Northern Small Correlations

Mutual Funds . USA . 
Fund . Northern Small Cap
NOSGX Fund  USD 12.40  0.15  1.20%   
The current 90-days correlation between Northern Small Cap and American Beacon Large is 0.94 (i.e., Almost no diversification). The correlation of Northern Small 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 Small Correlation With Market

Good diversification

The correlation between Northern Small Cap and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Small 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 Small 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 price.

Moving together with Northern Mutual Fund

  0.72NOAZX Northern Arizona TaxPairCorr
  0.98NOIEX Northern Income EquityPairCorr
  0.66NOITX Northern IntermediatePairCorr
  0.92NOMIX Northern Mid CapPairCorr
  0.97NOLCX Northern Large CapPairCorr
  0.97NOLVX Northern Large CapPairCorr
  0.71NOTEX Northern Tax ExemptPairCorr
  0.97NOSIX Northern Stock IndexPairCorr
  0.91BBALX Northern Global TacticalPairCorr
  0.93NSCKX Northern Small CapPairCorr
  0.93NSIDX Northern Small CapPairCorr
  0.99NSGRX Northern Small CapPairCorr
  0.83NSRKX Northern Global SustPairCorr
  0.92NSRIX Northern Global SustPairCorr
  0.68NCATX Northern California TaxPairCorr
  0.64NCITX Northern CaliforniaPairCorr
  0.9NUEIX Northern Quality EsgPairCorr
  0.9NUESX Northern Quality EsgPairCorr
  0.73NGREX Northern Global RealPairCorr
  0.81NHFIX Northern High YieldPairCorr
  0.86NMHYX Multi Manager HighPairCorr
  0.73NMMGX Multi Manager GlobalPairCorr
  0.93VSIIX Vanguard Small CapPairCorr

Moving against Northern Mutual Fund

  0.78NSIUX Northern Short InterPairCorr
  0.59NOUGX Northern GovernmentPairCorr
  0.5SWSFX Ultra Short FixedPairCorr
  0.42BSBAX Northern Short BondPairCorr
  0.31NOBOX Northern Bond IndexPairCorr
  0.46NUSFX Northern Ultra ShortPairCorr

Related Correlations Analysis

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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   
EMGRX
+ 0.87
AAGPX
CRSOX
+ 0.77
AAGPX
EMGRX
+ 0.7
CRSOX
HIINX
+ 0.54
AAGPX
CRSOX
+ 0.44
HIINX
EMGRX
+ 0.3
HIINX
  
High negative correlations   
EMGRX
- 0.4
MWTRX
MWTRX
- 0.13
CRSOX
MWTRX
- 0.06
AAGPX

Risk-Adjusted Indicators

There is a big difference between Northern Mutual Fund performing well and Northern Small 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 Small'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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