Columbia High Correlations

Mutual Funds . USA . 
Fund . Columbia High Yield
CHMCX Fund  USD 9.30  0.05  0.54%   
The current 90-days correlation between Columbia High Yield and Nuveen High Yield is 0.23 (i.e., Modest diversification). The correlation of Columbia High 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.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Columbia High Yield. 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 main economic indicators.

Moving together with Columbia Mutual Fund

  0.83SRINX Columbia Porate IncomePairCorr
  0.82CUTRX Columbia Treasury IndexPairCorr
  0.75CDOZX Columbia DividendPairCorr
  0.8CEVZX Columbia Global EquityPairCorr
  0.83RPCCX Columbia Capital AllPairCorr
  0.79CGEZX Columbia Select GlobalPairCorr
  0.7SGTRX Columbia Seligman GlobalPairCorr
  0.69CKKRX Columbia Income BuilderPairCorr
  0.62ACRNX Columbia AcornPairCorr
  0.7CLXRX Columbia Large CapPairCorr
  0.93CMNYX Columbia Minnesota TaxPairCorr
  0.93CMNZX Columbia Minnesota TaxPairCorr
  0.65CPAYX Columbia Pacific/asiaPairCorr
  0.68CQTRX Columbia ThermostatPairCorr
  0.7CREYX Columbia Real EstatePairCorr
  0.97CADOX Columbia Minnesota TaxPairCorr
  0.72CBDYX Columbia BalancedPairCorr
  0.69NMIMX Columbia Large CapPairCorr
  0.94RMTCX Columbia Minnesota TaxPairCorr
  0.76NHMAX Nuveen High YieldPairCorr
  0.94NHCCX Nuveen High YieldPairCorr
  0.88NHMRX Nuveen High YieldPairCorr
  0.84NHMFX Nuveen High YieldPairCorr
  0.96ABHFX American High IncomePairCorr

Moving against Columbia Mutual Fund

  0.43NCIAX Columbia ConvertiblePairCorr
  0.36CMGUX Cmg Ultra ShortPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia High 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 Columbia High'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
NHMAX  0.25  0.02 (0.13) 0.35  0.32 
(0.27)
 0.62 
(0.60)
 1.84 
NHCCX  0.27  0.03 (0.11) 5.49  0.40 
(0.29)
 0.61 
(0.67)
 2.19 
NHMRX  0.23  0.01 (0.16) 0.16  0.30 
(0.28)
 0.61 
(0.54)
 1.95 
NHMFX  0.24  0.02 (0.15) 0.97  0.31 
(0.26)
 0.55 
(0.55)
 1.96 
ABHFX  0.20  0.01 (0.17)(1.85) 0.28 
(0.22)
 0.46 
(0.46)
 1.57 
AHICX  0.17  0.00 (0.23) 0.03  0.23 
(0.19)
 0.40 
(0.46)
 1.37 
AMHIX  0.17  0.00 (0.23) 0.07  0.22 
(0.20)
 0.46 
(0.46)
 1.43 
GHYCX  0.17  0.00 (0.18) 0.04  0.26 
(0.20)
 0.43 
(0.43)
 1.40 
GHYAX  0.19  0.00 (0.20) 0.07  0.27 
(0.21)
 0.43 
(0.43)
 1.51 
ACTDX  0.22  0.00 (0.14) 0.05  0.35 
(0.28)
 0.48 
(0.58)
 1.88 

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