Columbia Pacific/asia Correlations

CPAYX Fund

USD 11.05 0.05 0.45%

The correlation of Columbia Pacific/asia 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 Pacific/asia Correlation With Market

Weak diversification

The correlation between Columbia Pacificasia Fund and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Pacificasia Fund 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 Pacificasia Fund. 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 manufacturing.

Moving together with Columbia Mutual Fund

0.87	CDEYX	Columbia Diversified	Pair Corr
0.91	CVERX	Columbia Mid Cap	Pair Corr
0.84	CEVZX	Columbia Global Equity	Pair Corr
0.66	CHMCX	Columbia High Yield	Pair Corr
0.65	RTCEX	Columbia Strategic	Pair Corr
0.86	CLSPX	Columbia Mid Cap	Pair Corr
0.82	CREYX	Columbia Real Estate	Pair Corr
0.68	CSVFX	Columbia Global Dividend	Pair Corr
0.84	CCTRX	Columbia Small Cap	Pair Corr
0.85	VVIAX	Vanguard Value Index	Pair Corr
0.81	DOXGX	Dodge Cox Stock	Pair Corr
0.85	AFMFX	American Mutual	Pair Corr
0.85	FFMMX	American Funds American	Pair Corr
0.85	FFFMX	American Funds American	Pair Corr
0.85	AMRMX	American Mutual	Pair Corr
0.77	AMFFX	American Mutual	Pair Corr
0.77	AMFCX	American Mutual	Pair Corr
0.87	DODGX	Dodge Stock Fund	Pair Corr
0.85	VIVAX	Vanguard Value Index	Pair Corr
0.76	PCF	Putnam High Income	Pair Corr
0.61	XNBHX	Neuberger Berman Int	Pair Corr
0.64	USA	Liberty All Star	Pair Corr

Moving against Columbia Mutual Fund

0.46	CMGUX	Cmg Ultra Short	Pair Corr
0.61	DXKSX	Direxion Monthly 7	Pair Corr
0.43	XNKGX	Nuveen Georgia Quality	Pair Corr
0.42	LFRIX	Floating Rate	Pair Corr
0.41	SSAGX	Virtus Seix Government	Pair Corr
0.33	HGORX	Hartford Growth	Pair Corr

Related Correlations Analysis

	PRVBX	DLTNX	ACITX	RULFX	ABNTX	MBSAX	MSTBX	MDMTX
PRVBX		0.65	0.62	0.39	0.83	0.47	0.69	0.46	PRVBX
DLTNX	0.65		0.89	-0.07	0.83	0.63	0.53	0.85	DLTNX
ACITX	0.62	0.89		-0.32	0.87	0.38	0.28	0.65	ACITX
RULFX	0.39	-0.07	-0.32		0.12	0.43	0.7	0.09	RULFX
ABNTX	0.83	0.83	0.87	0.12		0.53	0.61	0.62	ABNTX
MBSAX	0.47	0.63	0.38	0.43	0.53		0.76	0.8	MBSAX
MSTBX	0.69	0.53	0.28	0.7	0.61	0.76		0.53	MSTBX
MDMTX	0.46	0.85	0.65	0.09	0.62	0.8	0.53		MDMTX
	PRVBX	DLTNX	ACITX	RULFX	ABNTX	MBSAX	MSTBX	MDMTX

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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

ACITX	+ 0.89	DLTNX
ABNTX	+ 0.87	ACITX
MDMTX	+ 0.85	DLTNX
ABNTX	+ 0.83	PRVBX
ABNTX	+ 0.83	DLTNX
MDMTX	+ 0.8	MBSAX

High negative correlations

RULFX	- 0.32	ACITX
RULFX	- 0.07	DLTNX

Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Pacific/asia 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 Pacific/asia'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
PRVBX	0.10	(0.01)	(0.80)	(0.04)	0.05	(0.13)	0.25	(0.19)	0.58
DLTNX	0.21	(0.01)	(0.32)	(0.05)	0.24	(0.27)	0.58	(0.46)	1.50
ACITX	0.19	(0.02)	0.00	(0.18)	0.00	0.00	0.38	(0.48)	1.15
RULFX	0.05	0.01	(0.73)	4.06	0.00	(0.17)	0.10	(0.10)	0.50
ABNTX	0.13	(0.01)	(0.45)	(0.16)	0.15	(0.17)	0.30	(0.30)	0.79
MBSAX	0.20	0.01	(0.25)	1.06	0.21	(0.22)	0.52	(0.37)	1.55
MSTBX	0.10	0.00	(0.55)	0.00	0.03	(0.15)	0.21	(0.21)	0.62
MDMTX	0.19	0.00	(0.20)	0.06	0.25	(0.26)	0.48	(0.56)	1.72

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