Northern High Correlations

Mutual Funds . USA . 
Fund . Northern High Yield
NHFIX Fund  USD 6.09  0.01  0.16%   
The current 90-days correlation between Northern High Yield and Northern Emerging Markets is 0.19 (i.e., Average 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 0.03 (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

  0.67NOBOX Northern Bond IndexPairCorr
  0.76NOCBX Northern E BondPairCorr
  0.82NOEMX Northern Emerging MarketsPairCorr
  0.67NOFIX Northern Fixed IncomePairCorr
  0.98NOIEX Northern Income EquityPairCorr
  0.96NOIGX Northern InternationalPairCorr
  0.94NOINX Northern InternationalPairCorr
  0.64NOITX Northern IntermediatePairCorr
  0.93NOMIX Northern Mid CapPairCorr
  0.76NOLCX Northern Large CapPairCorr
  0.75NOLVX Northern Large CapPairCorr
  0.83NOSIX Northern Stock IndexPairCorr
  0.7NOSGX Northern Small CapPairCorr
  0.72BSBAX Northern Short BondPairCorr
  0.75BBALX Northern Global TacticalPairCorr
  0.72NSCKX Northern Small CapPairCorr
  0.73NSIDX Northern Small CapPairCorr
  0.71NSGRX Northern Small CapPairCorr
  0.74NSITX Northern Short InterPairCorr
  0.74NSRKX Northern Global SustPairCorr
  0.74NSRIX Northern Global SustPairCorr
  0.75NTAUX Northern Tax AdvantagedPairCorr
  0.83SWSFX Ultra Short FixedPairCorr
  0.71NCITX Northern CaliforniaPairCorr
  0.75NUEIX Northern Quality EsgPairCorr
  0.75NUESX Northern Quality EsgPairCorr
  0.73NUSFX Northern Ultra ShortPairCorr
  0.9NGREX Northern Global RealPairCorr
  0.66NMFIX Multi Manager GlobalPairCorr
  0.7NMIEX Active M InternationalPairCorr
  0.75NMHYX Multi Manager HighPairCorr
  0.85NMMGX Multi Manager GlobalPairCorr
  0.71NMMEX Active M EmergingPairCorr
  0.98VWEAX Vanguard High YieldPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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