Columbia Global Correlations

Mutual Funds . USA . 
Fund . Columbia Global Technology
CGTUX Fund  USD 88.47  0.24  0.27%   
The correlation of Columbia Global 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 Global Correlation With Market

Good diversification

The correlation between Columbia Global Technology and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Global Technology 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 Global Technology. 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 employment.

Moving together with Columbia Mutual Fund

  0.75VEEA Veea Inc Symbol ChangePairCorr
  0.79VISL Vislink Technologies Earnings Call This WeekPairCorr
  0.71YAAS Youxin TechnologyPairCorr
  0.65ZENA ZenaTechPairCorr
  0.64INGM Ingram Micro HoldingPairCorr
  0.64VSTEW Vast RenewablesPairCorr
  0.62MIND Mind TechnologyPairCorr
  0.91HPE-PC Hewlett Packard EntePairCorr
  0.73VEEAW Veea Inc Symbol ChangePairCorr
  0.79NOVA Sunnova Energy InterPairCorr
  0.66NXXT NextNRG Symbol ChangePairCorr
  0.79CORZZ Core Scientific, TranchePairCorr
  0.78SLNHP Soluna Holdings PreferredPairCorr
  0.7PENG Penguin Solutions, Symbol ChangePairCorr

Moving against Columbia Mutual Fund

  0.6EMKR EMCOREPairCorr
  0.38HCP HashicorpPairCorr
  0.73MTTR MatterportPairCorr
  0.68NTCL NETCLASS TECHNOLOGY INCPairCorr
  0.63INFN InfineraPairCorr
  0.51HPAIW Helport AI LimitedPairCorr
  0.44LGTY Logility Supply Chain Symbol ChangePairCorr

Related Correlations Analysis

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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   
CTCAX
+ 1.0
CTHRX
CMTFX
+ 1.0
CTHRX
CMTFX
+ 1.0
CTCAX
CTHCX
+ 0.93
CTHRX
CTHCX
+ 0.93
CTCAX
CMTFX
+ 0.93
CTHCX
  
High negative correlations   
CMTFX
- 0.0
CTYRX
CTHCX
- 0.0
CTYRX
CTCAX
- 0.0
CTYRX
CTHRX
- 0.0
CTYRX

Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Global 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 Global'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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