Northern Ultra Correlations

Mutual Funds . USA . 
Fund . Northern Ultra Short Fixed
NUSFX Fund  USD 10.32  0.00  0.00%   
The current 90-days correlation between Northern Ultra Short and Northern Bond Index is 0.52 (i.e., Very weak diversification). The correlation of Northern Ultra 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 Ultra Correlation With Market

Average diversification

The correlation between Northern Ultra Short Fixed and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Ultra Short Fixed 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 Ultra Short Fixed. 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 census.

Moving together with Northern Mutual Fund

  0.78NOBOX Northern Bond IndexPairCorr
  0.83NOCBX Northern E BondPairCorr
  0.65NOAZX Northern Arizona TaxPairCorr
  0.88NOFIX Northern Fixed IncomePairCorr
  0.94NOIEX Northern Income EquityPairCorr
  0.93NOIGX Northern InternationalPairCorr
  0.91NOINX Northern InternationalPairCorr
  0.92NOITX Northern IntermediatePairCorr
  0.89NOMIX Northern Mid CapPairCorr
  0.94NOLCX Northern Large CapPairCorr
  0.92NOLVX Northern Large CapPairCorr
  0.79NOTEX Northern Tax ExemptPairCorr
  0.98BSBAX Northern Short BondPairCorr
  0.95BBALX Northern Global TacticalPairCorr
  0.91NSCKX Northern Small CapPairCorr
  0.92NSIDX Northern Small CapPairCorr
  0.91NSGRX Northern Small CapPairCorr
  0.74NSIUX Northern Short InterPairCorr
  0.98NSITX Northern Short InterPairCorr
  0.93NSRKX Northern Global SustPairCorr
  0.93NSRIX Northern Global SustPairCorr
  0.98NTAUX Northern Tax AdvantagedPairCorr
  0.82NCATX Northern California TaxPairCorr
  0.97NCITX Northern CaliforniaPairCorr
  0.93NUEIX Northern Quality EsgPairCorr
  0.92NUESX Northern Quality EsgPairCorr
  0.88NGREX Northern Global RealPairCorr
  0.96NHFIX Northern High YieldPairCorr
  0.92NMFIX Multi Manager GlobalPairCorr
  0.94NMIEX Active M InternationalPairCorr
  0.95NMHYX Multi Manager HighPairCorr
  0.84NMMGX Multi Manager GlobalPairCorr
  0.94NMMEX Active M EmergingPairCorr
  0.93PTSPX Pimco Short TermPairCorr
  0.93PTSHX Short Term FundPairCorr
  0.63PSFAX Short Term FundPairCorr

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 Ultra 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 Ultra'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)(0.64) 0.25 
(0.34)
 0.56 
(0.55)
 1.43 
NOCBX  0.25  0.03 (0.31)(3.93) 0.20 
(0.30)
 0.57 
(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  0.21  0.24  0.61  0.00 
(0.64)
 1.71 
(0.69)
 4.12 
NOFIX  0.26  0.03 (0.31)(3.64) 0.21 
(0.32)
 0.58 
(0.56)
 1.38 
NOIEX  0.63  0.26  0.13 (3.29) 0.51 
(0.78)
 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  0.56  0.21  0.09 (2.90) 0.40 
(0.65)
 1.46 
(1.17)
 3.24 
NOITX  0.13  0.01 (0.41) 4.67  0.13 
(0.17)
 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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