Northern Emerging Correlations

NOEMX Fund

USD 12.33 0.02 0.16%

The current 90-days correlation between Northern Emerging Markets and Gmo Emerging Markets is 0.87 (i.e., Very poor diversification). The correlation of Northern Emerging 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 Emerging Correlation With Market

Poor diversification

The correlation between Northern Emerging Markets and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Emerging Markets 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 Emerging Markets. 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 population.

Moving together with Northern Mutual Fund

0.66	NOIEX	Northern Income Equity	Pair Corr
0.77	NOIGX	Northern International	Pair Corr
0.9	NOINX	Northern International	Pair Corr
0.75	NOMIX	Northern Mid Cap	Pair Corr
0.73	NOLCX	Northern Large Cap	Pair Corr
0.63	NOLVX	Northern Large Cap	Pair Corr
0.62	NOSGX	Northern Small Cap	Pair Corr
0.8	BBALX	Northern Global Tactical	Pair Corr
0.69	NSCKX	Northern Small Cap	Pair Corr
0.69	NSIDX	Northern Small Cap	Pair Corr
0.69	NSGRX	Northern Small Cap	Pair Corr
0.84	NSRKX	Northern Global Sust	Pair Corr
0.79	NSRIX	Northern Global Sust	Pair Corr
0.72	NUEIX	Northern Quality Esg	Pair Corr
0.72	NUESX	Northern Quality Esg	Pair Corr
0.87	NGREX	Northern Global Real	Pair Corr
0.78	NHFIX	Northern High Yield	Pair Corr
0.95	NMIEX	Active M International	Pair Corr
0.85	NMHYX	Multi Manager High	Pair Corr
0.85	NMMGX	Multi Manager Global	Pair Corr
0.93	NMMEX	Active M Emerging	Pair Corr
0.89	VEMAX	Vanguard Emerging Markets	Pair Corr
0.89	VEIEX	Vanguard Emerging Markets	Pair Corr

Moving against Northern Mutual Fund

0.31

NOUGX

Northern Government

Pair Corr

Related Correlations Analysis

	GMAQX	HERFX	HLEMX	CMERX	QTERX	BXECX	EPASX	PIEFX
GMAQX		0.93	0.95	0.83	0.96	-0.32	0.93	0.92	GMAQX
HERFX	0.93		0.98	0.61	0.99	-0.26	0.96	0.99	HERFX
HLEMX	0.95	0.98		0.64	0.98	-0.36	0.94	0.99	HLEMX
CMERX	0.83	0.61	0.64		0.69	-0.19	0.73	0.6	CMERX
QTERX	0.96	0.99	0.98	0.69		-0.27	0.97	0.98	QTERX
BXECX	-0.32	-0.26	-0.36	-0.19	-0.27		-0.18	-0.32	BXECX
EPASX	0.93	0.96	0.94	0.73	0.97	-0.18		0.95	EPASX
PIEFX	0.92	0.99	0.99	0.6	0.98	-0.32	0.95		PIEFX
	GMAQX	HERFX	HLEMX	CMERX	QTERX	BXECX	EPASX	PIEFX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

QTERX	+ 0.99	HERFX
PIEFX	+ 0.99	HERFX
PIEFX	+ 0.99	HLEMX
HLEMX	+ 0.98	HERFX
QTERX	+ 0.98	HLEMX
PIEFX	+ 0.98	QTERX

High negative correlations

BXECX	- 0.36	HLEMX
PIEFX	- 0.32	BXECX
BXECX	- 0.32	GMAQX
BXECX	- 0.27	QTERX
BXECX	- 0.26	HERFX
BXECX	- 0.19	CMERX

Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern Emerging 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 Emerging'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
GMAQX	0.91	0.10	0.07	0.11	1.37	(0.95)	1.77	(2.24)	6.42
HERFX	0.96	0.08	0.07	0.08	1.46	(0.98)	2.12	(2.35)	7.93
HLEMX	0.93	0.07	0.06	0.06	1.38	(0.96)	2.18	(2.20)	6.49
CMERX	0.89	0.12	0.11	0.16	1.04	(1.07)	1.86	(1.88)	6.74
QTERX	1.01	0.11	0.08	0.12	1.50	(1.02)	2.59	(2.45)	8.04
BXECX	0.07	0.01	0.00	2.37	0.00	0.00	0.27	(0.13)	0.80
EPASX	0.71	0.07	0.09	0.14	1.05	(0.74)	1.37	(1.63)	5.32
PIEFX	1.25	0.09	0.06	0.07	1.74	(1.25)	2.93	(2.60)	9.39

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC