Northern Lights Correlations

Etfs . USA . 
Etf . Northern Lights
MBCC Etf  USD 33.90  0.09  0.27%   
The current 90-days correlation between Northern Lights and Sterling Capital Focus is -0.12 (i.e., 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.

Northern Lights Correlation With Market

Poor diversification

The correlation between Northern Lights and DJI is 0.78 (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 Correlation Analysis 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 main economic indicators.
For information on how to trade Northern Etf refer to our How to Trade Northern Etf guide.

Moving together with Northern Etf

  0.73VUG Vanguard Growth IndexPairCorr
  0.68IWF iShares Russell 1000PairCorr
  0.74IVW iShares SP 500PairCorr
  0.74SPYG SPDR Portfolio SPPairCorr
  0.74IUSG iShares Core SPPairCorr
  0.71VONG Vanguard Russell 1000PairCorr
  0.69MGK Vanguard Mega CapPairCorr
  0.71VRGWX Vanguard Russell 1000PairCorr
  0.74QQQM Invesco NASDAQ 100PairCorr
  0.65IWY iShares Russell TopPairCorr
  0.81UPRO ProShares UltraPro SP500PairCorr
  0.83QTJA Innovator ETFs TrustPairCorr
  0.85QTOC Innovator ETFs TrustPairCorr
  0.89XTOC Innovator ETFs TrustPairCorr
  0.86QTAP Innovator Growth 100 Low VolatilityPairCorr
  0.87XTJA Innovator ETFs TrustPairCorr
  0.77XTAP Innovator Equity Acc Low VolatilityPairCorr
  0.68BAC Bank of America Sell-off TrendPairCorr
  0.71AXP American Express Sell-off TrendPairCorr
  0.69DIS Walt DisneyPairCorr
  0.62DD Dupont De NemoursPairCorr
  0.74HD Home DepotPairCorr

Moving against Northern Etf

  0.54MRK Merck CompanyPairCorr

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   
MMLG
+ 0.95
LCG
MPRO
+ 0.66
LCG
MAMB
+ 0.62
MPRO
MMLG
+ 0.46
MPRO
KNGS
+ 0.0
LCG
MPRO
+ 0.0
KNGS
  
High negative correlations   
MAMB
- 0.34
MMLG
MAMB
- 0.1
LCG
MAMB
- 0.0
KNGS
MMLG
- 0.0
KNGS
MPRO
- 0.0
KNGS
KNGS
- 0.0
LCG

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.

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