Northern Quality Correlations

NUESX Fund

USD 21.14 0.16 0.75%

The current 90-days correlation between Northern Quality Esg and Northern Small Cap is 0.68 (i.e., Poor diversification). The correlation of Northern Quality 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 Quality Correlation With Market

Very poor diversification

The correlation between Northern Quality Esg and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Quality Esg 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 Quality Esg. 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 state.

Moving together with Northern Mutual Fund

0.98	NOIEX	Northern Income Equity	Pair Corr
0.83	NOMIX	Northern Mid Cap	Pair Corr
0.89	NOLCX	Northern Large Cap	Pair Corr
0.61	NOLVX	Northern Large Cap	Pair Corr
0.99	NOSIX	Northern Stock Index	Pair Corr
0.7	NSCKX	Northern Small Cap	Pair Corr
0.9	NSIDX	Northern Small Cap	Pair Corr
0.7	NSGRX	Northern Small Cap	Pair Corr
0.76	NSRKX	Northern Global Sust	Pair Corr
0.76	NSRIX	Northern Global Sust	Pair Corr
0.62	NTAUX	Northern Tax Advantaged	Pair Corr
1.0	NUEIX	Northern Quality Esg	Pair Corr
0.8	NMHYX	Multi Manager High	Pair Corr

Moving against Northern Mutual Fund

0.52	NOUGX	Northern Government	Pair Corr
0.51	NOEMX	Northern Emerging Markets	Pair Corr
0.5	BTIAX	Northern Ustreasury Index	Pair Corr
0.49	NOINX	Northern International	Pair Corr
0.44	NOBOX	Northern Bond Index	Pair Corr
0.44	NOCBX	Northern E Bond	Pair Corr
0.42	BSBAX	Northern Short Bond	Pair Corr
0.41	NSIUX	Northern Short Inter	Pair Corr
0.4	NOFIX	Northern Fixed Income	Pair Corr
0.34	NOIGX	Northern International	Pair Corr
0.54	NMMEX	Active M Emerging	Pair Corr
0.47	NMMGX	Multi Manager Global	Pair Corr
0.46	NMFIX	Multi Manager Global	Pair Corr
0.42	NGREX	Northern Global Real	Pair Corr

Related Correlations Analysis

	NSIDX	NOINX	NOMIX	NOBOX	NOEMX
NSIDX		-0.32	0.97	-0.28	-0.4	NSIDX
NOINX	-0.32		-0.17	0.89	0.83	NOINX
NOMIX	0.97	-0.17		-0.18	-0.24	NOMIX
NOBOX	-0.28	0.89	-0.18		0.59	NOBOX
NOEMX	-0.4	0.83	-0.24	0.59		NOEMX
	NSIDX	NOINX	NOMIX	NOBOX	NOEMX

Click cells to compare fundamentals

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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

NOMIX	+ 0.97	NSIDX
NOBOX	+ 0.89	NOINX
NOEMX	+ 0.83	NOINX
NOEMX	+ 0.59	NOBOX

High negative correlations

NOEMX	- 0.4	NSIDX
NOINX	- 0.32	NSIDX
NOBOX	- 0.28	NSIDX
NOEMX	- 0.24	NOMIX
NOBOX	- 0.18	NOMIX
NOMIX	- 0.17	NOINX

Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern Quality 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 Quality'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
NSIDX	0.94	(0.13)	(0.07)	1.90	(1.79)	12.58
NOINX	0.64	(0.19)	(0.72)	0.97	(1.69)	6.24
NOMIX	0.81	(0.17)	(0.12)	1.60	(1.21)	13.20
NOBOX	0.23	(0.07)	(2.60)	0.43	(0.65)	1.53
NOEMX	0.72	(0.08)	(0.45)	1.53	(1.83)	5.43

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