Northern Small Correlations

Mutual Funds . USA . 
Fund . Northern Small Cap
NOSGX Fund  USD 12.30  0.09  0.73%   
The current 90-days correlation between Northern Small Cap and American Beacon Large is 0.89 (i.e., Very poor diversification). The correlation of Northern Small 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 Small Correlation With Market

Good diversification

The correlation between Northern Small Cap and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Small Cap 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 Small Cap. 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 Northern Mutual Fund

  0.8NOIEX Northern Income EquityPairCorr
  0.99NOMIX Northern Mid CapPairCorr
  0.88NOLCX Northern Large CapPairCorr
  0.91NOSIX Northern Stock IndexPairCorr
  0.97NSCKX Northern Small CapPairCorr
  0.98NSIDX Northern Small CapPairCorr
  0.97NSGRX Northern Small CapPairCorr
  0.9NSRKX Northern Global SustPairCorr
  0.9NSRIX Northern Global SustPairCorr
  0.94NUEIX Northern Quality EsgPairCorr
  0.92NUESX Northern Quality EsgPairCorr

Moving against Northern Mutual Fund

  0.78NSIUX Northern Short-intermediaPairCorr
  0.73NOUGX Northern GovernmentPairCorr
  0.67BSBAX Northern Short BondPairCorr
  0.67BTIAX Northern Ustreasury IndexPairCorr
  0.63NOBOX Northern Bond IndexPairCorr
  0.62NOCBX Northern E BondPairCorr
  0.62NOFIX Northern Fixed IncomePairCorr
  0.62NTAUX Northern Tax AdvantagedPairCorr
  0.52NOINX Northern InternationalPairCorr
  0.51NSITX Northern Short InterPairCorr
  0.5NOIGX Northern InternationalPairCorr
  0.44NOEMX Northern Emerging MarketsPairCorr
  0.39NOITX Northern IntermediatePairCorr
  0.68GABFX Gmo Asset AllocationPairCorr
  0.64GAAVX Gmo Alternative AlloPairCorr
  0.62NMFIX Multi Manager GlobalPairCorr
  0.6NUSFX Northern Ultra ShortPairCorr
  0.52NMIEX Active M InternationalPairCorr
  0.37NCITX Northern CaliforniaPairCorr
  0.36NCATX Northern California TaxPairCorr
  0.35SWSFX Ultra Short FixedPairCorr

Related Correlations Analysis

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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   
MWTRX
+ 0.91
HIINX
CRSOX
+ 0.77
HIINX
MWTRX
+ 0.66
CRSOX
EMGRX
+ 0.54
AAGPX
CRSOX
+ 0.44
AAGPX
HIINX
+ 0.22
AAGPX
  
High negative correlations   
EMGRX
- 0.72
MWTRX
EMGRX
- 0.65
HIINX
EMGRX
- 0.34
CRSOX

Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern Small 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 Small'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.

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