Northern Ultra Correlations

NUSFX Fund

USD 10.30 0.01 0.1%

The current 90-days correlation between Northern Ultra Short and Northern Bond Index is 0.59 (i.e., Very weak diversification). The correlation of Northern Ultra 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 Ultra Correlation With Market

Good diversification

The correlation between Northern Ultra Short Fixed 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 Ultra Short Fixed 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 Ultra Short Fixed. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Northern Mutual Fund

0.85	NTAUX	Northern Tax Advantaged	Pair Corr
0.99	SWSFX	Ultra Short Fixed	Pair Corr

Moving against Northern Mutual Fund

0.5	NOINX	Northern International	Pair Corr
0.48	NOUGX	Northern Government	Pair Corr
0.46	BTIAX	Northern Ustreasury Index	Pair Corr
0.45	NOCBX	Northern E Bond	Pair Corr
0.45	NOIGX	Northern International	Pair Corr
0.44	NOFIX	Northern Fixed Income	Pair Corr
0.43	NOBOX	Northern Bond Index	Pair Corr
0.39	NSIUX	Northern Short Inter	Pair Corr
0.38	NOEMX	Northern Emerging Markets	Pair Corr
0.5	NMFIX	Multi Manager Global	Pair Corr
0.5	NMMGX	Multi Manager Global	Pair Corr
0.47	NMMEX	Active M Emerging	Pair Corr
0.44	NGREX	Northern Global Real	Pair Corr
0.37	NMIEX	Active M International	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 Ultra 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 Ultra'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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