Northern Ultra Correlations

Mutual Funds . USA . 
Fund . Northern Ultra Short Fixed
NUSFX Fund  USD 10.34  0.01  0.1%   
The current 90-days correlation between Northern Ultra Short and Northern E Bond is 0.46 (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

Significant diversification

The correlation between Northern Ultra Short Fixed and DJI is 0.07 (i.e., Significant 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 price.

Moving together with Northern Mutual Fund

  0.92NOBOX Northern Bond IndexPairCorr
  0.94NOCBX Northern E BondPairCorr
  0.8NOAZX Northern Arizona TaxPairCorr
  0.91NOEMX Northern Emerging MarketsPairCorr
  0.94NOFIX Northern Fixed IncomePairCorr
  0.94NOIEX Northern Income EquityPairCorr
  0.87NOIGX Northern InternationalPairCorr
  0.75NOINX Northern InternationalPairCorr
  0.89NOITX Northern IntermediatePairCorr
  0.83NOMIX Northern Mid CapPairCorr
  0.96NOLCX Northern Large CapPairCorr
  0.89NOLVX Northern Large CapPairCorr
  0.71NOTEX Northern Tax ExemptPairCorr
  0.95NOSIX Northern Stock IndexPairCorr
  0.64NOSGX Northern Small CapPairCorr
  0.89NOUGX Northern GovernmentPairCorr
  0.98BSBAX Northern Short BondPairCorr
  0.94BBALX Northern Global TacticalPairCorr
  0.84NSCKX Northern Small CapPairCorr
  0.67NSIDX Northern Small CapPairCorr
  0.83NSGRX Northern Small CapPairCorr
  0.93NSIUX Northern Short InterPairCorr
  0.97NSITX Northern Short InterPairCorr
  0.94NSRKX Northern Global SustPairCorr
  0.94NSRIX Northern Global SustPairCorr
  0.99NTAUX Northern Tax AdvantagedPairCorr
  0.86SWSFX Ultra Short FixedPairCorr
  0.75NCATX Northern California TaxPairCorr
  0.96NCITX Northern CaliforniaPairCorr
  0.93NUEIX Northern Quality EsgPairCorr
  0.94NUESX Northern Quality EsgPairCorr
  0.67NGREX Northern Global RealPairCorr
  0.95NHFIX Northern High YieldPairCorr
  0.88NMFIX Multi Manager Global Potential GrowthPairCorr
  0.88NMIEX Active M InternationalPairCorr
  0.83NMHYX Multi Manager HighPairCorr
  0.94NMMEX Active M EmergingPairCorr
  0.9PTSPX Pimco Short TermPairCorr

Related Correlations Analysis


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
NOCBX  0.21  0.03 (0.30) 0.51  0.00 
(0.28)
 0.45 
(0.34)
 1.14 
NOAZX  0.09  0.00 (0.65) 0.09  0.00 
(0.17)
 0.22 
(0.22)
 0.65 
NOEMX  0.52  0.07  0.04  0.22  0.42 
(0.59)
 1.20 
(0.98)
 3.85 
NOFIX  0.21  0.03 (0.29) 0.75  0.00 
(0.30)
 0.45 
(0.34)
 1.26 
NOIEX  0.48  0.06  0.07  0.18  0.23 
(0.60)
 1.06 
(0.78)
 2.56 
NOIGX  0.55  0.02 (0.01) 0.14  0.52 
(0.67)
 1.26 
(1.27)
 3.58 
NOINX  0.61 (0.01)(0.03) 0.11  0.61 
(0.70)
 1.36 
(1.33)
 3.77 
NOITX  0.08  0.01 (0.76) 0.98  0.00 
(0.15)
 0.21 
(0.10)
 0.42 
NOMIX  0.64  0.00  0.02  0.11  0.61 
(0.74)
 1.32 
(1.30)
 3.60 
NOLCX  0.46  0.08  0.10  0.21  0.13 
(0.57)
 1.00 
(0.71)
 2.63 

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