Columbia Small Correlations

CXXRX Fund

USD 24.71 0.26 1.06%

The current 90-days correlation between Columbia Small Cap and Global Diversified Income is 0.27 (i.e., Modest diversification). The correlation of Columbia Small 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 Small Correlation With Market

Weak diversification

The correlation between Columbia Small Cap 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 Small 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 Small 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 metropolitan statistical area.

Moving together with Columbia Mutual Fund

0.72	SRINX	Columbia Porate Income	Pair Corr
0.69	CUTRX	Columbia Treasury Index	Pair Corr
0.72	CUURX	Columbia Small Cap	Pair Corr
0.7	CUTYX	Columbia Treasury Index	Pair Corr
0.95	CDDYX	Columbia Dividend Income	Pair Corr
0.95	CDDRX	Columbia Dividend Income	Pair Corr
0.94	CDEYX	Columbia Diversified	Pair Corr
0.94	CDIRX	Columbia Dividend Income	Pair Corr
0.83	AMTCX	Columbia Capital All	Pair Corr
0.95	CDOZX	Columbia Dividend	Pair Corr
0.95	CDOYX	Columbia Dividend	Pair Corr
0.96	CVERX	Columbia Mid Cap	Pair Corr
0.96	CDVZX	Columbia Diversified	Pair Corr
0.95	CVQZX	Columbia Disciplined	Pair Corr
0.98	CECYX	Columbia Large Cap	Pair Corr
0.94	SSVIX	Columbia Select Smaller	Pair Corr
0.91	CEVYX	Columbia Global Equity	Pair Corr
0.91	CEVZX	Columbia Global Equity	Pair Corr
0.69	RPCCX	Columbia Capital All	Pair Corr
0.89	SCIRX	Columbia Seligman	Pair Corr
0.75	LIBCX	Columbia Total Return	Pair Corr
0.85	SCMIX	Columbia Seligman	Pair Corr
0.89	CGEZX	Columbia Select Global	Pair Corr

Moving against Columbia Mutual Fund

0.59	CUSBX	Columbia Ultra Short	Pair Corr
0.53	CFRZX	Columbia Floating Rate	Pair Corr
0.54	CFRYX	Columbia Floating Rate	Pair Corr

Related Correlations Analysis

	PGBAX	JPDVX	QDARX	MBLAX	RTOUX	XACVX	WDIAX
PGBAX		0.76	-0.32	0.79	0.64	0.83	0.45	PGBAX
JPDVX	0.76		-0.39	0.84	0.83	0.71	0.69	JPDVX
QDARX	-0.32	-0.39		-0.26	-0.42	-0.51	-0.01	QDARX
MBLAX	0.79	0.84	-0.26		0.91	0.68	0.87	MBLAX
RTOUX	0.64	0.83	-0.42	0.91		0.66	0.8	RTOUX
XACVX	0.83	0.71	-0.51	0.68	0.66		0.36	XACVX
WDIAX	0.45	0.69	-0.01	0.87	0.8	0.36		WDIAX
	PGBAX	JPDVX	QDARX	MBLAX	RTOUX	XACVX	WDIAX

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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

RTOUX	+ 0.91	MBLAX
WDIAX	+ 0.87	MBLAX
MBLAX	+ 0.84	JPDVX
XACVX	+ 0.83	PGBAX
RTOUX	+ 0.83	JPDVX
WDIAX	+ 0.8	RTOUX

High negative correlations

XACVX	- 0.51	QDARX
RTOUX	- 0.42	QDARX
QDARX	- 0.39	JPDVX
QDARX	- 0.32	PGBAX
MBLAX	- 0.26	QDARX
WDIAX	- 0.01	QDARX

Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Small 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 Small'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
PGBAX	0.15	(0.01)	(0.42)	(0.04)	0.14	(0.20)	0.34	(0.34)	1.01
JPDVX	0.45	(0.02)	(0.12)	(0.09)	0.71	(0.44)	0.94	(1.19)	3.40
QDARX	0.10	(0.01)	(0.50)	1.18	0.14	(0.15)	0.25	(0.25)	0.74
MBLAX	0.23	(0.01)	(0.25)	0.01	0.29	(0.28)	0.46	(0.31)	1.79
RTOUX	0.79	(0.01)	(0.05)	0.06	1.04	(0.86)	1.65	(1.35)	8.93
XACVX	0.70	0.07	(0.01)	2.79	1.01	(0.73)	1.43	(1.48)	5.43
WDIAX	0.58	(0.03)	(0.12)	(0.01)	0.70	(0.69)	1.10	(0.96)	5.40

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