Northern Lights Correlations

THY Etf

USD 22.20 0.01 0.04%

The current 90-days correlation between Northern Lights and Sycamore Entmt Grp is -0.26 (i.e., Very good 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

Almost no diversification

The correlation between Northern Lights and DJI is 0.9 (i.e., Almost no 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.

Moving together with Northern Etf

0.92	HYG	iShares iBoxx High Sell-off Trend	Pair Corr
0.93	USHY	iShares Broad USD	Pair Corr
0.92	JNK	SPDR Bloomberg High Sell-off Trend	Pair Corr
0.9	SHYG	iShares 0 5 Sell-off Trend	Pair Corr
0.92	HYLB	Xtrackers USD High Sell-off Trend	Pair Corr
0.9	SJNK	SPDR Bloomberg Short Sell-off Trend	Pair Corr
0.92	ANGL	VanEck Fallen Angel Sell-off Trend	Pair Corr
0.92	FALN	iShares Fallen Angels	Pair Corr
0.74	HYLS	First Trust Tactical	Pair Corr
0.89	HYDW	Xtrackers Low Beta	Pair Corr
0.9	MUU	Direxion Daily MU Downward Rally	Pair Corr
0.9	MULL	GraniteShares 2x Long	Pair Corr
0.91	KORU	Direxion Daily South	Pair Corr
0.77	GDXU	MicroSectors Gold Miners	Pair Corr
0.81	JNUG	Direxion Daily Junior	Pair Corr
0.7	FNGD	MicroSectors FANG Index	Pair Corr
0.83	NUGT	Direxion Daily Gold	Pair Corr
0.74	BWET	ETF Managers Group	Pair Corr
0.79	SHNY	Microsectors Gold	Pair Corr
0.85	XFIX	Fm Investments Symbol Change	Pair Corr
0.94	EWT	iShares MSCI Taiwan	Pair Corr
0.89	GAPR	First Trust Exchange	Pair Corr
0.92	PFF	iShares Preferred	Pair Corr
0.85	PSFD	Pacer Swan SOS	Pair Corr
0.86	PFFA	Virtus InfraCap Preferred	Pair Corr
0.92	JEPI	JPMorgan Equity Premium	Pair Corr
0.96	IRTR	iShares Trust	Pair Corr
0.66	FXC	Invesco CurrencyShares	Pair Corr
0.94	NBCE	Neuberger Berman ETF	Pair Corr
0.93	IQSZ	Invesco Actively Managed	Pair Corr
0.85	XYLD	Global X SP	Pair Corr
0.92	BMVP	Invesco Bloomberg MVP	Pair Corr
0.91	SCDV	ETF Series Solutions	Pair Corr
0.94	PCEM	Litman Gregory Funds	Pair Corr
0.94	FIDU	Fidelity MSCI Industrials	Pair Corr
0.88	SPVM	Invesco SP 500	Pair Corr
0.86	IAUM	iShares Gold Trust	Pair Corr
0.87	SIXJ	AIM ETF Products	Pair Corr

Related Correlations Analysis

	REFA	MSTSX	LBHIX	VIASP	RRTLX	WQTM	OSHDF	SITKF	RWAYL	SEGI
REFA		-0.31	-0.34	-0.11	-0.22	-0.18	0.0	-0.07	-0.14	0.03	REFA
MSTSX	-0.31		0.83	0.9	0.99	0.58	0.0	-0.54	0.87	-0.6	MSTSX
LBHIX	-0.34	0.83		0.77	0.86	0.59	0.0	-0.63	0.85	-0.51	LBHIX
VIASP	-0.11	0.9	0.77		0.92	0.51	0.0	-0.67	0.89	-0.66	VIASP
RRTLX	-0.22	0.99	0.86	0.92		0.6	0.0	-0.6	0.91	-0.6	RRTLX
WQTM	-0.18	0.58	0.59	0.51	0.6		0.0	-0.21	0.39	-0.26	WQTM
OSHDF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	OSHDF
SITKF	-0.07	-0.54	-0.63	-0.67	-0.6	-0.21	0.0		-0.73	0.48	SITKF
RWAYL	-0.14	0.87	0.85	0.89	0.91	0.39	0.0	-0.73		-0.6	RWAYL
SEGI	0.03	-0.6	-0.51	-0.66	-0.6	-0.26	0.0	0.48	-0.6		SEGI
	REFA	MSTSX	LBHIX	VIASP	RRTLX	WQTM	OSHDF	SITKF	RWAYL	SEGI

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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

RRTLX	+ 0.99	MSTSX
RRTLX	+ 0.92	VIASP
RWAYL	+ 0.91	RRTLX
VIASP	+ 0.9	MSTSX
RWAYL	+ 0.89	VIASP
RWAYL	+ 0.87	MSTSX

High negative correlations

RWAYL	- 0.73	SITKF
SITKF	- 0.67	VIASP
SEGI	- 0.66	VIASP
SITKF	- 0.63	LBHIX
SEGI	- 0.6	RWAYL
SEGI	- 0.6	RRTLX

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
REFA	0.63	0.18	0.20	0.53	0.45	(0.76)	1.58	(1.14)	3.55
MSTSX	0.65	0.15	0.18	0.26	0.34	(0.79)	1.45	(1.12)	12.34
LBHIX	0.13	0.04	(0.12)	0.43	0.00	(0.24)	0.24	(0.23)	2.15
VIASP	0.28	0.04	(0.06)	2.64	0.26	(0.32)	0.68	(0.69)	2.04
RRTLX	0.28	0.05	0.03	0.20	0.05	(0.35)	0.58	(0.49)	3.30
WQTM	1.78	(0.15)	0.00	(0.04)	0.00	0.00	3.48	(3.52)	9.00
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SITKF	2.72	(0.29)	0.00	(0.19)	0.00	0.00	4.55	(6.67)	16.83
RWAYL	0.11	0.03	(0.21)	0.93	0.00	(0.14)	0.24	(0.20)	0.69
SEGI	11.12	0.69	0.02	(0.39)	12.04	(28.85)	33.33	(25.00)	58.33

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