North Star Correlations

NSDVX Fund

USD 23.21 0.13 0.56%

The current 90-days correlation between North Star Dividend and North Star Micro is 0.89 (i.e., Very poor diversification). The correlation of North Star 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.

North Star Correlation With Market

Poor diversification

The correlation between North Star Dividend and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding North Star Dividend 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 North Star Dividend. 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 real.

Moving together with North Mutual Fund

0.92	NSMVX	North Star Micro	Pair Corr
0.9	VSIIX	Vanguard Small Cap	Pair Corr
0.96	VISVX	Vanguard Small Cap	Pair Corr
0.97	DFSVX	Us Small Cap	Pair Corr
0.96	DFFVX	Us Targeted Value	Pair Corr
0.88	UBVCX	Undiscovered Managers	Pair Corr
0.88	UBVAX	Undiscovered Managers	Pair Corr
0.94	UBVSX	Undiscovered Managers	Pair Corr
0.96	AVFIX	American Beacon Small	Pair Corr
0.61	XNKGX	Nuveen Georgia Quality	Pair Corr
0.68	XPPRX	Voya Prime Rate	Pair Corr
0.7	PCF	Putnam High Income	Pair Corr
0.85	TWQAX	Transamerica Large Cap	Pair Corr
0.87	PXSAX	Pax Small Cap	Pair Corr
0.94	FCMVX	Fidelity Mid Cap	Pair Corr
0.82	VPRAX	Voya T Rowe	Pair Corr
0.67	PGTIX	T Rowe Price	Pair Corr
0.7	LGCAX	Lord Abbett Global	Pair Corr
0.76	VIGAX	Vanguard Growth Index	Pair Corr
0.87	NICSX	Nicholas Fund	Pair Corr
0.65	APHPX	Artisan Global Uncon	Pair Corr
0.86	PHIKX	Columbia Vertible	Pair Corr
0.79	VFINX	Vanguard 500 Index	Pair Corr
0.9	AMLPX	Maingate Mlp	Pair Corr
0.88	FSMDX	Fidelity Mid Cap	Pair Corr
0.64	ISEIX	Voya Index Solution	Pair Corr
0.92	TVRFX	Thornburg Value	Pair Corr

Moving against North Mutual Fund

0.48	NXJ	Nuveen New Jersey	Pair Corr
0.42	XNBHX	Neuberger Berman Int	Pair Corr
0.38	XNXJX	Nuveen New Jersey	Pair Corr

Related Correlations Analysis

	NSMVX	NSOIX	COPLX	GWETX	MECIX
NSMVX		0.32	0.87	0.93	-0.47	NSMVX
NSOIX	0.32		0.16	0.21	-0.06	NSOIX
COPLX	0.87	0.16		0.93	-0.75	COPLX
GWETX	0.93	0.21	0.93		-0.62	GWETX
MECIX	-0.47	-0.06	-0.75	-0.62		MECIX
	NSMVX	NSOIX	COPLX	GWETX	MECIX

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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

GWETX	+ 0.93	NSMVX
GWETX	+ 0.93	COPLX
COPLX	+ 0.87	NSMVX
NSOIX	+ 0.32	NSMVX
GWETX	+ 0.21	NSOIX
COPLX	+ 0.16	NSOIX

High negative correlations

MECIX	- 0.75	COPLX
MECIX	- 0.62	GWETX
MECIX	- 0.47	NSMVX
MECIX	- 0.06	NSOIX

Risk-Adjusted Indicators

There is a big difference between North Mutual Fund performing well and North Star 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 North Star'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
NSMVX	0.77	(0.02)	(0.01)	0.04	0.95	(0.88)	1.84	(1.42)	7.59
NSOIX	0.51	(0.07)	0.00	(0.04)	0.00	0.00	1.00	(0.77)	5.85
COPLX	0.43	0.06	0.11	0.13	0.19	(0.57)	1.04	(0.71)	4.07
GWETX	0.83	(0.02)	0.01	0.04	0.97	(0.92)	1.79	(1.55)	10.51
MECIX	0.57	(0.15)	0.00	(0.46)	0.00	0.00	1.14	(1.05)	4.78

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