Northern Lights Correlations
MDPL Etf | 26.79 0.30 1.13% |
The current 90-days correlation between Northern Lights and Franklin Templeton ETF is 0.41 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Northern Lights moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northern Lights moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Northern Lights Correlation With Market
Poor diversification
The correlation between Northern Lights and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Lights and DJI in the same portfolio, assuming nothing else is changed.
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0.88 | VOE | Vanguard Mid Cap | PairCorr |
0.88 | SDY | SPDR SP Dividend | PairCorr |
0.86 | IWS | iShares Russell Mid | PairCorr |
0.91 | SPYD | SPDR Portfolio SP | PairCorr |
0.88 | COWZ | Pacer Cash Cows Low Volatility | PairCorr |
0.89 | DON | WisdomTree MidCap | PairCorr |
0.91 | RPV | Invesco SP 500 | PairCorr |
0.91 | PEY | Invesco High Yield | PairCorr |
0.83 | PKW | Invesco BuyBack Achievers | PairCorr |
0.91 | ONEY | SPDR Russell 1000 | PairCorr |
0.79 | DHF | BNY Mellon High | PairCorr |
0.74 | MAGS | Roundhill Magnificent | PairCorr |
0.77 | ARP | Advisors Inner Circle | PairCorr |
0.8 | PXMV | Invesco SP MidCap | PairCorr |
0.77 | SEMI | Columbia Seligman | PairCorr |
0.84 | MPRO | Northern Lights | PairCorr |
0.75 | Z | Zillow Group Class Earnings Call This Week | PairCorr |
0.71 | GRW | TCW Compounders ETF | PairCorr |
0.68 | GBTC | Grayscale Bitcoin Trust | PairCorr |
0.82 | EWQ | iShares MSCI France | PairCorr |
0.78 | VGT | Vanguard Information | PairCorr |
0.77 | IXP | iShares Global Comm | PairCorr |
0.84 | SSDRF | SSgA SPDR ETFs | PairCorr |
0.85 | SPGP | Invesco SP 500 | PairCorr |
Related Correlations Analysis
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Northern Lights Constituents Risk-Adjusted Indicators
There is a big difference between Northern Etf performing well and Northern Lights ETF 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 Lights' 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
DIEM | 0.55 | 0.18 | 0.12 | 0.59 | 0.00 | 1.52 | 4.00 | |||
DIVD | 0.55 | 0.04 | (0.04) | 0.27 | 0.43 | 1.45 | 3.11 | |||
DIVG | 0.63 | 0.00 | (0.04) | 0.20 | 0.69 | 1.58 | 4.57 | |||
DIVI | 0.59 | 0.09 | 0.01 | 0.37 | 0.37 | 1.52 | 3.32 | |||
DIVL | 0.60 | 0.02 | (0.06) | 0.23 | 0.59 | 1.46 | 5.05 | |||
DIVO | 0.47 | 0.03 | (0.05) | 0.24 | 0.37 | 1.31 | 3.08 | |||
DIVP | 0.55 | 0.01 | (0.11) | 0.22 | 0.51 | 1.39 | 3.33 | |||
MDPL | 0.73 | (0.07) | (0.12) | 0.12 | 0.75 | 2.01 | 4.55 | |||
DURA | 0.62 | (0.01) | (0.09) | 0.19 | 0.55 | 1.57 | 3.98 |