Northern Technologies Correlations

NTIC Stock

USD 8.99 0.04 0.44%

The current 90-days correlation between Northern Technologies and Loop Industries is 0.21 (i.e., Modest 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

Poor diversification

The correlation between Northern Technologies and DJI is 0.73 (i.e., Poor 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.

Build AI portfolio with Northern Stock

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

0.63	CE	Celanese Earnings Call Tomorrow	Pair Corr
0.84	EMSN	EMS CHEMIE HOLDING	Pair Corr
0.73	2CU	Chemours Earnings Call This Week	Pair Corr
0.73	22E	TRI CHEMICAL LABORATINC	Pair Corr
0.62	AFW	Align Technology	Pair Corr
0.65	K1W	Kronos Worldwide	Pair Corr
0.82	FMV	First Majestic Silver Earnings Call This Week	Pair Corr
0.77	18RA	Select Energy Services Earnings Call Tomorrow	Pair Corr
0.81	PY9	Avient	Pair Corr
0.61	NPV	Nippon Carbon	Pair Corr
0.7	OCT	Innospec Earnings Call Tomorrow	Pair Corr
0.83	ALB	Albemarle Corp	Pair Corr
0.63	ASH	Ashland Global Holdings	Pair Corr
0.67	ECL	Ecolab Inc	Pair Corr
0.76	ESI	Element Solutions	Pair Corr
0.66	IFF	International Flavors	Pair Corr

Moving against Northern Stock

0.66	M5S	Marna Beteiligungen	Pair Corr
0.59	NANO	Nano One Materials	Pair Corr
0.44	UT8	Uber Technologies	Pair Corr
0.46	GIN1	Givaudan SA	Pair Corr
0.71	NEU	NewMarket	Pair Corr
0.6	FSI	Flexible Solutions	Pair Corr

Related Correlations Analysis

	LOOP	ALTO	TSE	LGO	KBSX	ORGN	AGRZ	PZG	FSI
LOOP		-0.3	0.12	0.68	-0.46	-0.17	-0.3	0.61	-0.28	LOOP
ALTO	-0.3		-0.79	0.27	-0.33	-0.66	-0.39	0.3	-0.55	ALTO
TSE	0.12	-0.79		-0.48	0.59	0.83	0.7	-0.56	0.77	TSE
LGO	0.68	0.27	-0.48		-0.63	-0.64	-0.68	0.85	-0.66	LGO
KBSX	-0.46	-0.33	0.59	-0.63		0.76	0.63	-0.83	0.76	KBSX
ORGN	-0.17	-0.66	0.83	-0.64	0.76		0.89	-0.63	0.74	ORGN
AGRZ	-0.3	-0.39	0.7	-0.68	0.63	0.89		-0.6	0.6	AGRZ
PZG	0.61	0.3	-0.56	0.85	-0.83	-0.63	-0.6		-0.75	PZG
FSI	-0.28	-0.55	0.77	-0.66	0.76	0.74	0.6	-0.75		FSI
	LOOP	ALTO	TSE	LGO	KBSX	ORGN	AGRZ	PZG	FSI

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

AGRZ	+ 0.89	ORGN
PZG	+ 0.85	LGO
ORGN	+ 0.83	TSE
FSI	+ 0.77	TSE
ORGN	+ 0.76	KBSX
FSI	+ 0.76	KBSX

High negative correlations

PZG	- 0.83	KBSX
TSE	- 0.79	ALTO
FSI	- 0.75	PZG
AGRZ	- 0.68	LGO
FSI	- 0.66	LGO
ORGN	- 0.66	ALTO

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
LOOP	3.00	(0.11)	(0.01)	0.01	4.27	(2.94)	6.74	(6.14)	18.15
ALTO	3.76	0.80	0.20	0.76	3.61	(4.63)	9.38	(6.27)	23.99
TSE	5.71	(1.55)	0.00	(0.42)	0.00	0.00	11.11	(11.46)	53.43
LGO	4.47	0.33	0.09	0.15	5.26	(5.16)	11.31	(7.52)	38.51
KBSX	1.68	(0.43)	0.00	(0.44)	0.00	0.00	6.67	(4.03)	14.07
ORGN	4.44	(1.99)	0.00	(0.71)	0.00	0.00	6.82	(8.70)	30.08
AGRZ	10.47	(1.81)	0.00	(0.39)	0.00	0.00	22.75	(25.00)	70.40
PZG	4.16	1.22	0.24	(2.54)	3.44	(5.28)	13.11	(6.72)	33.96
FSI	2.22	(0.66)	0.00	(0.44)	0.00	0.00	3.80	(4.99)	13.14

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

CFO Secretary

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