Columbia Convertible Correlations

CSFYX Fund

USD 22.11 0.09 0.41%

The current 90-days correlation between Columbia Convertible and Thrivent Natural Resources is -0.12 (i.e., Good 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

Significant diversification

The correlation between Columbia Vertible Securities and DJI is 0.02 (i.e., Significant 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 manufacturing.

Moving together with Columbia Mutual Fund

0.93	CDAZX	Multi-manager Directional	Pair Corr
0.94	CUURX	Columbia Small Cap	Pair Corr
0.79	CDEYX	Columbia Diversified	Pair Corr
0.71	AMTCX	Columbia Capital All	Pair Corr
0.86	CVERX	Columbia Mid Cap	Pair Corr
0.66	CDVZX	Columbia Diversified	Pair Corr
0.86	CVQZX	Columbia Disciplined	Pair Corr
0.92	CECYX	Columbia Large Cap	Pair Corr
0.88	SSVIX	Columbia Select Smaller	Pair Corr
0.87	GEGTX	Columbia Large Cap	Pair Corr
0.68	CFCIX	Columbia Large Cap	Pair Corr
0.83	CLM	Cornerstone Strategic	Pair Corr
0.89	SCIRX	Columbia Seligman	Pair Corr
0.89	SCMIX	Columbia Seligman	Pair Corr
0.91	CGEZX	Columbia Select Global	Pair Corr

Moving against Columbia Mutual Fund

0.54	CUTRX	Columbia Treasury Index	Pair Corr
0.54	CUTYX	Columbia Treasury Index	Pair Corr
0.41	CUSBX	Columbia Ultra Short	Pair Corr
0.37	SRINX	Columbia Porate Income	Pair Corr
0.52	LIBCX	Columbia Total Return	Pair Corr
0.36	CEBRX	Columbia Emerging Markets	Pair Corr
0.53	CGVRX	Columbia Government	Pair Corr
0.43	CGCYX	Columbia Greater China	Pair Corr

Related Correlations Analysis

	TREIX	SMAPX	BACCX	FIKAX	XEMOX	INRSX	ENPSX	TMLAX
TREIX		-0.02	0.1	-0.17	0.24	-0.28	0.23	0.06	TREIX
SMAPX	-0.02		0.87	0.74	0.94	0.8	0.71	0.78	SMAPX
BACCX	0.1	0.87		0.69	0.83	0.7	0.76	0.65	BACCX
FIKAX	-0.17	0.74	0.69		0.63	0.84	0.89	0.88	FIKAX
XEMOX	0.24	0.94	0.83	0.63		0.73	0.69	0.75	XEMOX
INRSX	-0.28	0.8	0.7	0.84	0.73		0.63	0.74	INRSX
ENPSX	0.23	0.71	0.76	0.89	0.69	0.63		0.86	ENPSX
TMLAX	0.06	0.78	0.65	0.88	0.75	0.74	0.86		TMLAX
	TREIX	SMAPX	BACCX	FIKAX	XEMOX	INRSX	ENPSX	TMLAX

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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

XEMOX	+ 0.94	SMAPX
ENPSX	+ 0.89	FIKAX
TMLAX	+ 0.88	FIKAX
BACCX	+ 0.87	SMAPX
TMLAX	+ 0.86	ENPSX
INRSX	+ 0.84	FIKAX

High negative correlations

INRSX	- 0.28	TREIX
FIKAX	- 0.17	TREIX
SMAPX	- 0.02	TREIX

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
TREIX	0.08	0.01	0.22	(2.83)	0.00	(0.13)	0.20	(0.10)	0.69
SMAPX	1.09	0.12	0.10	(0.88)	1.44	(1.22)	2.04	(1.84)	7.93
BACCX	0.82	0.16	0.14	4.50	1.12	(0.83)	1.49	(1.90)	5.48
FIKAX	1.00	0.13	0.09	0.16	1.54	(0.95)	1.80	(2.54)	6.59
XEMOX	1.09	0.15	0.12	(0.85)	1.31	(1.19)	2.21	(2.05)	6.66
INRSX	0.93	0.06	0.07	0.99	1.17	(1.01)	1.70	(1.98)	5.43
ENPSX	1.46	0.25	0.11	0.25	2.01	(1.37)	3.17	(3.05)	8.59
TMLAX	1.02	0.10	0.08	0.13	1.24	(1.13)	1.87	(1.92)	6.23

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