Northern International Correlations

NOINX Fund

USD 15.20 0.02 0.13%

The current 90-days correlation between Northern International and Massmutual Premier Diversified is 0.2 (i.e., Modest diversification). The correlation of Northern International 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 International Correlation With Market

Poor diversification

The correlation between Northern International Equity and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern International Equity 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 International Equity. 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 board of governors.

Moving together with Northern Mutual Fund

0.88	NOBOX	Northern Bond Index	Pair Corr
0.88	NOCBX	Northern E Bond	Pair Corr
0.92	NOEMX	Northern Emerging Markets	Pair Corr
0.88	NOFIX	Northern Fixed Income	Pair Corr
1.0	NOIGX	Northern International	Pair Corr
0.67	NOITX	Northern Intermediate	Pair Corr
0.87	NOUGX	Northern Government	Pair Corr
0.9	BSBAX	Northern Short Bond	Pair Corr
0.64	BBALX	Northern Global Tactical	Pair Corr
0.89	BTIAX	Northern Ustreasury Index	Pair Corr
0.88	NSIUX	Northern Short-intermedia	Pair Corr
0.87	NSITX	Northern Short Inter	Pair Corr
0.93	NTAUX	Northern Tax Advantaged	Pair Corr
0.93	SWSFX	Ultra Short Fixed	Pair Corr
0.64	NCITX	Northern California	Pair Corr
0.93	NUSFX	Northern Ultra Short	Pair Corr
0.72	NGREX	Northern Global Real	Pair Corr
0.77	NHFIX	Northern High Yield	Pair Corr
0.94	NMFIX	Multi Manager Global	Pair Corr
0.99	NMIEX	Active M International	Pair Corr
0.8	NMHYX	Multi Manager High	Pair Corr
0.72	NMMEX	Active M Emerging	Pair Corr

Moving against Northern Mutual Fund

0.62	NSIDX	Northern Small Cap	Pair Corr
0.6	NSCKX	Northern Small Cap	Pair Corr
0.6	NSGRX	Northern Small Cap	Pair Corr
0.54	NOMIX	Northern Mid Cap	Pair Corr
0.4	NOSGX	Northern Small Cap	Pair Corr
0.38	NOSIX	Northern Stock Index	Pair Corr
0.33	NSRIX	Northern Global Sust	Pair Corr
0.47	NUEIX	Northern Quality Esg	Pair Corr
0.47	NUESX	Northern Quality Esg	Pair Corr

Related Correlations Analysis

	MDBLX	PGFCX	FZABX	MBLAX	GPICX	HIIDX	QDARX	DLTZX
MDBLX		0.72	0.82	0.59	0.89	0.88	0.91	0.96	MDBLX
PGFCX	0.72		0.83	0.86	0.77	0.77	0.64	0.67	PGFCX
FZABX	0.82	0.83		0.75	0.93	0.97	0.86	0.84	FZABX
MBLAX	0.59	0.86	0.75		0.69	0.67	0.53	0.55	MBLAX
GPICX	0.89	0.77	0.93	0.69		0.93	0.96	0.93	GPICX
HIIDX	0.88	0.77	0.97	0.67	0.93		0.9	0.88	HIIDX
QDARX	0.91	0.64	0.86	0.53	0.96	0.9		0.96	QDARX
DLTZX	0.96	0.67	0.84	0.55	0.93	0.88	0.96		DLTZX
	MDBLX	PGFCX	FZABX	MBLAX	GPICX	HIIDX	QDARX	DLTZX

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Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern International 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 International'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
MDBLX	0.22	0.02	0.18	0.32	0.12	(0.30)	0.50	(0.37)	1.38
PGFCX	0.28	0.01	0.11	(0.15)	0.27	(0.34)	0.67	(0.48)	1.75
FZABX	0.72	0.12	0.12	0.14	0.93	(0.70)	1.45	(1.37)	6.16
MBLAX	0.25	0.03	0.13	0.06	0.22	(0.30)	0.62	(0.47)	1.51
GPICX	0.04	0.01	0.00	0.24	0.00	0.00	0.10	0.00	0.21
HIIDX	0.59	0.12	0.15	0.17	0.66	(0.62)	1.27	(0.88)	5.23
QDARX	0.08	0.03	0.53	2.14	0.00	(0.13)	0.25	(0.08)	0.49
DLTZX	0.08	0.01	0.26	1.22	0.00	(0.18)	0.26	(0.13)	0.64

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