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Correlation Between Northern Funds and American Mutual

Analyzing existing cross correlation between Northern Funds Large Cap Value and American Mutual Fund Class F 1. You can compare the effects of market volatilities on Northern Funds and American Mutual and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Northern Funds with a short position of American Mutual. Check out your portfolio center. Please also check ongoing floating volatility patterns of Northern Funds and American Mutual.

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Diversification Opportunities for Northern Funds and American Mutual

Northern Funds Large Cap Value diversification synergy
0.86
NO
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Very poor diversification

The 3 months correlation between Northern and American is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Northern Funds Large Cap Value and American Mutual Fund Class F 1 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on American Mutual Fund and Northern Funds is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Northern Funds Large Cap Value are associated (or correlated) with American Mutual. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Mutual Fund has no effect on the direction of Northern Funds i.e. Northern Funds and American Mutual go up and down completely randomly.

Pair Corralation between Northern Funds and American Mutual

Assuming 30 trading days horizon, Northern Funds Large Cap Value is expected to under-perform the American Mutual. In addition to that, Northern Funds is 1.04 times more volatile than American Mutual Fund Class F 1. It trades about -0.18 of its total potential returns per unit of risk. American Mutual Fund Class F 1 is currently generating about -0.14 per unit of volatility. If you would invest  4,359  in American Mutual Fund Class F 1 on January 28, 2020 and sell it today you would lose (504.00)  from holding American Mutual Fund Class F 1 or give up 11.56% of portfolio value over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Northern Funds Large Cap Value  vs.  American Mutual Fund Class F 1

 Performance (%) 
    
  Timeline 
Northern Funds Large 
00

Risk-Adjusted Fund Performance

Over the last 30 days Northern Funds Large Cap Value has generated negative risk-adjusted returns adding no value to fund investors. Inspite weak performance in the last few months, the Fund's basic indicators remain fairly strong which may send shares a bit higher in March 2020. The current disturbance may also be a sign of long term up-swing for the fund investors.
American Mutual Fund 
00

Risk-Adjusted Fund Performance

Over the last 30 days American Mutual Fund Class F 1 has generated negative risk-adjusted returns adding no value to fund investors. Inspite latest weak performance, the Fund's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the fund investors.

Northern Funds and American Mutual Volatility Contrast

 Predicted Return Density 
    
  Returns 
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