Columbia Small Correlations

NMSAX Fund

USD 23.37 0.09 0.38%

The current 90-days correlation between Columbia Small Cap and Aqr Long Short Equity is 0.16 (i.e., Average 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

Modest diversification

The correlation between Columbia Small Cap and DJI is 0.27 (i.e., Modest 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 Correlation Analysis 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 nation.

Moving together with Columbia Mutual Fund

0.79	VSMAX	Vanguard Small Cap	Pair Corr
0.79	VSCIX	Vanguard Small Cap	Pair Corr
0.79	VSCPX	Vanguard Small Cap	Pair Corr
0.79	NAESX	Vanguard Small Cap	Pair Corr
0.9	FSSNX	Fidelity Small Cap	Pair Corr
0.87	DFSTX	Us Small Cap	Pair Corr
0.99	PASVX	T Rowe Price	Pair Corr
0.98	PRVIX	T Rowe Price	Pair Corr
0.98	TRZVX	T Rowe Price	Pair Corr
0.98	PRSVX	T Rowe Price	Pair Corr
0.72	RSNYX	Victory Global Natural	Pair Corr
0.76	RSNRX	Victory Global Natural	Pair Corr
0.72	RGNCX	Victory Global Natural	Pair Corr
0.77	RMQAX	Monthly Rebalance	Pair Corr
0.77	RMQHX	Monthly Rebalance	Pair Corr

Moving against Columbia Mutual Fund

0.75	QMNNX	Aqr Equity Market	Pair Corr
0.62	0P0001GXZ7	Oaktree Iii	Pair Corr
0.62	CFRCX	Catalyst/princeton	Pair Corr
0.48	CFOAX	Calvert Floating Rate	Pair Corr
0.45	NFFCX	Nuveen Symphony Floating	Pair Corr
0.33	ATMCX	Pimco Unconstrained Tax	Pair Corr

Related Correlations Analysis

	QLERX	AOUNX	FTFZX	FUEMX	TSDCX	BXDCX	CDICX
QLERX		0.88	0.54	0.88	0.87	0.9	0.8	QLERX
AOUNX	0.88		0.57	0.92	0.96	0.94	0.91	AOUNX
FTFZX	0.54	0.57		0.7	0.56	0.66	0.72	FTFZX
FUEMX	0.88	0.92	0.7		0.93	0.94	0.87	FUEMX
TSDCX	0.87	0.96	0.56	0.93		0.93	0.91	TSDCX
BXDCX	0.9	0.94	0.66	0.94	0.93		0.91	BXDCX
CDICX	0.8	0.91	0.72	0.87	0.91	0.91		CDICX
	QLERX	AOUNX	FTFZX	FUEMX	TSDCX	BXDCX	CDICX

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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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QLERX	0.41	0.17	0.17	(2.39)	(0.52)	0.80	(0.61)	2.85
AOUNX	0.05	0.01	0.00	(1.26)	0.00	0.10	(0.10)	0.62
FTFZX	0.09	0.01	(0.41)	(0.70)	(0.16)	0.29	(0.10)	0.78
FUEMX	0.05	0.01	0.00	(2.01)	0.00	0.30	(0.10)	0.60
TSDCX	0.05	0.01	0.00	1.33	0.00	0.11	(0.11)	0.66
BXDCX	0.08	0.01	(0.64)	(0.56)	(0.17)	0.33	(0.11)	0.54
CDICX	0.08	0.00	(0.73)	0.19	(0.13)	0.26	(0.13)	0.65

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