Columbia Emerging Correlations

UMEMX Fund

USD 13.28 0.02 0.15%

The current 90-days correlation between Columbia Emerging Markets and Vanguard Emerging Markets is 0.95 (i.e., Almost no diversification). The correlation of Columbia Emerging 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 Emerging Correlation With Market

Weak diversification

The correlation between Columbia Emerging Markets and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Columbia Emerging Markets. 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 population.

Moving together with Columbia Mutual Fund

1.0	CEKYX	Columbia Emerging Markets	Pair Corr
1.0	CEKRX	Columbia Emerging Markets	Pair Corr
0.95	CEMHX	Columbia Emerging Markets	Pair Corr
0.61	CFCRX	Columbia Flexible Capital	Pair Corr
0.71	CFCIX	Columbia Large Cap	Pair Corr

Moving against Columbia Mutual Fund

0.32	CUTRX	Columbia Treasury Index	Pair Corr
0.31	CUTYX	Columbia Treasury Index	Pair Corr

Related Correlations Analysis

	VEMAX	VEIEX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP
VEMAX		1.0	-0.42	0.0	-0.5	0.89	0.55	0.37	0.2	-0.31	VEMAX
VEIEX	1.0		-0.42	0.0	-0.5	0.89	0.55	0.37	0.2	-0.31	VEIEX
444859BR2	-0.42	-0.42		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.5	-0.5	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	BRRAY
MSTSX	0.89	0.89	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	MSTSX
LBHIX	0.55	0.55	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	LBHIX
ABHYX	0.37	0.37	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	ABHYX
SCAXF	0.2	0.2	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	SCAXF
VIASP	-0.31	-0.31	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		VIASP
	VEMAX	VEIEX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP

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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

VEIEX	+ 1.0	VEMAX
MSTSX	+ 0.89	VEMAX
MSTSX	+ 0.89	VEIEX
LBHIX	+ 0.67	MSTSX
LBHIX	+ 0.55	VEMAX
LBHIX	+ 0.55	VEIEX

High negative correlations

VIASP	- 0.8	SCAXF
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
BRRAY	- 0.5	VEIEX
BRRAY	- 0.5	VEMAX
MSTSX	- 0.45	BRRAY

Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Emerging 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 Emerging'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
VEMAX	0.71	(0.03)	(0.12)	0.04	0.85	(0.78)	1.57	(1.68)	4.60
VEIEX	0.71	(0.03)	(0.12)	0.04	0.85	(0.78)	1.55	(1.68)	4.60
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18

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