Columbia Select Correlations

CSSZX Fund

USD 21.51 0.05 0.23%

The current 90-days correlation between Columbia Select Smaller and Aberdeen Small Cap is 0.08 (i.e., Significant diversification). The correlation of Columbia Select 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 Select Correlation With Market

Very weak diversification

The correlation between Columbia Select Smaller Cap and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Select Smaller Cap 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 Select Smaller Cap. 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

0.65	CUSBX	Columbia Ultra Short	Pair Corr
0.91	CUURX	Columbia Small Cap	Pair Corr
0.85	CVERX	Columbia Mid Cap	Pair Corr
0.79	CVQZX	Columbia Disciplined	Pair Corr
0.73	CECYX	Columbia Large Cap	Pair Corr
0.9	SSVIX	Columbia Select Smaller	Pair Corr
0.63	CEPRX	Columbia Income Oppo	Pair Corr
0.73	GEGTX	Columbia Large Cap	Pair Corr
0.72	CFCYX	Columbia Flexible Capital	Pair Corr
0.84	SCIRX	Columbia Seligman	Pair Corr
0.78	SCMIX	Columbia Seligman	Pair Corr
0.66	APECX	Columbia High Yield	Pair Corr

Moving against Columbia Mutual Fund

0.33	CDAZX	Multi Manager Direct	Pair Corr
0.64	CFCIX	Columbia Large Cap	Pair Corr
0.51	CGEZX	Columbia Select Global	Pair Corr
0.33	CGCYX	Columbia Greater China	Pair Corr

Related Correlations Analysis

	GSXIX	HAMVX	PRLAX	TWN	MYIMX	TRFOX	NOLCX	BIGFX
GSXIX		0.52	0.17	0.61	0.58	0.48	0.08	-0.24	GSXIX
HAMVX	0.52		0.58	0.2	0.58	0.76	0.64	-0.32	HAMVX
PRLAX	0.17	0.58		-0.03	0.31	0.47	0.64	-0.5	PRLAX
TWN	0.61	0.2	-0.03		0.18	0.43	0.06	-0.04	TWN
MYIMX	0.58	0.58	0.31	0.18		0.62	0.54	0.28	MYIMX
TRFOX	0.48	0.76	0.47	0.43	0.62		0.72	0.0	TRFOX
NOLCX	0.08	0.64	0.64	0.06	0.54	0.72		0.02	NOLCX
BIGFX	-0.24	-0.32	-0.5	-0.04	0.28	0.0	0.02		BIGFX
	GSXIX	HAMVX	PRLAX	TWN	MYIMX	TRFOX	NOLCX	BIGFX

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

TRFOX	+ 0.76	HAMVX
NOLCX	+ 0.72	TRFOX
NOLCX	+ 0.64	HAMVX
NOLCX	+ 0.64	PRLAX
TRFOX	+ 0.62	MYIMX
TWN	+ 0.61	GSXIX

High negative correlations

BIGFX	- 0.5	PRLAX
BIGFX	- 0.32	HAMVX
BIGFX	- 0.24	GSXIX
BIGFX	- 0.04	TWN
TWN	- 0.03	PRLAX
BIGFX	- 0.0	TRFOX

Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Select 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 Select'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
GSXIX	0.81	0.07	(0.01)	(0.82)	1.05	(0.83)	1.53	(1.69)	4.26
HAMVX	0.74	(0.04)	0.00	28.12	0.00	0.00	1.35	(1.34)	9.75
PRLAX	1.00	(0.06)	(0.03)	0.00	1.92	(0.86)	1.83	(2.61)	8.77
TWN	1.04	0.16	0.07	(2.30)	1.06	(1.15)	2.08	(1.83)	5.01
MYIMX	0.70	(0.02)	0.00	0.25	0.00	0.00	1.43	(1.39)	6.35
TRFOX	0.56	(0.02)	0.00	(0.55)	0.00	0.00	1.07	(1.33)	5.39
NOLCX	0.68	(0.06)	0.00	(0.25)	0.00	0.00	1.28	(1.55)	8.27
BIGFX	0.66	(0.05)	0.00	(0.39)	0.00	0.00	1.04	(1.33)	3.56

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