Northern Trust Correlations

NTRSO Preferred Stock

USD 20.15 0.08 0.40%

The current 90-days correlation between Northern Trust and Julius Baer Group is 0.2 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Northern Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northern Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Northern Trust Correlation With Market

Weak diversification

The correlation between Northern Trust and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Trust and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Northern Trust could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Northern Trust when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Northern Trust - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Northern Trust to buy it.

Moving together with Northern Preferred Stock

0.66	DHIL	Diamond Hill Investment	Pair Corr
0.77	BX	Blackstone Group	Pair Corr
0.67	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.73	WT	WisdomTree Sell-off Trend	Pair Corr
0.65	PSEC-PA	Prospect Capital	Pair Corr
0.83	STT-PG	State Street	Pair Corr
0.68	VRTS	Virtus Investment Earnings Call This Week	Pair Corr
0.66	AMG	Affiliated Managers Earnings Call This Week	Pair Corr
0.75	APO	Apollo Global Management	Pair Corr
0.68	BLK	BlackRock	Pair Corr
0.66	FHI	Federated Investors Earnings Call Tomorrow	Pair Corr
0.77	IVZ	Invesco Plc Normal Trading	Pair Corr
0.63	JHG	Janus Henderson Group	Pair Corr
0.71	KKR	KKR Co LP Normal Trading	Pair Corr

Moving against Northern Preferred Stock

0.5	GCMGW	GCM Grosvenor	Pair Corr
0.43	BCG	Binah Capital Group,	Pair Corr

Related Correlations Analysis

	RMGOF	PGPHF	JBAXY	MIO	FITBO	FCNCP	ACGLO	FITBP
RMGOF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	RMGOF
PGPHF	0.0		0.68	0.34	0.22	-0.04	0.36	0.17	PGPHF
JBAXY	0.0	0.68		0.62	0.31	0.41	0.57	0.6	JBAXY
MIO	0.0	0.34	0.62		0.06	0.73	0.33	0.49	MIO
FITBO	0.0	0.22	0.31	0.06		-0.2	-0.24	-0.03	FITBO
FCNCP	0.0	-0.04	0.41	0.73	-0.2		0.5	0.73	FCNCP
ACGLO	0.0	0.36	0.57	0.33	-0.24	0.5		0.81	ACGLO
FITBP	0.0	0.17	0.6	0.49	-0.03	0.73	0.81		FITBP
	RMGOF	PGPHF	JBAXY	MIO	FITBO	FCNCP	ACGLO	FITBP

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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

FITBP	+ 0.81	ACGLO
FCNCP	+ 0.73	MIO
FITBP	+ 0.73	FCNCP
JBAXY	+ 0.68	PGPHF
MIO	+ 0.62	JBAXY
FITBP	+ 0.6	JBAXY

High negative correlations

ACGLO	- 0.24	FITBO
FCNCP	- 0.2	FITBO
FCNCP	- 0.04	PGPHF
FITBP	- 0.03	FITBO
FITBP	- 0.0	RMGOF
ACGLO	- 0.0	RMGOF

Risk-Adjusted Indicators

There is a big difference between Northern Preferred Stock performing well and Northern Trust Company 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 Trust'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
RMGOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PGPHF	1.81	0.21	0.03	(7.24)	2.30	(1.86)	4.02	(3.79)	14.17
JBAXY	1.13	0.10	0.05	0.24	1.39	(1.24)	2.40	(2.55)	8.61
MIO	0.38	0.05	(0.14)	0.60	0.30	(0.47)	0.86	(0.85)	3.90
FITBO	0.70	0.03	(0.12)	(0.27)	0.96	(0.73)	1.44	(1.19)	5.29
FCNCP	0.53	0.07	(0.08)	35.98	0.66	(0.55)	1.08	(0.96)	4.12
ACGLO	0.40	0.03	(0.16)	0.27	0.38	(0.46)	1.10	(0.82)	2.68
FITBP	0.41	0.02	(0.16)	0.25	0.46	(0.45)	1.01	(0.98)	2.43

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Our tools can tell you how much better you can do entering a position in Northern Trust without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Northern Trust Corporate Management

Michael OGrady	Chairman CEO	Profile
Jennifer CFA	VP Relations	Profile
Briar Rose	VP Relations	Profile
Ian Headon	Head Services	Profile
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