Northern Lights Correlations
DUKZ Etf | 24.91 0.03 0.12% |
The current 90-days correlation between Northern Lights and MFS Active Core is 0.69 (i.e., Poor 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
Good diversification
The correlation between Northern Lights and DJI is -0.12 (i.e., Good 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.
Northern |
Moving together with Northern Etf
0.64 | VUG | Vanguard Growth Index | PairCorr |
0.68 | WTRE | WisdomTree New Economy | PairCorr |
0.81 | CRED | Columbia ETF Trust | PairCorr |
Moving against Northern Etf
0.61 | MNA | IQ Merger Arbitrage | PairCorr |
0.57 | BOIL | ProShares Ultra Bloomberg Downward Rally | PairCorr |
0.51 | CGUI | Capital Group Fixed | PairCorr |
0.47 | SPAQ | Horizon Kinetics SPAC | PairCorr |
0.41 | COMT | iShares GSCI Commodity | PairCorr |
0.71 | TWM | ProShares UltraShort | PairCorr |
0.64 | PSQ | ProShares Short QQQ Sell-off Trend | PairCorr |
0.58 | DWSH | AdvisorShares Dorsey | PairCorr |
0.57 | BSCP | Invesco BulletShares 2025 | PairCorr |
0.54 | FLDB | Fidelity Low Duration | PairCorr |
0.43 | GSG | iShares SP GSCI | PairCorr |
0.41 | SCHO | Schwab Short Term | PairCorr |
0.37 | USTB | VictoryShares USAA Core | PairCorr |
Related Correlations Analysis
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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
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Northern Lights Competition 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
META | 1.57 | 0.12 | 0.06 | 0.03 | 2.16 | 2.96 | 8.90 | |||
MSFT | 1.10 | (0.14) | 0.00 | (0.31) | 0.00 | 2.58 | 10.31 | |||
UBER | 1.93 | 0.23 | 0.10 | 0.33 | 2.40 | 4.72 | 12.75 | |||
F | 1.44 | 0.06 | 0.00 | (0.04) | 0.00 | 2.71 | 10.14 | |||
T | 1.04 | 0.28 | 0.18 | 0.42 | 1.60 | 1.90 | 11.66 | |||
A | 1.17 | (0.06) | 0.00 | (0.16) | 0.00 | 3.26 | 9.03 | |||
CRM | 1.41 | (0.21) | 0.00 | (0.31) | 0.00 | 2.82 | 8.88 | |||
JPM | 1.09 | 0.05 | 0.00 | (0.05) | 0.00 | 1.99 | 6.85 | |||
MRK | 1.21 | (0.11) | 0.00 | 2.40 | 0.00 | 2.07 | 11.58 | |||
XOM | 1.06 | 0.10 | 0.14 | (0.59) | 1.31 | 2.55 | 5.89 |