Columbia India Correlations

INCO Etf

USD 61.41 0.23 0.38%

The current 90-days correlation between Columbia India Consumer and iShares MSCI India is 0.71 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Columbia India moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Columbia India Consumer moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Columbia India Correlation With Market

Average diversification

The correlation between Columbia India Consumer and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia India Consumer 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 India Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Columbia Etf

0.96	INDA	iShares MSCI India	Pair Corr
0.96	EPI	WisdomTree India Earnings	Pair Corr
0.77	INDSX	Financial Investors Trust	Pair Corr
0.94	SMIN	iShares MSCI India	Pair Corr
0.96	PIN	Invesco India ETF	Pair Corr
0.96	FLIN	Franklin FTSE India	Pair Corr
0.96	GLIN	VanEck India Growth	Pair Corr
0.93	NFTY	First Trust India	Pair Corr
0.94	INDF	Exchange Traded Concepts	Pair Corr
0.61	MCD	McDonalds Earnings Call This Week	Pair Corr
0.64	HPQ	HP Inc	Pair Corr

Moving against Columbia Etf

0.43	BTCO	Invesco Galaxy Bitcoin	Pair Corr
0.39	VCAR	Simplify Volt RoboCar Symbol Change	Pair Corr
0.31	TSLR	GraniteShares 175x Long	Pair Corr
0.64	MMM	3M Company	Pair Corr
0.5	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.41	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.33	-0.34	-0.29	0.31	0.79	0.45	0.22	0.22	-0.35	META
MSFT	0.33		-0.58	-0.22	0.43	0.18	0.63	0.25	0.01	-0.43	MSFT
UBER	-0.34	-0.58		0.63	-0.19	-0.01	-0.44	0.05	-0.05	0.77	UBER
F	-0.29	-0.22	0.63		0.05	-0.25	0.08	-0.05	0.05	0.9	F
T	0.31	0.43	-0.19	0.05		0.17	0.66	0.6	-0.15	-0.19	T
A	0.79	0.18	-0.01	-0.25	0.17		0.14	0.34	0.19	-0.22	A
CRM	0.45	0.63	-0.44	0.08	0.66	0.14		0.22	0.11	-0.14	CRM
JPM	0.22	0.25	0.05	-0.05	0.6	0.34	0.22		-0.52	-0.25	JPM
MRK	0.22	0.01	-0.05	0.05	-0.15	0.19	0.11	-0.52		0.13	MRK
XOM	-0.35	-0.43	0.77	0.9	-0.19	-0.22	-0.14	-0.25	0.13		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.9	F
A	+ 0.79	META
XOM	+ 0.77	UBER
CRM	+ 0.66	T
CRM	+ 0.63	MSFT
F	+ 0.63	UBER

High negative correlations

UBER	- 0.58	MSFT
MRK	- 0.52	JPM
CRM	- 0.44	UBER
XOM	- 0.43	MSFT
XOM	- 0.35	META
UBER	- 0.34	META

Columbia India Competition Risk-Adjusted Indicators

There is a big difference between Columbia Etf performing well and Columbia India ETF 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 India'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
META	1.36	0.31	0.18	0.75	1.19	(1.54)	3.43	(1.95)	7.43
MSFT	1.11	(0.04)	0.00	(0.73)	0.00	0.00	2.20	(2.79)	10.31
UBER	1.45	(0.17)	0.00	(0.28)	0.00	0.00	2.67	(2.53)	12.29
F	1.46	(0.15)	0.00	(0.17)	0.00	0.00	2.57	(2.90)	11.21
T	1.00	0.11	0.07	0.29	1.06	(1.12)	1.91	(1.84)	7.94
A	1.13	0.13	0.05	0.91	1.12	(1.32)	2.81	(2.16)	5.70
CRM	1.56	0.16	0.10	0.21	1.51	(1.88)	3.70	(2.95)	14.80
JPM	1.03	0.27	0.18	0.92	1.00	(1.23)	1.92	(1.42)	15.87
MRK	1.00	(0.08)	0.00	(0.29)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.86	(0.19)	0.00	(0.33)	0.00	0.00	1.71	(1.93)	6.06

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