NORTHERN INCOME Correlations

NOIEX Fund

USD 18.56 -0.01 -0.05%

Current 90-days correlation between Northern Income Equity and Templeton Emerging Markets is 0.41 (i.e., Very weak diversification).Correlation analysis for NORTHERN INCOME quantifies the degree to which its price movements mirror or diverge from those of related assets. A coefficient near +1 signals strong co-movement, while a coefficient near -1 indicates consistent opposite movement.

Market Correlation - NORTHERN INCOME

Poor diversification

Across the chosen horizon, NOIEX and DJI show a correlation of 0.77 and fall into the Poor diversification bucket. In portfolio terms, the overlap visualization shows how much shared movement remains after both positions are combined.

NORTHERN INCOME has P/E of 17.55. Use Correlation Analysis to explore allocation context. This includes a position in Northern Income Equity in the portfolio view. 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 small area income & poverty estimates.

Moving together with NORTHERN Mutual Fund

0.78	NOFIX	Northern Fixed Income	Pair Corr
0.92	NOINX	Northern International	Pair Corr
0.84	NOITX	Northern Intermediate	Pair Corr
0.85	NOMIX	Northern Mid Cap	Pair Corr
0.68	NOLCX	Northern Large Cap	Pair Corr
0.92	NOLVX	Northern Large Cap	Pair Corr
0.64	NOSIX	Northern Stock Index	Pair Corr
0.85	NOSGX	Northern Small Cap	Pair Corr
0.65	NOUGX	Northern Government	Pair Corr
0.94	BBALX	Northern Global Tactical	Pair Corr
0.78	NSIDX	Northern Small Cap	Pair Corr
0.75	NSGRX	Northern Small Cap	Pair Corr
0.73	NSIUX	NORTHERN SHORT-INTERMEDIA	Pair Corr
0.74	NSRKX	Northern Global	Pair Corr
0.84	SWSFX	Ultra Short Fixed	Pair Corr
0.82	NCATX	Northern California Tax	Pair Corr
0.8	NUSFX	Northern Ultra Short	Pair Corr
0.9	NHFIX	Northern High Yield	Pair Corr
0.81	NMFIX	Multi Manager Global	Pair Corr
0.85	NMIEX	Active M International	Pair Corr
0.83	NMHYX	Multi Manager High	Pair Corr
0.89	VVIAX	Vanguard Value Index	Pair Corr
0.81	AWSHX	Washington Mutual	Pair Corr
0.8	WSHCX	Washington Mutual	Pair Corr
0.94	WSHFX	Washington Mutual	Pair Corr
0.8	FWWMX	American Funds Washington	Pair Corr
0.8	FWMMX	American Funds Washington	Pair Corr
0.87	DODGX	Dodge Stock Fund	Pair Corr
0.93	AMFFX	American Mutual	Pair Corr
0.93	AMFCX	American Mutual	Pair Corr
0.69	LSHUX	Horizon Spin Off	Pair Corr
0.67	LSHAX	Horizon Spin Off	Pair Corr
0.69	LSHEX	Kinetics Spin Off	Pair Corr
0.7	LSHCX	Horizon Spin Off	Pair Corr
0.8	OEPSX	Oil Equipment Services	Pair Corr
0.86	FEGRX	First Eagle Global	Pair Corr
0.9	TEMLX	TIAA Cref Emerging	Pair Corr

Moving against NORTHERN Mutual Fund

0.63

CISGX

Touchstone Sands Capital

Pair Corr

Related Correlations Analysis

	ACV	ERC	NSCCX	PSF	TRRUX	RLTY	POPFX	FMPFX	IIF	EMF
ACV		0.74	0.79	0.79	0.85	0.49	-0.23	0.39	-0.52	0.86	ACV
ERC	0.74		0.59	0.92	0.62	0.48	-0.2	0.28	-0.2	0.78	ERC
NSCCX	0.79	0.59		0.66	0.85	0.5	-0.35	0.49	-0.4	0.8	NSCCX
PSF	0.79	0.92	0.66		0.7	0.56	-0.28	0.31	-0.24	0.85	PSF
TRRUX	0.85	0.62	0.85	0.7		0.69	-0.5	0.24	-0.51	0.88	TRRUX
RLTY	0.49	0.48	0.5	0.56	0.69		-0.85	-0.31	-0.57	0.76	RLTY
POPFX	-0.23	-0.2	-0.35	-0.28	-0.5	-0.85		0.38	0.52	-0.55	POPFX
FMPFX	0.39	0.28	0.49	0.31	0.24	-0.31	0.38		0.26	0.12	FMPFX
IIF	-0.52	-0.2	-0.4	-0.24	-0.51	-0.57	0.52	0.26		-0.58	IIF
EMF	0.86	0.78	0.8	0.85	0.88	0.76	-0.55	0.12	-0.58		EMF
	ACV	ERC	NSCCX	PSF	TRRUX	RLTY	POPFX	FMPFX	IIF	EMF

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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

PSF	+ 0.92	ERC
EMF	+ 0.88	TRRUX
EMF	+ 0.86	ACV
TRRUX	+ 0.85	ACV
TRRUX	+ 0.85	NSCCX
EMF	+ 0.85	PSF

High negative correlations

POPFX	- 0.85	RLTY
EMF	- 0.58	IIF
IIF	- 0.57	RLTY
EMF	- 0.55	POPFX
IIF	- 0.52	ACV
IIF	- 0.51	TRRUX

Risk-Adjusted Indicators

There is a big difference between NORTHERN Mutual Fund performing well and NORTHERN INCOME 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 INCOME'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
ACV	0.79	0.06	0.06	0.08	1.03	-0.79	1.50	-1.85	5.06
ERC	0.32	-0.02	0.00	-0.16	0.00	0.00	0.65	-0.65	2.15
NSCCX	1.04	0.24	0.20	0.18	0.88	-1.20	2.25	-1.88	14.76
PSF	0.29	-0.03	0.00	-0.14	0.00	0.00	0.45	-0.65	2.25
TRRUX	0.27	0.07	0.23	-2.39	0.00	-0.35	0.49	-0.48	4.67
RLTY	0.58	0.08	0.12	0.29	0.57	-0.63	1.27	-1.04	3.21
POPFX	1.32	-0.59	0.00	-20.29	0.00	0.00	1.01	-1.17	41.75
FMPFX	0.99	-0.02	0.00	-0.03	0.00	0.00	1.50	-2.21	7.54
IIF	0.67	-0.12	0.00	-0.21	0.00	0.00	0.99	-1.64	5.51
EMF	1.05	0.26	0.16	0.36	1.35	-1.12	2.27	-1.96	9.56

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