Northern Mid Correlations

NOMIX Fund

USD 21.57 0.40 1.82%

The current 90-days correlation between Northern Mid Cap and Amg Managers Fairpointe is -0.05 (i.e., Good diversification). The correlation of Northern Mid 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 Mid Correlation With Market

Poor diversification

The correlation between Northern Mid Cap and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Mid Cap 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 Mid Cap. 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

0.7	NOLVX	Northern Large Cap	Pair Corr
0.94	NOSGX	Northern Small Cap	Pair Corr
0.91	NSCKX	Northern Small Cap	Pair Corr
0.67	NSIDX	Northern Small Cap	Pair Corr
0.67	NSGRX	Northern Small Cap	Pair Corr
0.63	NTAUX	Northern Tax Advantaged	Pair Corr
0.74	NGREX	Northern Global Real	Pair Corr
0.7	NHFIX	Northern High Yield	Pair Corr
0.8	NMHYX	Multi Manager High	Pair Corr
0.7	NMMGX	Multi Manager Global	Pair Corr
0.81	VIMAX	Vanguard Mid Cap	Pair Corr

Related Correlations Analysis

	CHTTX	PRASX	TRPBX	HSVRX	PESPX	PRSIX	VMNVX	BIECX
CHTTX		-0.67	-0.64	-0.13	0.04	-0.64	-0.56	-0.57	CHTTX
PRASX	-0.67		0.97	0.53	0.45	0.97	0.77	0.94	PRASX
TRPBX	-0.64	0.97		0.63	0.55	1.0	0.83	0.94	TRPBX
HSVRX	-0.13	0.53	0.63		0.87	0.62	0.5	0.5	HSVRX
PESPX	0.04	0.45	0.55	0.87		0.54	0.4	0.4	PESPX
PRSIX	-0.64	0.97	1.0	0.62	0.54		0.82	0.94	PRSIX
VMNVX	-0.56	0.77	0.83	0.5	0.4	0.82		0.83	VMNVX
BIECX	-0.57	0.94	0.94	0.5	0.4	0.94	0.83		BIECX
	CHTTX	PRASX	TRPBX	HSVRX	PESPX	PRSIX	VMNVX	BIECX

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

PRSIX	+ 1.0	TRPBX
TRPBX	+ 0.97	PRASX
PRSIX	+ 0.97	PRASX
BIECX	+ 0.94	PRASX
BIECX	+ 0.94	TRPBX
BIECX	+ 0.94	PRSIX

High negative correlations

PRASX	- 0.67	CHTTX
PRSIX	- 0.64	CHTTX
TRPBX	- 0.64	CHTTX
BIECX	- 0.57	CHTTX
VMNVX	- 0.56	CHTTX
HSVRX	- 0.13	CHTTX

Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern Mid 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 Mid'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
CHTTX	0.67	(0.01)	(0.16)	(0.48)	0.77	(0.71)	1.91	(1.25)	4.07
PRASX	0.75	0.05	0.03	0.18	0.89	(0.80)	1.46	(1.07)	5.36
TRPBX	0.29	0.00	(0.13)	0.11	0.26	(0.31)	0.69	(0.43)	2.62
HSVRX	0.78	(0.10)	(0.06)	0.04	0.92	(0.86)	2.07	(1.43)	7.16
PESPX	0.69	(0.10)	(0.09)	0.03	0.81	(0.76)	1.55	(1.17)	5.60
PRSIX	0.20	0.00	(0.22)	0.12	0.04	(0.23)	0.48	(0.29)	1.86
VMNVX	0.30	(0.01)	(0.19)	0.10	0.25	(0.33)	0.72	(0.53)	1.99
BIECX	0.53	0.12	0.00	(1.57)	0.51	(0.58)	1.08	(0.85)	3.63

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