Northern Lights Correlations

CPAI Etf

USD 33.63 0.05 0.15%

The current 90-days correlation between Northern Lights and Strategy Shares is 0.53 (i.e., Very weak 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.

Northern Lights Correlation With Market

Poor diversification

The correlation between Northern Lights 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 Lights and DJI in the same portfolio, assuming nothing else is changed.

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

For more detail on how to invest in Northern OTC BB Equity please use our How to Invest in Northern Lights guide.

Moving together with Northern OTC BB Equity

0.89	VO	Vanguard Mid Cap	Pair Corr
0.85	VXF	Vanguard Extended Market Sell-off Trend	Pair Corr
0.88	IJH	iShares Core SP	Pair Corr
0.89	IWR	iShares Russell Mid	Pair Corr
0.83	MDY	SPDR SP MIDCAP	Pair Corr
0.88	FV	First Trust Dorsey	Pair Corr
0.84	IVOO	Vanguard SP Mid	Pair Corr
0.88	JHMM	John Hancock Multifactor	Pair Corr
0.87	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.84	XMMO	Invesco SP MidCap	Pair Corr
0.94	SIXD	AIM ETF Products	Pair Corr
0.79	CEFD	ETRACS Monthly Pay	Pair Corr
0.91	BAC	Bank of America Sell-off Trend	Pair Corr
0.92	AXP	American Express Sell-off Trend	Pair Corr
0.84	WMT	Walmart Aggressive Push	Pair Corr
0.67	DIS	Walt Disney	Pair Corr
0.76	BA	Boeing	Pair Corr
0.87	HD	Home Depot	Pair Corr
0.65	HPQ	HP Inc	Pair Corr

Moving against Northern OTC BB Equity

0.66	ULE	ProShares Ultra Euro	Pair Corr
0.41	PMBS	PIMCO Mortgage Backed	Pair Corr
0.38	YCL	ProShares Ultra Yen	Pair Corr
0.35	FXY	Invesco CurrencyShares	Pair Corr
0.45	TRV	The Travelers Companies	Pair Corr
0.36	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DINT	MCHI	DIVS	DIVY	DIVZ	PY	VT
DHSB		-0.06	-0.01	-0.03	-0.02	0.01	-0.09	-0.11	-0.17	DHSB
MBOX	-0.06		0.25	0.18	0.54	0.92	0.73	0.77	0.83	MBOX
DINT	-0.01	0.25		0.93	0.86	0.47	0.72	-0.16	0.1	DINT
MCHI	-0.03	0.18	0.93		0.85	0.39	0.77	-0.24	0.03	MCHI
DIVS	-0.02	0.54	0.86	0.85		0.69	0.91	0.04	0.27	DIVS
DIVY	0.01	0.92	0.47	0.39	0.69		0.8	0.62	0.71	DIVY
DIVZ	-0.09	0.73	0.72	0.77	0.91	0.8		0.28	0.5	DIVZ
PY	-0.11	0.77	-0.16	-0.24	0.04	0.62	0.28		0.91	PY
VT	-0.17	0.83	0.1	0.03	0.27	0.71	0.5	0.91		VT
	DHSB	MBOX	DINT	MCHI	DIVS	DIVY	DIVZ	PY	VT

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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

MCHI	+ 0.93	DINT
DIVY	+ 0.92	MBOX
DIVZ	+ 0.91	DIVS
VT	+ 0.91	PY
DIVS	+ 0.86	DINT
DIVS	+ 0.85	MCHI

High negative correlations

PY	- 0.24	MCHI
VT	- 0.17	DHSB
PY	- 0.16	DINT
PY	- 0.11	DHSB
DIVZ	- 0.09	DHSB
MBOX	- 0.06	DHSB

Northern Lights Constituents Risk-Adjusted Indicators

There is a big difference between Northern OTC BB Equity performing well and Northern Lights 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 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
DHSB	0.38	(0.09)	0.00	(0.62)	0.00	0.00	0.82	(0.74)	1.68
MBOX	0.69	(0.04)	0.00	0.37	0.00	0.00	1.08	(1.40)	3.45
DINT	1.01	0.08	0.10	1.14	1.35	(1.06)	2.03	(2.08)	8.79
MCHI	1.33	0.32	0.25	1.03	1.30	(1.55)	2.63	(2.42)	7.91
DIVS	0.61	0.01	0.12	(0.10)	0.76	(0.63)	1.18	(1.32)	3.19
DIVY	0.64	(0.04)	0.00	0.32	0.00	0.00	1.50	(1.31)	3.13
DIVZ	0.60	0.03	0.14	(0.27)	0.74	(0.65)	1.20	(1.22)	3.60
PY	0.69	0.00	0.00	(0.08)	0.00	0.00	1.35	(1.57)	3.12
VT	0.71	0.01	0.00	(0.06)	0.00	0.00	1.21	(1.51)	4.20

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