Columbia High Correlations

Mutual Funds . USA . 
Fund . Columbia High Yield
CHYYX Fund  USD 10.94  0.01  0.09%   
The current 90-days correlation between Columbia High Yield and Old Westbury Small is 0.59 (i.e., Very weak diversification). The correlation of Columbia High 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 High Correlation With Market

Very weak diversification

The correlation between Columbia High Yield and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia High Yield 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 High Yield. 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 manufacturing.

Moving together with Columbia Mutual Fund

  0.8SRINX Columbia Porate IncomePairCorr
  0.85CUSBX Columbia Ultra ShortPairCorr
  0.72CUTRX Columbia Treasury IndexPairCorr
  0.72CUTYX Columbia Treasury IndexPairCorr
  0.76CDDYX Columbia Dividend IncomePairCorr
  0.76CDDRX Columbia Dividend IncomePairCorr
  0.63CDEYX Columbia DiversifiedPairCorr
  0.76CDIRX Columbia Dividend IncomePairCorr
  0.84CDOZX Columbia DividendPairCorr
  0.84CDOYX Columbia DividendPairCorr
  0.62CDVZX Columbia DiversifiedPairCorr
  0.85CEBYX Columbia Emerging MarketsPairCorr
  0.85CEBRX Columbia Emerging MarketsPairCorr
  0.99CEPRX Columbia Income OppoPairCorr
  0.64CEVYX Columbia Global EquityPairCorr
  0.65CEVZX Columbia Global EquityPairCorr
  0.84RPCCX Columbia Capital AllPairCorr
  0.81CFCYX Columbia Flexible CapitalPairCorr
  0.81CFIZX Columbia Flexible CapitalPairCorr
  0.72LIBCX Columbia Total ReturnPairCorr
  0.84CFRZX Columbia Floating RatePairCorr
  0.85CFRYX Columbia Floating RatePairCorr
  0.8CFXRX Columbia Flexible CapitalPairCorr
  0.99APECX Columbia High YieldPairCorr
  0.65CGCYX Columbia Greater ChinaPairCorr

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   
PMDDX
+ 0.94
ARTSX
CIPNX
+ 0.86
ARTSX
PMDDX
+ 0.86
CIPNX
CIPNX
+ 0.84
OWSMX
PMDDX
+ 0.8
OWSMX
ANTMX
+ 0.8
OWSMX
  
High negative correlations   
CCMSX
- 0.0
ANTMX
CCMSX
- 0.0
PMDDX
CCMSX
- 0.0
CIPNX
CCMSX
- 0.0
ARTSX
CCMSX
- 0.0
OWSMX

Risk-Adjusted Indicators

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