Northern High Correlations

Mutual Funds . USA . 
Fund . Northern High Yield
NHFIX Fund  USD 6.02  0.01  0.17%   
The current 90-days correlation between Northern High Yield and Northern Emerging Markets is 0.29 (i.e., Modest diversification). The correlation of Northern High 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 High Correlation With Market

Significant diversification

The correlation between Northern High Yield and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern High Yield 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 High Yield. 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 gross domestic product.

Moving together with Northern Mutual Fund

  0.7NOAZX Northern Arizona TaxPairCorr
  0.77NOEMX Northern Emerging MarketsPairCorr
  0.84NOIEX Northern Income EquityPairCorr
  0.63NOINX Northern InternationalPairCorr
  0.74NOITX Northern IntermediatePairCorr
  0.77NOMIX Northern Mid CapPairCorr
  0.82NOLCX Northern Large CapPairCorr
  0.86NOLVX Northern Large CapPairCorr
  0.71NOTEX Northern Tax ExemptPairCorr
  0.81NOSIX Northern Stock IndexPairCorr
  0.81NOSGX Northern Small CapPairCorr
  0.93BBALX Northern Global TacticalPairCorr
  0.74NSCKX Northern Small CapPairCorr
  0.73NSIDX Northern Small CapPairCorr
  0.79NSGRX Northern Small CapPairCorr
  0.71NSITX Northern Short InterPairCorr
  0.78NSRKX Northern Global SustPairCorr
  0.86NSRIX Northern Global SustPairCorr
  0.7NCITX Northern CaliforniaPairCorr
  0.76NUEIX Northern Quality EsgPairCorr
  0.76NUESX Northern Quality EsgPairCorr
  0.89NGREX Northern Global RealPairCorr
  0.7NMIEX Active M InternationalPairCorr
  0.98NMHYX Multi Manager HighPairCorr
  0.82NMMGX Multi Manager GlobalPairCorr
  0.72NMMEX Active M EmergingPairCorr
  0.82VWEAX Vanguard High YieldPairCorr
  0.88VWEHX Vanguard High YieldPairCorr

Moving against Northern Mutual Fund

  0.33NSIUX Northern Short InterPairCorr
  0.62USPSX Profunds UltrashortPairCorr

Related Correlations Analysis

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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   
NOINX
+ 0.9
NOEMX
NGREX
+ 0.82
NOEMX
NOINX
+ 0.73
NGREX
NSIDX
+ 0.67
NGREX
NSIDX
+ 0.65
NOEMX
NSIDX
+ 0.39
NOINX
  
High negative correlations   
NOFIX
- 0.26
NSIDX

Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern High 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 High'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.

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