Columbia Select Correlations

Mutual Funds . USA . 
Fund . Columbia Select Large
CGTRX Fund  USD 9.54  0.22  2.36%   
The current 90-days correlation between Columbia Select Large and Energy Basic Materials is 0.52 (i.e., Very weak 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

Poor diversification

The correlation between Columbia Select Large and DJI is 0.62 (i.e., 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 Trending Equities 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 metropolitan statistical area.

Moving together with Columbia Mutual Fund

  0.68CDAZX Multi-manager DirectionalPairCorr
  0.95CUURX Columbia Small CapPairCorr
  0.91CVERX Columbia Mid CapPairCorr
  0.66CVQZX Columbia DisciplinedPairCorr
  0.96SSVIX Columbia Select SmallerPairCorr
  0.98GEGTX Columbia Large CapPairCorr
  0.84CLM Cornerstone StrategicPairCorr
  0.99SCIRX Columbia SeligmanPairCorr
  0.99SCMIX Columbia SeligmanPairCorr
  0.74CGEZX Columbia Select GlobalPairCorr
  0.98CGFYX Columbia Large CapPairCorr
  0.97CXXRX Columbia Small CapPairCorr
  0.99CGQYX Columbia DisciplinedPairCorr
  0.98CGTYX Columbia Seligman GlobalPairCorr
  0.98CGTUX Columbia Global TechPairCorr
  0.98CGWRX Columbia Large CapPairCorr
  0.91NAMAX Columbia Mid CapPairCorr

Moving against Columbia Mutual Fund

  0.73LIBCX Columbia Total ReturnPairCorr
  0.71CGCYX Columbia Greater ChinaPairCorr
  0.65CUSBX Columbia Ultra ShortPairCorr
  0.61SRINX Columbia Porate IncomePairCorr
  0.59CEBYX Columbia Emerging MarketsPairCorr
  0.37CEPRX Columbia Income OppoPairCorr
  0.75UMMGX Columbia BondPairCorr
  0.61NSMIX Columbia Short TermPairCorr
  0.47RSERX Victory Sophus EmergingPairCorr
  0.38CHHYX Columbia High YieldPairCorr
  0.38CHMYX Columbia High YieldPairCorr
  0.37SEMAX Columbia Amt FreePairCorr
  0.37SETMX Columbia Amt FreePairCorr
  0.33CHMCX Columbia High YieldPairCorr

Related Correlations Analysis

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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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