Northern Lights Correlations

THY Etf

USD 22.28 0.04 0.18%

The current 90-days correlation between Northern Lights and Strategy Shares is 0.24 (i.e., Modest diversification). The correlation of Northern Lights 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 Lights Correlation With Market

Modest diversification

The correlation between Northern Lights and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Lights and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Northern Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Northern Lights. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

For more information on how to buy Northern Etf please use our How to Invest in Northern Lights guide.

Moving together with Northern Etf

0.77	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.72	FBL	GraniteShares 15x Long	Pair Corr
0.64	DAPP	VanEck Digital Trans	Pair Corr
0.65	BA	Boeing	Pair Corr
0.72	MSFT	Microsoft Sell-off Trend	Pair Corr
0.72	HD	Home Depot	Pair Corr

Moving against Northern Etf

0.34	HYLS	First Trust Tactical	Pair Corr
0.34	HYDW	Xtrackers Low Beta	Pair Corr
0.67	KO	Coca Cola	Pair Corr
0.6	JNJ	Johnson Johnson	Pair Corr
0.57	DD	Dupont De Nemours	Pair Corr
0.43	TRV	The Travelers Companies	Pair Corr
0.37	MMM	3M Company	Pair Corr
0.36	WMT	Walmart Common Stock Sell-off Trend	Pair Corr

Related Correlations Analysis

	SSFI	LRNZ	FDAT	AUGT	CEFZ	XHYF	ITDB	CCSO	HERZ	EGGY
SSFI		-0.03	0.03	0.42	0.28	0.43	0.46	0.01	0.29	-0.22	SSFI
LRNZ	-0.03		0.28	0.1	0.08	-0.1	0.31	0.4	-0.37	0.49	LRNZ
FDAT	0.03	0.28		0.27	0.36	0.06	0.47	0.93	-0.23	0.72	FDAT
AUGT	0.42	0.1	0.27		0.8	0.91	0.87	0.09	0.67	-0.23	AUGT
CEFZ	0.28	0.08	0.36	0.8		0.8	0.88	0.21	0.67	-0.14	CEFZ
XHYF	0.43	-0.1	0.06	0.91	0.8		0.8	-0.13	0.82	-0.48	XHYF
ITDB	0.46	0.31	0.47	0.87	0.88	0.8		0.31	0.51	-0.02	ITDB
CCSO	0.01	0.4	0.93	0.09	0.21	-0.13	0.31		-0.4	0.83	CCSO
HERZ	0.29	-0.37	-0.23	0.67	0.67	0.82	0.51	-0.4		-0.72	HERZ
EGGY	-0.22	0.49	0.72	-0.23	-0.14	-0.48	-0.02	0.83	-0.72		EGGY
	SSFI	LRNZ	FDAT	AUGT	CEFZ	XHYF	ITDB	CCSO	HERZ	EGGY

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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

CCSO	+ 0.93	FDAT
XHYF	+ 0.91	AUGT
ITDB	+ 0.88	CEFZ
ITDB	+ 0.87	AUGT
EGGY	+ 0.83	CCSO
HERZ	+ 0.82	XHYF

High negative correlations

EGGY	- 0.72	HERZ
EGGY	- 0.48	XHYF
HERZ	- 0.4	CCSO
HERZ	- 0.37	LRNZ
EGGY	- 0.23	AUGT
HERZ	- 0.23	FDAT

Northern Lights Constituents Risk-Adjusted Indicators

There is a big difference between Northern Etf performing well and Northern Lights ETF 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 Lights' 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
SSFI	0.16	0.00	(0.30)	0.02	0.18	(0.19)	0.33	(0.33)	1.17
LRNZ	1.34	0.05	(0.01)	0.45	1.59	(1.41)	3.39	(3.23)	8.04
FDAT	0.63	(0.01)	(0.08)	0.03	0.83	(0.61)	1.07	(1.19)	3.89
AUGT	0.32	(0.01)	(0.08)	0.05	0.47	(0.30)	0.63	(0.83)	1.95
CEFZ	0.48	0.03	(0.05)	0.81	0.64	(0.52)	1.02	(1.12)	3.90
XHYF	0.14	0.00	(0.32)	0.08	0.07	(0.17)	0.29	(0.24)	1.05
ITDB	0.31	0.02	(0.10)	0.21	0.38	(0.29)	0.59	(0.59)	1.69
CCSO	1.20	0.01	(0.03)	0.10	1.55	(1.17)	1.67	(2.47)	6.64
HERZ	2.04	0.75	0.33	6.31	1.11	(3.43)	4.76	(2.27)	36.34
EGGY	1.37	(0.09)	0.00	(0.64)	0.00	0.00	2.45	(3.80)	8.04

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