Columbia Government Correlations

AUGAX Fund

USD 17.45 0.02 0.11%

The current 90-days correlation between Columbia Government and Columbia Ultra Short is 0.23 (i.e., Modest diversification). The correlation of Columbia Government 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 Government Correlation With Market

Significant diversification

The correlation between Columbia Government Mortgage and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Government Mortgage and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Columbia Government Mortgage. 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

0.86	LHIAX	Columbia High Yield	Pair Corr
0.74	IMNTX	Columbia Minnesota Tax	Pair Corr
0.7	IMRFX	Columbia Global Oppo	Pair Corr
0.99	LIBAX	Columbia Total Return	Pair Corr
0.9	LIIAX	Columbia Porate Income	Pair Corr
0.78	INTAX	Columbia Strategic	Pair Corr
0.66	LITAX	Columbia Amt Free	Pair Corr
0.74	LITCX	Columbia Amt Free	Pair Corr
0.78	NACMX	Columbia Amt Free	Pair Corr
0.77	PISDX	Columbia Pyrford Int	Pair Corr
0.76	PISOX	Columbia Pyrford Int	Pair Corr
0.77	PISJX	Columbia Pyrford Int	Pair Corr
0.76	PISQX	Columbia Pyrford Int	Pair Corr
0.79	NSMMX	Columbia Short Term	Pair Corr
0.73	RBBAX	Columbia Income Builder	Pair Corr
0.73	RBBCX	Columbia Income Builder	Pair Corr
0.79	ABDAX	Columbia Capital All	Pair Corr
0.84	LMIAX	Columbia Amt Free	Pair Corr

Moving against Columbia Mutual Fund

0.56	CUSOX	Columbia Ultra Short	Pair Corr
0.31	CGOAX	Columbia Small Cap	Pair Corr
0.62	RFRAX	Columbia Floating Rate	Pair Corr
0.46	NFEAX	Columbia Large Cap	Pair Corr

Related Correlations Analysis

	CUSOX	ILGCX	ILGGX	SSCVX	ILVBX	ILVFX	LHIAX	IMNTX	IMRFX	CFIGX
CUSOX		0.04	0.01	-0.28	-0.41	-0.4	-0.32	-0.07	-0.21	0.07	CUSOX
ILGCX	0.04		0.92	0.73	0.83	0.83	0.44	0.42	0.57	0.82	ILGCX
ILGGX	0.01	0.92		0.81	0.81	0.82	0.4	0.36	0.5	0.75	ILGGX
SSCVX	-0.28	0.73	0.81		0.89	0.89	0.42	0.24	0.36	0.59	SSCVX
ILVBX	-0.41	0.83	0.81	0.89		1.0	0.58	0.39	0.49	0.65	ILVBX
ILVFX	-0.4	0.83	0.82	0.89	1.0		0.58	0.39	0.49	0.66	ILVFX
LHIAX	-0.32	0.44	0.4	0.42	0.58	0.58		0.94	0.74	0.64	LHIAX
IMNTX	-0.07	0.42	0.36	0.24	0.39	0.39	0.94		0.74	0.69	IMNTX
IMRFX	-0.21	0.57	0.5	0.36	0.49	0.49	0.74	0.74		0.74	IMRFX
CFIGX	0.07	0.82	0.75	0.59	0.65	0.66	0.64	0.69	0.74		CFIGX
	CUSOX	ILGCX	ILGGX	SSCVX	ILVBX	ILVFX	LHIAX	IMNTX	IMRFX	CFIGX

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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

ILVFX	+ 1.0	ILVBX
IMNTX	+ 0.94	LHIAX
ILGGX	+ 0.92	ILGCX
ILVBX	+ 0.89	SSCVX
ILVFX	+ 0.89	SSCVX
ILVBX	+ 0.83	ILGCX

High negative correlations

ILVBX	- 0.41	CUSOX
ILVFX	- 0.4	CUSOX
LHIAX	- 0.32	CUSOX
SSCVX	- 0.28	CUSOX
IMRFX	- 0.21	CUSOX
IMNTX	- 0.07	CUSOX

Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Government 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 Government'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CUSOX	0.03	0.00	0.36	0.11	(0.11)	0.54
ILGCX	0.95	(0.02)	(0.04)	1.49	(2.11)	12.57
ILGGX	0.98	(0.05)	(0.04)	1.46	(2.10)	12.36
SSCVX	1.02	(0.24)	(0.15)	1.74	(1.69)	22.50
ILVBX	1.14	(0.48)	(0.72)	1.09	(0.87)	35.66
ILVFX	1.12	(0.47)	(0.72)	1.09	(0.93)	35.16
LHIAX	0.25	(0.06)	(18.06)	0.43	(0.64)	2.27
IMNTX	0.22	(0.04)	(2.94)	0.40	(0.55)	1.99
IMRFX	0.40	(0.05)	(0.35)	0.67	(0.79)	3.69
CFIGX	0.32	(0.03)	(0.33)	0.70	(0.78)	2.64

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