Columbia Convertible Correlations

COCRX Fund

USD 22.43 0.32 1.45%

The current 90-days correlation between Columbia Convertible and Columbia Porate Income is 0.29 (i.e., Modest diversification). The correlation of Columbia Convertible 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 Convertible Correlation With Market

Modest diversification

The correlation between Columbia Vertible Securities and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Vertible Securities 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 Vertible Securities. 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

0.73	CUSBX	Columbia Ultra Short	Pair Corr
0.65	CDAZX	Multi Manager Direct	Pair Corr
0.89	CUURX	Columbia Small Cap	Pair Corr
0.84	GEGTX	Columbia Large Cap	Pair Corr
0.89	CLM	Cornerstone Strategic	Pair Corr
0.61	CFIZX	Columbia Flexible Capital	Pair Corr
0.84	CFRZX	Columbia Floating Rate	Pair Corr
0.84	CFRYX	Columbia Floating Rate	Pair Corr
0.61	CFXRX	Columbia Flexible Capital	Pair Corr
0.84	CGFYX	Columbia Large Cap	Pair Corr

Moving against Columbia Mutual Fund

0.58	CEKYX	Columbia Emerging Markets	Pair Corr
0.51	CEKRX	Columbia Emerging Markets	Pair Corr
0.65	CGCYX	Columbia Greater China	Pair Corr
0.59	UMEMX	Columbia Emerging Markets	Pair Corr

Related Correlations Analysis

	SRINX	CUSBX	CUTRX	CDAZX	CUURX	CUTYX	CDDYX	CDDRX	CDEYX	CDIRX
SRINX		-0.33	0.92	0.32	0.24	0.92	0.55	0.55	0.53	0.56	SRINX
CUSBX	-0.33		-0.61	0.38	0.54	-0.6	-0.14	-0.15	-0.12	-0.15	CUSBX
CUTRX	0.92	-0.61		0.12	-0.04	1.0	0.52	0.52	0.51	0.53	CUTRX
CDAZX	0.32	0.38	0.12		0.84	0.13	0.75	0.75	0.76	0.75	CDAZX
CUURX	0.24	0.54	-0.04	0.84		-0.03	0.6	0.6	0.58	0.59	CUURX
CUTYX	0.92	-0.6	1.0	0.13	-0.03		0.53	0.53	0.51	0.54	CUTYX
CDDYX	0.55	-0.14	0.52	0.75	0.6	0.53		1.0	0.99	1.0	CDDYX
CDDRX	0.55	-0.15	0.52	0.75	0.6	0.53	1.0		0.99	1.0	CDDRX
CDEYX	0.53	-0.12	0.51	0.76	0.58	0.51	0.99	0.99		0.99	CDEYX
CDIRX	0.56	-0.15	0.53	0.75	0.59	0.54	1.0	1.0	0.99		CDIRX
	SRINX	CUSBX	CUTRX	CDAZX	CUURX	CUTYX	CDDYX	CDDRX	CDEYX	CDIRX

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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

CUTYX	+ 1.0	CUTRX
CDDRX	+ 1.0	CDDYX
CDIRX	+ 1.0	CDDYX
CDIRX	+ 1.0	CDDRX
CDEYX	+ 0.99	CDDYX
CDEYX	+ 0.99	CDDRX

High negative correlations

CUTRX	- 0.61	CUSBX
CUTYX	- 0.6	CUSBX
CUSBX	- 0.33	SRINX
CDIRX	- 0.15	CUSBX
CDDRX	- 0.15	CUSBX
CDDYX	- 0.14	CUSBX

Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Convertible 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 Convertible'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
SRINX	0.24	(0.06)	0.00	(1.21)	0.00	0.00	0.44	(0.65)	1.65
CUSBX	0.02	0.00	0.00	(0.55)	0.00	0.00	0.11	0.00	0.54
CUTRX	0.23	(0.07)	0.00	(3.41)	0.00	0.00	0.41	(0.61)	1.43
CDAZX	0.74	(0.03)	0.00	(0.03)	0.00	0.00	1.41	(1.58)	12.80
CUURX	0.85	0.05	0.03	0.13	1.05	(0.96)	2.02	(1.40)	9.29
CUTYX	0.23	(0.07)	0.00	(1.81)	0.00	0.00	0.40	(0.61)	1.42
CDDYX	0.53	(0.08)	0.00	(0.44)	0.00	0.00	0.91	(0.85)	6.96
CDDRX	0.52	(0.08)	0.00	(0.45)	0.00	0.00	0.91	(0.86)	6.95
CDEYX	0.62	(0.12)	0.00	(0.63)	0.00	0.00	1.00	(1.02)	10.34
CDIRX	0.52	(0.09)	0.00	(0.45)	0.00	0.00	0.91	(0.87)	6.91

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