Northern Arizona Correlations

NOAZX Fund

USD 9.45 0.05 0.53%

The current 90-days correlation between Northern Arizona Tax and Transamerica Emerging Markets is 0.17 (i.e., Average diversification). The correlation of Northern Arizona 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 Arizona Correlation With Market

Average diversification

The correlation between Northern Arizona Tax Exempt and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Arizona Tax Exempt 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 Arizona Tax Exempt. 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 nation.

Moving together with Northern Mutual Fund

0.62	NOCBX	Northern E Bond	Pair Corr
0.62	NOFIX	Northern Fixed Income	Pair Corr
0.92	NOITX	Northern Intermediate	Pair Corr
0.91	NOTEX	Northern Tax Exempt	Pair Corr
0.69	NSITX	Northern Short Inter	Pair Corr
0.98	NCATX	Northern California Tax	Pair Corr
0.84	NCITX	Northern California	Pair Corr
0.77	NGREX	Northern Global Real	Pair Corr
0.74	NHFIX	Northern High Yield	Pair Corr
0.65	NMHYX	Multi Manager High	Pair Corr
0.71	NMMGX	Multi Manager Global	Pair Corr

Related Correlations Analysis

	TEOJX	PACEX	REMVX	KMKCX	FEMDX	FWOKX	AMTOX
TEOJX		0.87	0.99	0.18	0.81	0.84	0.63	TEOJX
PACEX	0.87		0.88	0.24	0.9	0.86	0.6	PACEX
REMVX	0.99	0.88		0.18	0.82	0.85	0.62	REMVX
KMKCX	0.18	0.24	0.18		0.51	0.54	0.79	KMKCX
FEMDX	0.81	0.9	0.82	0.51		0.92	0.83	FEMDX
FWOKX	0.84	0.86	0.85	0.54	0.92		0.85	FWOKX
AMTOX	0.63	0.6	0.62	0.79	0.83	0.85		AMTOX
	TEOJX	PACEX	REMVX	KMKCX	FEMDX	FWOKX	AMTOX

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Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern Arizona 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 Arizona'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
TEOJX	0.77	0.09	0.09	6.01	0.92	(0.83)	1.54	(1.53)	5.83
PACEX	0.12	0.01	0.10	(0.41)	0.00	(0.20)	0.33	(0.22)	0.76
REMVX	0.78	0.09	0.09	(0.99)	0.93	(0.84)	1.67	(1.56)	5.76
KMKCX	1.48	0.15	0.07	0.15	2.02	(1.52)	3.20	(3.36)	10.16
FEMDX	0.15	0.02	0.13	8.50	0.00	(0.20)	0.42	(0.26)	1.11
FWOKX	0.72	0.10	0.10	0.14	0.93	(0.73)	1.38	(1.35)	6.10
AMTOX	0.45	0.08	0.14	0.19	0.41	(0.55)	1.00	(0.99)	2.56

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Northern Arizona Correlations

Northern Arizona Correlation With Market

Average diversification

Moving together with Northern Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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