Northeast Investors Correlations

NTHEX Fund

USD 3.65 0.01 0.27%

The current 90-days correlation between Northeast Investors Trust and Eventide Healthcare Life is 0.47 (i.e., Very weak diversification). The correlation of Northeast Investors 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.

Northeast Investors Correlation With Market

Very weak diversification

The correlation between Northeast Investors Trust and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northeast Investors Trust 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 Northeast Investors Trust. 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 income.

Moving together with Northeast Mutual Fund

0.67	VWEAX	Vanguard High Yield	Pair Corr
0.67	VWEHX	Vanguard High Yield	Pair Corr
0.65	BHYCX	Blackrock Hi Yld	Pair Corr
0.67	BHYIX	Blackrock High Yield	Pair Corr
0.67	BHYSX	Blackrock Hi Yld	Pair Corr
0.66	BHYAX	Blackrock High Yield	Pair Corr
0.7	FAHHX	American Funds American	Pair Corr
0.7	FTAHX	American Funds American	Pair Corr
0.7	AHTFX	American High Income	Pair Corr
0.7	AHTCX	American High Income	Pair Corr
0.65	EMBAX	Unconstrained Emerging	Pair Corr
0.63	GIOIX	Guggenheim Macro Opp	Pair Corr
0.63	DLDFX	Destinations Low Duration	Pair Corr
0.7	EBSIX	Campbell Systematic Macro	Pair Corr
0.7	RNCIX	Rivernorth E Opportunity	Pair Corr
0.66	PGLSX	Global Multi Strategy	Pair Corr
0.65	ABNOX	Ab Bond Inflation	Pair Corr
0.7	ARBOX	Absolute Convertible	Pair Corr
0.79	RXRPX	American Funds Retirement	Pair Corr
0.73	UTF	Cohen And Steers	Pair Corr
0.73	SGDLX	Sprott Gold Equity	Pair Corr
0.62	BISMX	Brandes International	Pair Corr

Moving against Northeast Mutual Fund

0.54

IIF

Morgan Stanley India

Pair Corr

Related Correlations Analysis

	ETAHX	LOGSX	LYFCX	HIAHX	SUHIX
ETAHX		0.28	0.45	0.8	0.42	ETAHX
LOGSX	0.28		0.81	0.65	0.79	LOGSX
LYFCX	0.45	0.81		0.86	0.98	LYFCX
HIAHX	0.8	0.65	0.86		0.85	HIAHX
SUHIX	0.42	0.79	0.98	0.85		SUHIX
	ETAHX	LOGSX	LYFCX	HIAHX	SUHIX

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Risk-Adjusted Indicators

There is a big difference between Northeast Mutual Fund performing well and Northeast Investors 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 Northeast Investors' 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
ETAHX	1.15	0.01	0.00	(0.06)	0.00	0.00	1.88	(2.74)	6.50
LOGSX	0.67	0.01	0.00	(0.04)	0.00	0.00	1.18	(1.52)	3.69
LYFCX	0.59	0.04	0.10	0.02	0.71	(0.61)	1.17	(1.20)	3.17
HIAHX	0.68	0.03	0.00	(0.03)	0.00	0.00	1.39	(1.22)	4.43
SUHIX	0.64	0.06	0.12	0.05	0.70	(0.72)	1.29	(1.17)	3.73

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