Columbia Minnesota Correlations

Mutual Funds . USA . 
Fund . Columbia Minnesota Tax Exempt
CADOX Fund  USD 19.39  0.05  0.26%   
The current 90-days correlation between Columbia Minnesota Tax and T Rowe Price is 0.08 (i.e., Significant diversification). The correlation of Columbia Minnesota 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 Minnesota Correlation With Market

Average diversification

The correlation between Columbia Minnesota Tax Exempt and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Minnesota Tax Exempt 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 Minnesota Tax Exempt. 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 persons.

Moving together with Columbia Mutual Fund

  0.85SRINX Columbia Porate IncomePairCorr
  0.77CUTRX Columbia Treasury IndexPairCorr
  0.68CDAZX Multi Manager DirectPairCorr
  0.71CUURX Columbia Small CapPairCorr
  0.76CUTYX Columbia Treasury IndexPairCorr
  0.77AMTCX Columbia Capital AllPairCorr
  0.87CEBYX Columbia Emerging MarketsPairCorr
  0.87CEBRX Columbia Emerging MarketsPairCorr
  0.64CECYX Columbia Large CapPairCorr
  0.67CEPRX Columbia Income OppoPairCorr
  0.69CEVYX Columbia Global EquityPairCorr
  0.69CEVZX Columbia Global EquityPairCorr
  0.83RPCCX Columbia Capital AllPairCorr
  0.61GEGTX Columbia Large CapPairCorr
  0.77CFCYX Columbia Flexible CapitalPairCorr
  0.77CFIZX Columbia Flexible CapitalPairCorr
  0.78LIBCX Columbia Total ReturnPairCorr
  0.77CFXRX Columbia Flexible CapitalPairCorr
  0.68APECX Columbia High YieldPairCorr
  0.67CGEZX 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 Minnesota 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 Minnesota'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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