Columbia Minnesota Correlations

CMNZX Fund

USD 19.88 0.11 0.55%

The current 90-days correlation between Columbia Minnesota Tax and Blrc Sgy Mnp is 0.26 (i.e., Modest diversification). The correlation of Columbia Minnesota 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 Minnesota Correlation With Market

Very good diversification

The correlation between Columbia Minnesota Tax Exempt and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Minnesota Tax Exempt 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 Minnesota Tax Exempt. 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 nation.

Moving together with Columbia Mutual Fund

0.7	SRINX	Columbia Porate Income	Pair Corr
0.69	AMTCX	Columbia Capital All	Pair Corr
0.7	CEBYX	Columbia Emerging Markets	Pair Corr
0.69	CEBRX	Columbia Emerging Markets	Pair Corr
0.76	CEPRX	Columbia Income Oppo	Pair Corr
0.7	RPCCX	Columbia Capital All	Pair Corr

Moving against Columbia Mutual Fund

0.64

CEMHX

Columbia Emerging Markets

Pair Corr

Related Correlations Analysis

	MDMTX	PRFHX	MSTBX	MBSAX	AFB	TTRBX	BBINX
MDMTX		0.87	0.69	0.78	0.75	0.76	0.92	MDMTX
PRFHX	0.87		0.66	0.76	0.79	0.68	0.96	PRFHX
MSTBX	0.69	0.66		0.72	0.79	0.92	0.68	MSTBX
MBSAX	0.78	0.76	0.72		0.63	0.68	0.83	MBSAX
AFB	0.75	0.79	0.79	0.63		0.86	0.77	AFB
TTRBX	0.76	0.68	0.92	0.68	0.86		0.71	TTRBX
BBINX	0.92	0.96	0.68	0.83	0.77	0.71		BBINX
	MDMTX	PRFHX	MSTBX	MBSAX	AFB	TTRBX	BBINX

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Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Minnesota 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 Minnesota'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
MDMTX	0.17	(0.01)	(0.30)	(0.15)	0.25	(0.25)	0.38	(0.56)	1.33
PRFHX	0.15	0.01	(0.28)	0.04	0.24	(0.22)	0.44	(0.44)	1.61
MSTBX	0.09	(0.02)	0.00	(0.74)	0.00	0.00	0.20	(0.21)	0.72
MBSAX	0.21	(0.01)	(0.35)	0.04	0.24	(0.22)	0.37	(0.44)	1.25
AFB	0.52	0.01	(0.16)	(0.11)	0.61	(0.57)	1.13	(0.95)	2.89
TTRBX	0.13	(0.02)	0.00	(0.47)	0.00	0.00	0.30	(0.30)	0.70
BBINX	0.12	0.01	(0.42)	0.04	0.15	(0.20)	0.29	(0.29)	1.07

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