Columbia Select Correlations

Mutual Funds . USA . 
Fund . Columbia Select Large
UMLAX Fund   7.03  0.03  0.43%   
The current 90-days correlation between Columbia Select Large and Aew Real Estate is -0.09 (i.e., Good diversification). The correlation of Columbia Select 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 Select Correlation With Market

Very poor diversification

The correlation between Columbia Select Large and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Select Large 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 Select Large. 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

  0.75CUSOX Columbia Ultra ShortPairCorr
  0.92SSCVX Columbia Select SmallerPairCorr
  0.81CEVAX Columbia Global ValuePairCorr
  0.96GEGDX Columbia Large CapPairCorr
  0.75CFIAX Columbia Flexible CapitalPairCorr
  0.93SCICX Columbia SeligmanPairCorr
  0.87INDZX Columbia DiversifiedPairCorr
  0.87INUTX Columbia DividendPairCorr
  0.82CGOAX Columbia Small CapPairCorr
  0.79PISJX Columbia Pyrford IntPairCorr
  0.95AQEAX Columbia DisciplinedPairCorr
  0.92SVLCX Columbia Select LargePairCorr
  0.81NSGAX Columbia Select LargePairCorr
  0.7NSMDX Columbia Short DurationPairCorr
  0.75NSTRX Columbia Short TermPairCorr
  0.78NBICX Columbia Capital AllPairCorr
  0.78NBIAX Columbia Capital AllPairCorr
  0.87NTIAX Columbia Mid CapPairCorr
  0.78RBGCX Columbia Capital AllPairCorr
  0.67ABDAX Columbia Capital AllPairCorr
  0.62LMIAX Columbia Amt FreePairCorr
  0.9ISGDX Columbia Integrated SmallPairCorr
  0.96RDLAX Columbia DisciplinedPairCorr
  0.92SHTCX Columbia Seligman GlobalPairCorr
  0.94NEIAX Columbia Large CapPairCorr
  0.63LNYAX Columbia Amt FreePairCorr
  0.65CLMAX Columbia MortgagePairCorr
  0.72NFEDX Columbia Large CapPairCorr
  0.79NFEAX Columbia Large CapPairCorr
  0.87CMUAX Columbia Mid CapPairCorr

Moving against Columbia Mutual Fund

  0.92ILVBX Columbia Integrated LargePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Select 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 Select'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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