Columbia Tax-exempt Correlations
| CADMX Fund | USD 11.78 0.03 0.26% |
The current 90-days correlation between Columbia Tax Exempt and Rmb Mendon Financial is 0.28 (i.e., Modest diversification). The correlation of Columbia Tax-exempt 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 Tax-exempt Correlation With Market
Average diversification
The correlation between Columbia Tax Exempt Fund and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Tax Exempt Fund and DJI in the same portfolio, assuming nothing else is changed.
Columbia |
Moving together with Columbia Mutual Fund
| 0.75 | SRINX | Columbia Porate Income | PairCorr |
| 0.61 | CUTRX | Columbia Treasury Index | PairCorr |
| 0.62 | CUTYX | Columbia Treasury Index | PairCorr |
| 0.64 | CDOZX | Columbia Dividend | PairCorr |
| 0.64 | CDOYX | Columbia Dividend | PairCorr |
| 0.71 | CEBYX | Columbia Emerging Markets | PairCorr |
| 0.71 | CEBRX | Columbia Emerging Markets | PairCorr |
| 0.74 | CEPRX | Columbia Income Oppo | PairCorr |
| 0.82 | RPCCX | Columbia Capital All | PairCorr |
| 0.64 | CFCYX | Columbia Flexible Capital | PairCorr |
| 0.64 | CFIZX | Columbia Flexible Capital | PairCorr |
| 0.65 | LIBCX | Columbia Total Return | PairCorr |
| 0.63 | CFXRX | Columbia Flexible Capital | PairCorr |
| 0.76 | APECX | Columbia High Yield | PairCorr |
Related Correlations Analysis
| 0.81 | 0.9 | 0.91 | 0.23 | 0.51 | 0.54 | RMBLX | ||
| 0.81 | 0.74 | 0.85 | 0.69 | 0.29 | 0.85 | SBFAX | ||
| 0.9 | 0.74 | 0.8 | 0.25 | 0.71 | 0.55 | FIDAX | ||
| 0.91 | 0.85 | 0.8 | 0.29 | 0.29 | 0.55 | BTO | ||
| 0.23 | 0.69 | 0.25 | 0.29 | 0.13 | 0.9 | GCFSX | ||
| 0.51 | 0.29 | 0.71 | 0.29 | 0.13 | 0.35 | IAAEX | ||
| 0.54 | 0.85 | 0.55 | 0.55 | 0.9 | 0.35 | PGFMX | ||
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Risk-Adjusted Indicators
There is a big difference between Columbia Mutual Fund performing well and Columbia Tax-exempt 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 Tax-exempt'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| RMBLX | 1.12 | (0.13) | 0.00 | (0.20) | 0.00 | 2.20 | 6.78 | |||
| SBFAX | 0.76 | 0.01 | 0.00 | (0.06) | 0.00 | 1.65 | 5.22 | |||
| FIDAX | 0.99 | (0.11) | 0.00 | (0.18) | 0.00 | 1.82 | 7.22 | |||
| BTO | 1.05 | (0.06) | 0.00 | (0.13) | 0.00 | 2.30 | 6.87 | |||
| GCFSX | 0.75 | 0.10 | 0.10 | 0.06 | 1.04 | 1.80 | 4.68 | |||
| IAAEX | 0.80 | (0.12) | 0.00 | (0.32) | 0.00 | 1.41 | 9.17 | |||
| PGFMX | 0.39 | 0.01 | 0.00 | (0.05) | 0.00 | 0.85 | 2.21 |