Columbia Small Correlations

CMSCX Fund

USD 30.47 0.20 0.65%

The current 90-days correlation between Columbia Small Cap and Gamco Global Gold is 0.22 (i.e., Modest diversification). The correlation of Columbia Small 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 Small Correlation With Market

Very poor diversification

The correlation between Columbia Small Cap and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Small Cap 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 Small Cap. 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 main economic indicators.

Moving together with Columbia Mutual Fund

0.86	CUSHX	Columbia Ultra Short	Pair Corr
0.75	CUSBX	Columbia Ultra Short	Pair Corr
0.83	CUURX	Columbia Small Cap	Pair Corr
0.94	CDDYX	Columbia Dividend Income	Pair Corr
0.85	CVERX	Columbia Mid Cap	Pair Corr
0.72	CVVRX	Columbia Small Cap	Pair Corr
0.97	CECYX	Columbia Large Cap	Pair Corr
0.81	CEVYX	Columbia Global Equity	Pair Corr
0.92	CEVZX	Columbia Global Equity	Pair Corr
0.81	GEGTX	Columbia Large Cap	Pair Corr
0.93	CLM	Cornerstone Strategic	Pair Corr
0.8	SCIOX	Columbia Seligman	Pair Corr
0.98	SCIRX	Columbia Seligman	Pair Corr
0.98	SCMIX	Columbia Seligman	Pair Corr
0.78	CXXRX	Columbia Small Cap	Pair Corr
0.95	CGWRX	Columbia Large Cap	Pair Corr
0.87	UMLGX	Columbia Select Large	Pair Corr
0.97	NSEPX	Columbia Select Large	Pair Corr
0.65	CHYYX	Columbia High Yield	Pair Corr
0.86	CZMGX	Multi Manager Growth	Pair Corr
0.71	NBGPX	Columbia Capital All	Pair Corr

Moving against Columbia Mutual Fund

0.75	CUTRX	Columbia Treasury Index	Pair Corr
0.75	CUTYX	Columbia Treasury Index	Pair Corr
0.57	SRINX	Columbia Porate Income	Pair Corr
0.55	CUVRX	Columbia Government	Pair Corr
0.69	UMMGX	Columbia Bond	Pair Corr
0.62	CIFRX	Columbia Porate Income	Pair Corr
0.6	CGOLX	Columbia Global Dividend	Pair Corr

Related Correlations Analysis

	XGGNX	EPGFX	FRGOX	INIVX	MXKJX	GCEBX	VGSBX
XGGNX		0.83	0.86	0.81	0.0	0.31	-0.03	XGGNX
EPGFX	0.83		0.99	0.99	-0.03	0.2	-0.11	EPGFX
FRGOX	0.86	0.99		0.99	-0.08	0.25	-0.08	FRGOX
INIVX	0.81	0.99	0.99		-0.02	0.16	-0.14	INIVX
MXKJX	0.0	-0.03	-0.08	-0.02		-0.72	-0.62	MXKJX
GCEBX	0.31	0.2	0.25	0.16	-0.72		0.89	GCEBX
VGSBX	-0.03	-0.11	-0.08	-0.14	-0.62	0.89		VGSBX
	XGGNX	EPGFX	FRGOX	INIVX	MXKJX	GCEBX	VGSBX

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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

FRGOX	+ 0.99	EPGFX
INIVX	+ 0.99	EPGFX
INIVX	+ 0.99	FRGOX
VGSBX	+ 0.89	GCEBX
FRGOX	+ 0.86	XGGNX
EPGFX	+ 0.83	XGGNX

High negative correlations

GCEBX	- 0.72	MXKJX
VGSBX	- 0.62	MXKJX
VGSBX	- 0.14	INIVX
VGSBX	- 0.11	EPGFX
VGSBX	- 0.08	FRGOX
MXKJX	- 0.08	FRGOX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
XGGNX	0.55	(0.03)	0.00	(0.12)	0.00	0.00	1.20	(1.20)	3.86
EPGFX	1.43	(0.02)	(0.05)	0.05	1.96	(1.38)	2.54	(3.10)	10.62
FRGOX	1.48	(0.05)	(0.06)	(0.02)	1.84	(1.53)	3.13	(3.01)	9.03
INIVX	1.38	(0.01)	(0.05)	0.07	1.77	(1.45)	2.66	(2.74)	9.92
MXKJX	0.59	0.11	0.00	2.57	0.51	(0.73)	1.26	(1.23)	3.51
GCEBX	0.75	(0.14)	0.00	(2.49)	0.00	0.00	1.36	(1.75)	8.30
VGSBX	0.29	(0.03)	0.00	(0.21)	0.00	0.00	0.65	(0.64)	1.71

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