Multi Manager Correlations

NMMGX Fund

USD 10.21 0.15 1.49%

The current 90-days correlation between Multi Manager Global and Northern Bond Index is 0.56 (i.e., Very weak diversification). The correlation of Multi Manager 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.

Multi Manager Correlation With Market

Weak diversification

The correlation between Multi Manager Global Real and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Multi Manager 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 Multi Manager 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 price.

Moving together with Multi Mutual Fund

0.84	NOBOX	Northern Bond Index	Pair Corr
0.84	NOCBX	Northern E Bond	Pair Corr
0.66	NOEMX	Northern Emerging Markets	Pair Corr
0.83	NOFIX	Northern Fixed Income	Pair Corr
0.86	NOIGX	Northern International	Pair Corr
0.86	NOINX	Northern International	Pair Corr
0.85	NOUGX	Northern Government	Pair Corr
0.74	BSBAX	Northern Short Bond	Pair Corr
0.85	BTIAX	Northern Ustreasury Index	Pair Corr
0.73	NSIUX	Northern Short Inter	Pair Corr
0.99	NGREX	Northern Global Real	Pair Corr
0.98	NMFIX	Multi Manager Global	Pair Corr
0.85	NMIEX	Active M International	Pair Corr

Moving against Multi Mutual Fund

0.51	SWSFX	Ultra Short Fixed	Pair Corr
0.46	NOIEX	Northern Income Equity	Pair Corr
0.46	NOSIX	Northern Stock Index	Pair Corr
0.35	NTAUX	Northern Tax Advantaged	Pair Corr
0.5	NUSFX	Northern Ultra Short	Pair Corr
0.5	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.5	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.5	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.5	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.49	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.47	NUEIX	Northern Quality Esg	Pair Corr
0.47	NUESX	Northern Quality Esg	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

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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 Multi Mutual Fund performing well and Multi Manager 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 Multi Manager'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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC