Northern Global Correlations

NGREX Fund

USD 9.59 0.09 0.93%

The current 90-days correlation between Northern Global Real and Northern Bond Index is 0.34 (i.e., Weak diversification). The correlation of Northern Global 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 Global Correlation With Market

Very weak diversification

The correlation between Northern Global Real and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Global Real 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 Global Real. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Northern Mutual Fund

0.68	NOBOX	Northern Bond Index	Pair Corr
0.69	NOCBX	Northern E Bond	Pair Corr
0.72	NOEMX	Northern Emerging Markets	Pair Corr
0.69	NOFIX	Northern Fixed Income	Pair Corr
0.69	NOIGX	Northern International	Pair Corr
0.7	NOINX	Northern International	Pair Corr
0.82	NOITX	Northern Intermediate	Pair Corr
0.69	NOLVX	Northern Large Cap	Pair Corr
0.81	NOTEX	Northern Tax Exempt	Pair Corr
0.62	NOUGX	Northern Government	Pair Corr
0.91	BBALX	Northern Global Tactical	Pair Corr
0.76	NCATX	Northern California Tax	Pair Corr
0.79	NCITX	Northern California	Pair Corr
0.84	NHFIX	Northern High Yield	Pair Corr
0.66	NMFIX	Multi Manager Global	Pair Corr
0.79	NMHYX	Multi Manager High	Pair Corr
0.69	NMMGX	Multi Manager Global	Pair Corr
0.97	DFGEX	Dfa Global Real	Pair Corr
0.86	VGRNX	Vanguard Global Ex	Pair Corr
0.67	DFITX	Dfa International Real	Pair Corr
0.86	VGRLX	Vanguard Global Ex	Pair Corr
0.99	PGRKX	Global Real Estate	Pair Corr

Related Correlations Analysis

	NOBOX	NOCBX	NOAZX	NOEMX	NOFIX	NOIEX	NOIGX	NOINX	NOITX
NOBOX		1.0	0.66	0.76	1.0	-0.25	0.87	0.88	0.86	NOBOX
NOCBX	1.0		0.68	0.76	1.0	-0.23	0.87	0.88	0.87	NOCBX
NOAZX	0.66	0.68		0.5	0.69	0.33	0.48	0.5	0.86	NOAZX
NOEMX	0.76	0.76	0.5		0.76	0.03	0.91	0.9	0.65	NOEMX
NOFIX	1.0	1.0	0.69	0.76		-0.23	0.86	0.88	0.87	NOFIX
NOIEX	-0.25	-0.23	0.33	0.03	-0.23		-0.1	-0.11	0.1	NOIEX
NOIGX	0.87	0.87	0.48	0.91	0.86	-0.1		1.0	0.74	NOIGX
NOINX	0.88	0.88	0.5	0.9	0.88	-0.11	1.0		0.75	NOINX
NOITX	0.86	0.87	0.86	0.65	0.87	0.1	0.74	0.75		NOITX
	NOBOX	NOCBX	NOAZX	NOEMX	NOFIX	NOIEX	NOIGX	NOINX	NOITX

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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
NOINX	+ 1.0	NOIGX
NOIGX	+ 0.91	NOEMX
NOINX	+ 0.9	NOEMX

High negative correlations

NOIEX	- 0.25	NOBOX
NOIEX	- 0.23	NOFIX
NOIEX	- 0.23	NOCBX
NOINX	- 0.11	NOIEX
NOIGX	- 0.1	NOIEX

Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern Global 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 Global'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	0.25	0.02	0.26	0.55	0.22	(0.29)	0.55	(0.44)	1.23
NOCBX	0.24	0.02	0.27	0.27	0.20	(0.30)	0.57	(0.45)	1.27
NOAZX	0.13	(0.01)	0.19	(1.37)	0.19	(0.18)	0.31	(0.42)	1.04
NOEMX	0.69	0.07	0.11	0.11	0.89	(0.72)	1.53	(1.62)	5.10
NOFIX	0.23	0.02	0.28	0.25	0.20	(0.28)	0.56	(0.46)	1.38
NOIEX	0.75	(0.02)	0.00	(0.09)	0.00	0.00	1.21	(1.58)	3.96
NOIGX	0.62	0.14	0.20	0.17	0.67	(0.68)	1.43	(1.26)	4.30
NOINX	0.64	0.14	0.19	0.19	0.74	(0.74)	1.60	(1.26)	4.53
NOITX	0.12	(0.01)	0.22	(0.24)	0.17	(0.16)	0.21	(0.31)	0.82

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