Northern Emerging Correlations

NOEMX Fund

USD 11.83 0.05 0.42%

The current 90-days correlation between Northern Emerging Markets and Applied Finance Explorer is 0.07 (i.e., Significant diversification). The correlation of Northern Emerging 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 Emerging Correlation With Market

Weak diversification

The correlation between Northern Emerging Markets and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Emerging Markets 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 Emerging Markets. 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 population.

Moving together with Northern Mutual Fund

0.76	NOBOX	Northern Bond Index	Pair Corr
0.76	NOCBX	Northern E Bond	Pair Corr
0.77	NOFIX	Northern Fixed Income	Pair Corr
0.92	NOIGX	Northern International	Pair Corr
0.91	NOINX	Northern International	Pair Corr
0.63	NOITX	Northern Intermediate	Pair Corr
0.74	NOUGX	Northern Government	Pair Corr
0.75	BSBAX	Northern Short Bond	Pair Corr
0.69	BBALX	Northern Global Tactical	Pair Corr
0.76	BTIAX	Northern Ustreasury Index	Pair Corr
0.72	NSIUX	Northern Short-intermedia	Pair Corr
0.76	NSITX	Northern Short Inter	Pair Corr
0.75	NTAUX	Northern Tax Advantaged	Pair Corr
0.77	SWSFX	Ultra Short Fixed	Pair Corr
0.77	NUSFX	Northern Ultra Short	Pair Corr
0.71	NGREX	Northern Global Real	Pair Corr
0.65	NHFIX	Northern High Yield	Pair Corr
0.89	NMFIX	Multi Manager Global	Pair Corr
0.86	NMIEX	Active M International	Pair Corr
0.69	NMHYX	Multi Manager High	Pair Corr
0.89	NMMEX	Active M Emerging	Pair Corr

Moving against Northern Mutual Fund

0.47	NSIDX	Northern Small Cap	Pair Corr
0.43	NOMIX	Northern Mid Cap	Pair Corr
0.41	NSCKX	Northern Small Cap	Pair Corr
0.41	NSGRX	Northern Small Cap	Pair Corr
0.35	RYVLX	Nasdaq 100 2x Steady Growth	Pair Corr
0.35	RYVYX	Nasdaq 100 2x Steady Growth	Pair Corr
0.35	UOPIX	Ultra Nasdaq 100 Steady Growth	Pair Corr
0.34	DXQLX	Direxion Monthly Nasdaq Steady Growth	Pair Corr
0.33	NUEIX	Northern Quality Esg	Pair Corr
0.33	NUESX	Northern Quality Esg	Pair Corr

Related Correlations Analysis

	AFDVX	RRMVX	ABYSX	ARSMX	ESCIX	RYCLX	VSFSX	BPSCX
AFDVX		0.89	0.94	0.97	0.49	-0.93	0.98	0.92	AFDVX
RRMVX	0.89		0.97	0.91	0.61	-0.91	0.89	0.96	RRMVX
ABYSX	0.94	0.97		0.92	0.55	-0.98	0.93	0.98	ABYSX
ARSMX	0.97	0.91	0.92		0.46	-0.9	0.95	0.89	ARSMX
ESCIX	0.49	0.61	0.55	0.46		-0.47	0.53	0.64	ESCIX
RYCLX	-0.93	-0.91	-0.98	-0.9	-0.47		-0.92	-0.95	RYCLX
VSFSX	0.98	0.89	0.93	0.95	0.53	-0.92		0.93	VSFSX
BPSCX	0.92	0.96	0.98	0.89	0.64	-0.95	0.93		BPSCX
	AFDVX	RRMVX	ABYSX	ARSMX	ESCIX	RYCLX	VSFSX	BPSCX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

VSFSX	+ 0.98	AFDVX
BPSCX	+ 0.98	ABYSX
ARSMX	+ 0.97	AFDVX
ABYSX	+ 0.97	RRMVX
BPSCX	+ 0.96	RRMVX
VSFSX	+ 0.95	ARSMX

High negative correlations

RYCLX	- 0.98	ABYSX
BPSCX	- 0.95	RYCLX
RYCLX	- 0.93	AFDVX
VSFSX	- 0.92	RYCLX
RYCLX	- 0.91	RRMVX
RYCLX	- 0.9	ARSMX

Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern Emerging 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 Emerging'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
AFDVX	0.85	(0.13)	0.00	0.98	0.00	0.00	1.86	(1.93)	4.58
RRMVX	0.73	(0.06)	0.00	(0.07)	0.00	0.00	1.27	(1.60)	3.46
ABYSX	0.87	(0.11)	0.00	(0.10)	0.00	0.00	1.43	(2.08)	4.03
ARSMX	0.71	(0.07)	0.00	0.76	0.00	0.00	1.17	(1.37)	3.08
ESCIX	0.75	(0.03)	0.00	(0.06)	0.00	0.00	1.87	(2.03)	4.56
RYCLX	0.88	0.14	0.12	(0.13)	0.90	(0.94)	2.30	(1.54)	6.28
VSFSX	0.90	(0.13)	0.00	1.35	0.00	0.00	1.64	(2.07)	5.18
BPSCX	0.84	(0.10)	0.00	(0.10)	0.00	0.00	1.61	(2.10)	4.06

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