECVT	ESI

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MTX	+ 0.84	IOSP
ECVT	+ 0.78	IOSP
ESI	+ 0.78	ECVT
KWR	+ 0.74	IOSP
SXT	+ 0.74	ODC
ESI	+ 0.71	MTX

High negative correlations

ESI	- 0.47	FUL
MTX	- 0.37	FUL
ECVT	- 0.24	FUL
ODC	- 0.17	FUL
SXT	- 0.11	FUL

Risk-Adjusted Indicators

There is a big difference between Northern Stock performing well and Northern Technologies Company 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 Technologies' 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
IOSP	1.27	(0.05)	0.04	0.06	1.30	(1.41)	2.24	(2.10)	16.32
FUL	1.04	(0.23)	0.00	(0.07)	0.00	0.00	1.79	(2.51)	8.58
KWR	1.50	(0.15)	(0.02)	0.02	1.84	(1.55)	2.37	(2.62)	18.04
MTX	1.28	(0.04)	0.03	0.07	1.32	(1.45)	2.46	(2.51)	11.90
ODC	1.32	(0.01)	0.00	0.08	1.62	(1.34)	3.14	(2.09)	12.06
SXT	1.06	(0.05)	0.00	0.06	1.24	(1.09)	2.28	(2.19)	8.84
ECVT	1.83	0.13	0.10	0.17	1.58	(2.34)	4.55	(3.08)	17.08
ESI	1.29	0.16	0.03	(0.35)	1.35	(1.51)	3.77	(1.95)	11.06

Northern Technologies Corporate Executives

Elected by the shareholders, the Northern Technologies' board of directors comprises two types of representatives: Northern Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Northern. The board's role is to monitor Northern Technologies' management team and ensure that shareholders' interests are well served. Northern Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Northern Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.

Matthew CPA

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