North Star Correlations

NSOIX Fund

USD 17.44 0.11 0.63%

The current 90-days correlation between North Star Opportunity and North Star Dividend is 0.77 (i.e., 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 Opportunity and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding North Star Opportunity 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 Opportunity. 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 North Mutual Fund

1.0	NSOPX	North Star Opportunity	Pair Corr
0.71	IFACX	Income Fund	Pair Corr
0.7	AMECX	Income Fund	Pair Corr
0.71	RIDBX	Income Fund	Pair Corr
0.71	CIMEX	Income Fund	Pair Corr
0.7	RIDFX	Income Fund	Pair Corr
0.72	CIMCX	Income Fund	Pair Corr
0.7	CIMFX	Income Fund	Pair Corr

Moving against North Mutual Fund

0.57

CIOCX

Columbia Porate Income

Pair Corr

Related Correlations Analysis

	NSDVX	NSMVX	NSOIX	NSOPX	VEXRX	FLRUX	WCPSX	VIGAX	TNHIX	FMAGX
NSDVX		0.92	0.32	0.32	0.94	0.34	0.81	0.76	0.71	0.76	NSDVX
NSMVX	0.92		0.32	0.32	0.96	0.59	0.78	0.76	0.77	0.75	NSMVX
NSOIX	0.32	0.32		1.0	0.25	-0.04	-0.06	-0.04	-0.12	0.48	NSOIX
NSOPX	0.32	0.32	1.0		0.25	-0.03	-0.07	-0.04	-0.11	0.48	NSOPX
VEXRX	0.94	0.96	0.25	0.25		0.49	0.88	0.86	0.82	0.79	VEXRX
FLRUX	0.34	0.59	-0.04	-0.03	0.49		0.33	0.36	0.67	0.21	FLRUX
WCPSX	0.81	0.78	-0.06	-0.07	0.88	0.33		0.97	0.83	0.7	WCPSX
VIGAX	0.76	0.76	-0.04	-0.04	0.86	0.36	0.97		0.8	0.71	VIGAX
TNHIX	0.71	0.77	-0.12	-0.11	0.82	0.67	0.83	0.8		0.52	TNHIX
FMAGX	0.76	0.75	0.48	0.48	0.79	0.21	0.7	0.71	0.52		FMAGX
	NSDVX	NSMVX	NSOIX	NSOPX	VEXRX	FLRUX	WCPSX	VIGAX	TNHIX	FMAGX

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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

NSOPX	+ 1.0	NSOIX
VIGAX	+ 0.97	WCPSX
VEXRX	+ 0.96	NSMVX
VEXRX	+ 0.94	NSDVX
NSMVX	+ 0.92	NSDVX
WCPSX	+ 0.88	VEXRX

High negative correlations

TNHIX	- 0.12	NSOIX
TNHIX	- 0.11	NSOPX
WCPSX	- 0.07	NSOPX
WCPSX	- 0.06	NSOIX
VIGAX	- 0.04	NSOPX
VIGAX	- 0.04	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
NSDVX	0.65	(0.02)	(0.02)	0.04	0.69	(0.74)	1.48	(1.21)	6.31
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
NSOPX	0.51	(0.08)	0.00	(0.04)	0.00	0.00	1.00	(0.82)	5.81
VEXRX	0.70	0.01	0.02	0.07	0.76	(0.72)	1.49	(1.27)	5.78
FLRUX	0.23	(0.03)	0.00	(0.06)	0.00	0.00	0.47	(0.47)	1.23
WCPSX	0.88	0.24	0.18	0.35	0.90	(0.99)	2.02	(1.77)	7.05
VIGAX	0.65	0.15	0.14	0.27	0.63	(0.67)	1.64	(1.40)	5.18
TNHIX	0.10	0.00	(0.22)	(0.01)	0.12	(0.16)	0.24	(0.23)	1.17
FMAGX	0.63	0.05	0.00	0.50	0.88	(0.62)	1.38	(1.48)	5.39

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