Columbia Global Correlations

Mutual Funds . USA . 
Fund . Columbia Global Equity
IEVAX Fund  USD 13.20  0.04  0.30%   
The current 90-days correlation between Columbia Global Equity and Rbc Ultra Short Fixed is 0.05 (i.e., Significant 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

Good diversification

The correlation between Columbia Global Equity and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Global Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Columbia Global Equity. 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

  0.73BEGRX Franklin Mutual BeaconPairCorr
  0.77TRLCX Tiaa-cref Large-capPairCorr
  0.98PABVX Midcap ValuePairCorr
  0.8NAESX Vanguard Small CapPairCorr
  0.8HFCGX Hennessy Nerstone GrowthPairCorr
  0.93VFMFX Vanguard MultifactorPairCorr
  0.76WCEYX Ivy E EquityPairCorr
  0.84WCPSX Mobile TelecommunicatioPairCorr
  0.76TEGYX Mid Cap GrowthPairCorr
  0.93SSMOX Steward Small MidPairCorr
  0.69GAB Gabelli Equity TrustPairCorr
  0.74THLCX Thrivent Large CapPairCorr
  0.81STENX Northern LightsPairCorr
  0.89SDGTX Deutsche Capital GrowthPairCorr
  0.63ACIPX American Century MidPairCorr
  0.82PRDSX T Rowe PricePairCorr
  0.77AMEIX Equity GrowthPairCorr
  0.68WWNPX Kinetics Paradigm Steady GrowthPairCorr

Moving against Columbia Mutual Fund

  0.44GPBFX Gmo E PlusPairCorr
  0.32GAAGX Gmo Alternative AlloPairCorr

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   
BBINX
+ 0.87
MDMTX
BBINX
+ 0.65
MFIRX
CCD
+ 0.57
MFIRX
CCD
+ 0.5
TPYYX
BBINX
+ 0.45
TPYYX
CCD
+ 0.43
RUSIX
  
High negative correlations   
MDMTX
- 0.54
RUSIX
BBINX
- 0.2
RUSIX
TPYYX
- 0.16
RUSIX
CCD
- 0.05
MDMTX

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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