Columbia Emerging Correlations

CMBRX Fund

USD 9.52 0.04 0.42%

The current 90-days correlation between Columbia Emerging Markets and Blackrock High Yield is 0.46 (i.e., Very weak diversification). The correlation of Columbia Emerging 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.

Columbia Emerging Correlation With Market

Significant diversification

The correlation between Columbia Emerging Markets and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Columbia Emerging Markets. 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 metropolitan statistical area.

Moving together with Columbia Mutual Fund

0.85	SRINX	Columbia Porate Income	Pair Corr
0.65	CUTRX	Columbia Treasury Index	Pair Corr
0.65	CUTYX	Columbia Treasury Index	Pair Corr
0.89	CDLRX	Columbia Limited Duration	Pair Corr
0.64	AMTCX	Columbia Capital All	Pair Corr
0.94	CEBYX	Columbia Emerging Markets	Pair Corr
1.0	CEBSX	Columbia Emerging Markets	Pair Corr
1.0	CEBRX	Columbia Emerging Markets	Pair Corr
0.71	CEPRX	Columbia Income Oppo	Pair Corr
0.79	RPCCX	Columbia Capital All	Pair Corr

Moving against Columbia Mutual Fund

0.31	CDAZX	Multi Manager Direct	Pair Corr
0.35	CLM	Cornerstone Strategic	Pair Corr

Related Correlations Analysis

	BHYRX	FAGIX	GMOZX	PYICX	ACHFX	PHYSX
BHYRX		0.78	0.92	0.98	0.99	0.85	BHYRX
FAGIX	0.78		0.79	0.75	0.81	0.95	FAGIX
GMOZX	0.92	0.79		0.95	0.94	0.85	GMOZX
PYICX	0.98	0.75	0.95		0.99	0.84	PYICX
ACHFX	0.99	0.81	0.94	0.99		0.87	ACHFX
PHYSX	0.85	0.95	0.85	0.84	0.87		PHYSX
	BHYRX	FAGIX	GMOZX	PYICX	ACHFX	PHYSX

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Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Emerging 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 Emerging'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BHYRX	0.12	0.02	(0.52)	(1.47)	(0.23)	0.28	(0.28)	0.85
FAGIX	0.20	0.05	(0.22)	3.42	(0.28)	0.41	(0.30)	1.21
GMOZX	0.13	0.02	(0.52)	2.07	(0.18)	0.28	(0.33)	0.90
PYICX	0.11	0.02	(0.61)	(1.31)	(0.17)	0.22	(0.22)	0.78
ACHFX	0.13	0.02	(0.55)	(0.94)	(0.21)	0.35	(0.23)	0.93
PHYSX	0.11	0.02	(0.54)	0.40	(0.16)	0.22	(0.22)	0.78

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