Northern Fixed Correlations

Mutual Funds . USA . 
Fund . Northern Fixed Income
NOFIX Fund  USD 9.09  0.03  0.33%   
The current 90-days correlation between Northern Fixed Income and Small Cap Value Fund is 0.2 (i.e., Modest diversification). The correlation of Northern Fixed 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 Fixed Correlation With Market

Weak diversification

The correlation between Northern Fixed Income and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Fixed Income 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 Fixed Income. 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

  0.96NOBOX Northern Bond IndexPairCorr
  0.98NOCBX Northern E BondPairCorr
  0.81NOAZX Northern Arizona TaxPairCorr
  0.68NOEMX Northern Emerging MarketsPairCorr
  0.78NOIEX Northern Income EquityPairCorr
  0.75NOIGX Northern InternationalPairCorr
  0.73NOINX Northern InternationalPairCorr
  0.79NOITX Northern IntermediatePairCorr
  0.8BBALX Northern Global TacticalPairCorr
  0.71NSCKX Northern Small CapPairCorr
  0.87NSIUX Northern Short-intermediaPairCorr
  0.73NMIEX Active M InternationalPairCorr
  0.94DODIX Dodge IncomePairCorr
  0.95DOXIX Dodge Cox IncomePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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