Columbia Global Correlations

CTCAX Fund

USD 78.89 2.13 2.63%

The current 90-days correlation between Columbia Global Tech and Putnam Global Technology is 0.99 (i.e., No risk reduction). 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

Very weak diversification

The correlation between Columbia Global Technology and DJI is 0.51 (i.e., Very weak 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 nation.

Moving together with Columbia Mutual Fund

0.69	YAAS	Youxin Technology	Pair Corr
0.62	ZENA	ZenaTech	Pair Corr
0.7	ZSPC	zSpace, Common stock	Pair Corr
0.72	INGM	Ingram Micro Holding	Pair Corr
0.69	MIND	Mind Technology	Pair Corr
0.79	HPE-PC	Hewlett Packard Ente	Pair Corr
0.67	NXXT	NextNRG Symbol Change	Pair Corr
0.61	CORZZ	Core Scientific, Tranche	Pair Corr
0.79	SLNHP	Soluna Holdings Preferred	Pair Corr
0.77	PENG	Penguin Solutions, Symbol Change	Pair Corr

Moving against Columbia Mutual Fund

0.54	MTTR	Matterport	Pair Corr
0.45	INFN	Infinera	Pair Corr
0.44	HPAIW	Helport AI Limited	Pair Corr
0.71	CUSOX	Columbia Ultra Short	Pair Corr
0.62	SRIJX	Columbia Corporate Income	Pair Corr
0.58	NTCL	NETCLASS TECHNOLOGY INC	Pair Corr
0.35	AMBR	Amber Road, Symbol Change	Pair Corr

Related Correlations Analysis

	PGTAX	BGSAX	CMTFX	SHGTX	FELAX
PGTAX		0.99	0.9	0.93	0.9	PGTAX
BGSAX	0.99		0.9	0.94	0.89	BGSAX
CMTFX	0.9	0.9		0.94	0.87	CMTFX
SHGTX	0.93	0.94	0.94		0.94	SHGTX
FELAX	0.9	0.89	0.87	0.94		FELAX
	PGTAX	BGSAX	CMTFX	SHGTX	FELAX

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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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PGTAX	1.39	(0.21)	(0.19)	1.97	(3.65)	7.88
BGSAX	1.53	(0.20)	(0.17)	2.38	(3.58)	9.08
CMTFX	1.35	(0.16)	0.71	2.05	(3.44)	7.85
SHGTX	1.29	(0.20)	(0.18)	1.86	(3.18)	7.73
FELAX	2.07	(0.25)	(0.20)	3.28	(4.98)	15.06

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