Northern California Correlations

NCITX Fund

USD 9.81 0.08 0.81%

The current 90-days correlation between Northern California and Northern Bond Index is 0.64 (i.e., Poor diversification). The correlation of Northern California 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 California Correlation With Market

Good diversification

The correlation between Northern California Intermedia and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern California Intermedia 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 California Intermediate. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Northern Mutual Fund

0.73	NOBOX	Northern Bond Index	Pair Corr
0.73	NOCBX	Northern E Bond	Pair Corr
0.99	NOAZX	Northern Arizona Tax	Pair Corr
0.76	NOFIX	Northern Fixed Income	Pair Corr
0.64	NOIGX	Northern International	Pair Corr
1.0	NOITX	Northern Intermediate	Pair Corr
0.99	NOTEX	Northern Tax Exempt	Pair Corr
0.68	NOUGX	Northern Government	Pair Corr
0.67	BSBAX	Northern Short Bond	Pair Corr
0.71	BBALX	Northern Global Tactical	Pair Corr
0.69	BTIAX	Northern Ustreasury Index	Pair Corr
0.71	NSIUX	Northern Short Inter	Pair Corr
0.98	NSITX	Northern Short Inter	Pair Corr
1.0	NCATX	Northern California Tax	Pair Corr
0.75	NHFIX	Northern High Yield	Pair Corr
0.95	NHYMX	Northern High Yield	Pair Corr

Related Correlations Analysis

	NOBOX	NOCBX	NOAZX	NOEMX	NOFIX	NOIEX	NOIGX	NOINX	NOITX	NOMIX
NOBOX		1.0	0.7	0.59	1.0	-0.47	0.86	0.89	0.74	-0.18	NOBOX
NOCBX	1.0		0.69	0.6	1.0	-0.47	0.86	0.89	0.74	-0.18	NOCBX
NOAZX	0.7	0.69		0.24	0.72	0.11	0.61	0.53	0.99	0.35	NOAZX
NOEMX	0.59	0.6	0.24		0.59	-0.47	0.8	0.83	0.32	-0.24	NOEMX
NOFIX	1.0	1.0	0.72	0.59		-0.43	0.86	0.88	0.77	-0.14	NOFIX
NOIEX	-0.47	-0.47	0.11	-0.47	-0.43		-0.35	-0.48	0.04	0.79	NOIEX
NOIGX	0.86	0.86	0.61	0.8	0.86	-0.35		0.98	0.66	0.02	NOIGX
NOINX	0.89	0.89	0.53	0.83	0.88	-0.48	0.98		0.6	-0.17	NOINX
NOITX	0.74	0.74	0.99	0.32	0.77	0.04	0.66	0.6		0.27	NOITX
NOMIX	-0.18	-0.18	0.35	-0.24	-0.14	0.79	0.02	-0.17	0.27		NOMIX
	NOBOX	NOCBX	NOAZX	NOEMX	NOFIX	NOIEX	NOIGX	NOINX	NOITX	NOMIX

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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

NOCBX	+ 1.0	NOBOX
NOFIX	+ 1.0	NOBOX
NOFIX	+ 1.0	NOCBX
NOITX	+ 0.99	NOAZX
NOINX	+ 0.98	NOIGX
NOINX	+ 0.89	NOBOX

High negative correlations

NOINX	- 0.48	NOIEX
NOIEX	- 0.47	NOEMX
NOIEX	- 0.47	NOCBX
NOIEX	- 0.47	NOBOX
NOIEX	- 0.43	NOFIX
NOIGX	- 0.35	NOIEX

Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern California Mutual Fund 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 California's 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
NOBOX	0.23	(0.07)	0.00	(2.60)	0.00	0.00	0.43	(0.65)	1.53
NOCBX	0.24	(0.07)	0.00	(3.99)	0.00	0.00	0.45	(0.66)	1.58
NOAZX	0.17	(0.04)	0.00	0.89	0.00	0.00	0.31	(0.41)	1.45
NOEMX	0.72	(0.08)	0.00	(0.45)	0.00	0.00	1.53	(1.83)	5.43
NOFIX	0.23	(0.07)	0.00	(2.39)	0.00	0.00	0.45	(0.66)	1.58
NOIEX	0.46	0.02	0.02	0.05	0.70	(0.48)	0.84	(0.85)	4.80
NOIGX	0.63	(0.19)	0.00	(0.66)	0.00	0.00	1.14	(1.37)	6.88
NOINX	0.64	(0.19)	0.00	(0.72)	0.00	0.00	0.97	(1.69)	6.24
NOITX	0.15	(0.03)	0.00	1.32	0.00	0.00	0.30	(0.31)	1.23
NOMIX	0.81	(0.17)	0.00	(0.12)	0.00	0.00	1.60	(1.21)	13.20

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