Columbia Global Correlations

Mutual Funds . USA . 
Fund . Columbia Global Technology
CTCAX Fund  USD 88.41  1.33  1.53%   
The current 90-days correlation between Columbia Global Tech and Putnam Global Technology is 0.78 (i.e., Poor diversification). The correlation of Columbia Global 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 Global Correlation With Market

Modest diversification

The correlation between Columbia Global Technology and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Global Technology 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 Global Technology. 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

  0.63VVPR VivoPower InternationalPairCorr
  0.66CETXP Cemtrex PrefPairCorr
  0.63ZENA ZenaTechPairCorr
  0.72FUJIY FUJIFILM Holdings CorpPairCorr

Moving against Columbia Mutual Fund

  0.7EVOL Evolving SystemsPairCorr
  0.62DLPX Delphax TechnologiesPairCorr
  0.48VHAI VHAIPairCorr
  0.41VIDE Video Display Earnings Call This WeekPairCorr
  0.38SBIGW SpringBig HoldingsPairCorr
  0.67WCT Wellchange HoldingsPairCorr
  0.63GETR GetaroundPairCorr
  0.6FOXX Foxx Development Holdings Downward RallyPairCorr
  0.56FAASW DigiAsia Corp Symbol ChangePairCorr
  0.53ZPTA Zapata Computing Holdings Symbol ChangePairCorr
  0.48ZPTAW Zapata Computing HoldingsPairCorr
  0.64VEEAW Veea Inc Symbol ChangePairCorr
  0.56NOVA Sunnova Energy InterPairCorr
  0.54MINM Minim IncPairCorr
  0.54NLST NetlistPairCorr
  0.52DASTY Dassault SystemesPairCorr
  0.51NXTP Nextplay TechnologiesPairCorr

Related Correlations Analysis

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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   
SHGTX
+ 0.77
BGSAX
SHGTX
+ 0.67
PGTAX
BGSAX
+ 0.59
PGTAX
FELAX
+ 0.57
PGTAX
FELAX
+ 0.51
BGSAX
CMTFX
+ 0.47
BGSAX
  
High negative correlations   
CMTFX
- 0.04
PGTAX
SHGTX
- 0.02
CMTFX

Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Global 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 Global'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.

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