Columbia Tax-exempt Correlations

Mutual Funds . USA . 
Fund . Columbia Tax Exempt Fund
CADMX Fund  USD 11.97  0.01  0.08%   
The current 90-days correlation between Columbia Tax Exempt and Ab Bond Inflation is 0.58 (i.e., Very weak 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

Good diversification

The correlation between Columbia Tax Exempt Fund and DJI is -0.02 (i.e., Good 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.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Columbia Tax Exempt Fund. 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

  0.87SRINX Columbia Porate IncomePairCorr
  0.82CUTRX Columbia Treasury IndexPairCorr
  0.67CDAZX Multi Manager DirectPairCorr
  0.82CUTYX Columbia Treasury IndexPairCorr
  0.66CDDYX Columbia Dividend IncomePairCorr
  0.76CDDRX Columbia Dividend IncomePairCorr
  0.67CDEYX Columbia DiversifiedPairCorr
  0.76CDIRX Columbia Dividend IncomePairCorr
  0.8AMTCX Columbia Capital AllPairCorr
  0.7CDOZX Columbia DividendPairCorr
  0.7CDOYX Columbia DividendPairCorr
  0.67CDVZX Columbia DiversifiedPairCorr
  0.7CEBYX Columbia Emerging MarketsPairCorr
  0.75CEBRX Columbia Emerging MarketsPairCorr
  0.73CEVYX Columbia Global EquityPairCorr
  0.73CEVZX Columbia Global EquityPairCorr
  0.89RPCCX Columbia Capital AllPairCorr
  0.62CFIZX Columbia Flexible CapitalPairCorr
  0.93LIBCX Columbia Total ReturnPairCorr
  0.69CGEZX Columbia Select GlobalPairCorr

Related Correlations Analysis

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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.

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