Northern Global Correlations

NSRKX Fund

USD 22.70 1.32 5.50%

The current 90-days correlation between Northern Global Sust and Northern Bond Index is 0.24 (i.e., Modest diversification). The correlation of Northern Global 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 Global Correlation With Market

Very weak diversification

The correlation between Northern Global Sustainability and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Global Sustainability 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 Global Sustainability. 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 industry.

Moving together with Northern Mutual Fund

0.72	NOIEX	Northern Income Equity	Pair Corr
0.91	NOMIX	Northern Mid Cap	Pair Corr
0.94	NOLCX	Northern Large Cap	Pair Corr
0.87	NOLVX	Northern Large Cap	Pair Corr
0.78	NOSIX	Northern Stock Index	Pair Corr
0.85	NOSGX	Northern Small Cap	Pair Corr
0.77	BBALX	Northern Global Tactical	Pair Corr
0.91	NSCKX	Northern Small Cap	Pair Corr
0.85	NSIDX	Northern Small Cap	Pair Corr
0.91	NSGRX	Northern Small Cap	Pair Corr
1.0	NSRIX	Northern Global Sust	Pair Corr
0.76	NUEIX	Northern Quality Esg	Pair Corr
0.76	NUESX	Northern Quality Esg	Pair Corr
0.76	NHFIX	Northern High Yield	Pair Corr
0.85	NMHYX	Multi Manager High	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

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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

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 Northern Mutual Fund performing well and Northern Global 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 Global'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

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