Northern Intermediate Correlations

Mutual Funds . USA . 
Fund . Northern Intermediate Tax Exempt
NOITX Fund  USD 9.62  0.02  0.21%   
The current 90-days correlation between Northern Intermediate and Northern High Yield is -0.05 (i.e., Good diversification). The correlation of Northern Intermediate 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 Intermediate Correlation With Market

Significant diversification

The correlation between Northern Intermediate Tax Exem and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Intermediate Tax Exem 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 Intermediate Tax Exempt. 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 estimate.

Moving together with Northern Mutual Fund

  0.81NOAZX Northern Arizona TaxPairCorr
  0.62NOIEX Northern Income EquityPairCorr
  0.66NOINX Northern InternationalPairCorr
  0.9NOLCX Northern Large CapPairCorr
  0.71NOTEX Northern Tax ExemptPairCorr
  0.9NOSGX Northern Small CapPairCorr
  0.93BSBAX Northern Short BondPairCorr
  0.91NSCKX Northern Small CapPairCorr
  0.66NSIUX Northern Short InterPairCorr
  0.95NSITX Northern Short InterPairCorr
  0.9NSRKX Northern Global SustPairCorr
  0.9NSRIX Northern Global SustPairCorr
  0.92NTAUX Northern Tax AdvantagedPairCorr
  0.91NCATX Northern California TaxPairCorr
  0.94NCITX Northern CaliforniaPairCorr
  0.91NUEIX Northern Quality EsgPairCorr
  0.91NUESX Northern Quality EsgPairCorr
  0.92NUSFX Northern Ultra ShortPairCorr
  0.65NGREX Northern Global RealPairCorr
  0.86NMFIX Multi Manager GlobalPairCorr
  0.65NMIEX Active M InternationalPairCorr
  0.62NMMGX Multi Manager GlobalPairCorr
  0.76VWITX Vanguard Intermediate-terPairCorr
  0.73VWIUX Vanguard Intermediate-terPairCorr
  0.72AFTEX Tax Exempt BondPairCorr
  0.69AFTFX Tax Exempt BondPairCorr

Related Correlations Analysis

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