Northern Fixed Correlations

Mutual Funds . USA . 
Fund . Northern Fixed Income
NOFIX Fund  USD 8.88  0.02  0.23%   
The current 90-days correlation between Northern Fixed Income and Northern Bond Index is 0.06 (i.e., Significant diversification). The correlation of Northern Fixed 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 Fixed Correlation With Market

Modest diversification

The correlation between Northern Fixed Income and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Fixed Income 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 Fixed Income. 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

  0.9NOBOX Northern Bond IndexPairCorr
  1.0NOCBX Northern E BondPairCorr
  0.75NOEMX Northern Emerging MarketsPairCorr
  0.73NOIEX Northern Income EquityPairCorr
  0.7NOIGX Northern InternationalPairCorr
  0.7NOINX Northern InternationalPairCorr
  0.85NOITX Northern IntermediatePairCorr
  0.65NOMIX Northern Mid CapPairCorr
  0.73NOLCX Northern Large CapPairCorr
  0.73NOLVX Northern Large CapPairCorr
  0.76NOTEX Northern Tax ExemptPairCorr
  0.72NOSIX Northern Stock IndexPairCorr
  0.71NOSGX Northern Small CapPairCorr
  0.84NOUGX Northern GovernmentPairCorr
  0.86BSBAX Northern Short BondPairCorr
  0.76BBALX Northern Global TacticalPairCorr
  0.72NSCKX Northern Small CapPairCorr
  0.73NSIDX Northern Small CapPairCorr
  0.7NSGRX Northern Small CapPairCorr
  0.94NSIUX Northern Short InterPairCorr
  0.81NSITX Northern Short InterPairCorr
  0.69NSRKX Northern Global SustPairCorr
  0.7NSRIX Northern Global SustPairCorr
  0.82NTAUX Northern Tax AdvantagedPairCorr
  0.85SWSFX Ultra Short FixedPairCorr
  0.78NCATX Northern California TaxPairCorr
  0.81NCITX Northern CaliforniaPairCorr
  0.71NUEIX Northern Quality EsgPairCorr
  0.72NUESX Northern Quality EsgPairCorr
  0.85NUSFX Northern Ultra ShortPairCorr
  0.74NGREX Northern Global RealPairCorr
  0.8NHFIX Northern High YieldPairCorr
  0.75NMFIX Multi Manager GlobalPairCorr
  0.73NMIEX Active M InternationalPairCorr
  0.78NMHYX Multi Manager HighPairCorr
  0.69NMMGX Multi Manager GlobalPairCorr
  0.74NMMEX Active M EmergingPairCorr
  0.96MWTNX Metropolitan West TotalPairCorr

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 Fixed 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 Fixed'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
NOBOX  0.27  0.02 (0.30)(1.34) 0.24 
(0.34)
 0.56 
(0.55)
 1.43 
NOCBX  0.24  0.01 (0.33) 0.23  0.22 
(0.29)
 0.46 
(0.46)
 1.38 
NOAZX  0.14  0.02 (0.54)(0.25) 0.07 
(0.20)
 0.32 
(0.22)
 1.09 
NOEMX  0.50  0.19  0.20  0.56  0.00 
(0.65)
 1.71 
(0.79)
 4.12 
NOFIX  0.25  0.01 (0.31) 0.24  0.21 
(0.31)
 0.46 
(0.56)
 1.38 
NOIEX  0.63  0.12  0.12  0.27  0.51 
(0.76)
 1.96 
(1.22)
 5.08 
NOIGX  0.53  0.23  0.13 (2.79) 0.25 
(0.65)
 1.45 
(1.01)
 3.03 
NOINX  0.55  0.12  0.06  0.40  0.44 
(0.63)
 1.36 
(1.17)
 3.24 
NOITX  0.11  0.01 (0.66) 0.27  0.00 
(0.15)
 0.21 
(0.21)
 0.95 
NOMIX  0.77  0.26  0.10 (1.32) 0.75 
(0.88)
 2.11 
(1.57)
 6.15 

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