Northern Technologies Correlations

NTIC Stock

USD 7.95 0.04 0.50%

The current 90-days correlation between Northern Technologies and Innospec is -0.08 (i.e., Good diversification). The correlation of Northern Technologies 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.

Northern Technologies Correlation With Market

Significant diversification

The correlation between Northern Technologies and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Northern Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Northern Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For information on how to trade Northern Stock refer to our How to Trade Northern Stock guide.

Moving together with Northern Stock

0.7	CC	Chemours Earnings Call This Week	Pair Corr
0.74	DD	Dupont De Nemours	Pair Corr
0.83	ALB-PA	Albemarle	Pair Corr
0.82	ALB	Albemarle Corp	Pair Corr
0.76	APD	Air Products	Pair Corr
0.76	ESI	Element Solutions	Pair Corr
0.78	FSI	Flexible Solutions	Pair Corr
0.86	FUL	H B Fuller	Pair Corr
0.78	KWR	Quaker Chemical	Pair Corr
0.73	LYB	LyondellBasell Industries	Pair Corr
0.78	NEU	NewMarket	Pair Corr
0.77	PRM	Perimeter Solutions Sell-off Trend	Pair Corr
0.67	SQM	Sociedad Quimica y	Pair Corr
0.7	SXT	Sensient Technologies Earnings Call This Week	Pair Corr
0.72	GEVO	Gevo Inc	Pair Corr
0.78	HWKN	Hawkins	Pair Corr

Moving against Northern Stock

0.62	FEAM	5E Advanced Materials	Pair Corr
0.52	SDSTW	Stardust Power	Pair Corr

Related Correlations Analysis

	IOSP	FUL	KWR	MTX	ODC	SXT	ECVT	ESI
IOSP		-0.08	-0.27	0.0	-0.46	-0.04	-0.34	-0.11	IOSP
FUL	-0.08		0.86	0.45	0.73	0.78	0.74	0.88	FUL
KWR	-0.27	0.86		0.31	0.85	0.76	0.81	0.83	KWR
MTX	0.0	0.45	0.31		0.3	0.2	0.4	0.39	MTX
ODC	-0.46	0.73	0.85	0.3		0.78	0.93	0.79	ODC
SXT	-0.04	0.78	0.76	0.2	0.78		0.85	0.93	SXT
ECVT	-0.34	0.74	0.81	0.4	0.93	0.85		0.88	ECVT
ESI	-0.11	0.88	0.83	0.39	0.79	0.93	0.88		ESI
	IOSP	FUL	KWR	MTX	ODC	SXT	ECVT	ESI

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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

ECVT	+ 0.93	ODC
ESI	+ 0.93	SXT
ESI	+ 0.88	FUL
ESI	+ 0.88	ECVT
KWR	+ 0.86	FUL
ODC	+ 0.85	KWR

High negative correlations

ODC	- 0.46	IOSP
ECVT	- 0.34	IOSP
KWR	- 0.27	IOSP
ESI	- 0.11	IOSP
FUL	- 0.08	IOSP
SXT	- 0.04	IOSP

Risk-Adjusted Indicators

There is a big difference between Northern Stock performing well and Northern Technologies Company 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 Technologies' 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
IOSP	1.08	(0.17)	0.00	(0.08)	0.00	0.00	2.47	(2.76)	6.32
FUL	1.55	0.22	0.06	(6.36)	1.43	(1.92)	3.43	(2.56)	13.34
KWR	1.91	0.29	0.06	(0.77)	1.75	(2.33)	4.98	(3.47)	15.11
MTX	1.62	(0.13)	(0.04)	0.02	2.46	(1.65)	3.12	(3.37)	12.14
ODC	1.47	0.44	0.23	0.64	1.30	(1.70)	3.13	(2.74)	12.23
SXT	1.23	0.52	0.58	1.07	0.00	(1.58)	4.75	(1.08)	15.95
ECVT	1.77	0.51	0.19	1.01	1.90	(2.01)	4.82	(2.79)	14.44
ESI	1.66	0.53	0.20	(1.13)	1.44	(2.04)	3.98	(2.86)	11.49

Northern Technologies Corporate Executives

Elected by the shareholders, the Northern Technologies' board of directors comprises two types of representatives: Northern Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Northern. The board's role is to monitor Northern Technologies' management team and ensure that shareholders' interests are well served. Northern Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Northern Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.

Matthew CPA

CFO Secretary

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