Columbia Small Correlations

CXXRX Fund

USD 28.72 0.09 0.31%

The current 90-days correlation between Columbia Small Cap and Barings Emerging Markets is 0.38 (i.e., Weak 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 0.87 (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 metropolitan statistical area.

Moving together with Columbia Mutual Fund

0.76	CUSHX	Columbia Ultra Short	Pair Corr
0.72	CUSBX	Columbia Ultra Short	Pair Corr
0.92	CDAZX	Multi-manager Directional	Pair Corr
0.99	CUURX	Columbia Small Cap	Pair Corr
0.91	CDDYX	Columbia Dividend Income	Pair Corr
0.91	CDDRX	Columbia Dividend Income	Pair Corr
0.96	CDEYX	Columbia Diversified	Pair Corr
0.91	CDIRX	Columbia Dividend Income	Pair Corr
0.89	CDOZX	Columbia Dividend	Pair Corr
0.89	CDOYX	Columbia Dividend	Pair Corr
0.63	CDORX	Columbia Dividend	Pair Corr
0.96	CVERX	Columbia Mid Cap	Pair Corr
0.96	CDVZX	Columbia Diversified	Pair Corr
0.96	CVQZX	Columbia Disciplined	Pair Corr
0.71	CEARX	Columbia Acorn	Pair Corr
0.68	CVVRX	Columbia Small Cap	Pair Corr
0.91	CECYX	Columbia Large Cap	Pair Corr
0.71	CECFX	Columbia Large Cap	Pair Corr
0.99	SSVIX	Columbia Select Smaller	Pair Corr
0.91	CEVYX	Columbia Global Equity	Pair Corr
0.91	CEVZX	Columbia Global Equity	Pair Corr
0.84	GEGTX	Columbia Large Cap	Pair Corr
0.88	CFCYX	Columbia Flexible Capital	Pair Corr
0.66	CFCRX	Columbia Flexible Capital	Pair Corr
0.69	CFCIX	Columbia Large Cap	Pair Corr

Moving against Columbia Mutual Fund

0.67	CUVRX	Columbia Government	Pair Corr
0.64	CUTRX	Columbia Treasury Index	Pair Corr
0.63	CUTYX	Columbia Treasury Index	Pair Corr
0.45	SRINX	Columbia Porate Income	Pair Corr
0.35	CDLRX	Columbia Limited Duration	Pair Corr
0.61	LIBCX	Columbia Total Return	Pair Corr

Related Correlations Analysis

	BXECX	TEOJX	TEDMX	LOTCX	HCEMX	EMSLX
BXECX		0.66	0.67	0.31	0.68	0.64	BXECX
TEOJX	0.66		0.91	-0.29	0.94	0.97	TEOJX
TEDMX	0.67	0.91		-0.29	0.99	0.9	TEDMX
LOTCX	0.31	-0.29	-0.29		-0.26	-0.24	LOTCX
HCEMX	0.68	0.94	0.99	-0.26		0.93	HCEMX
EMSLX	0.64	0.97	0.9	-0.24	0.93		EMSLX
	BXECX	TEOJX	TEDMX	LOTCX	HCEMX	EMSLX

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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

HCEMX	+ 0.99	TEDMX
EMSLX	+ 0.97	TEOJX
HCEMX	+ 0.94	TEOJX
EMSLX	+ 0.93	HCEMX
TEDMX	+ 0.91	TEOJX
EMSLX	+ 0.9	TEDMX

High negative correlations

LOTCX	- 0.29	TEDMX
LOTCX	- 0.29	TEOJX
HCEMX	- 0.26	LOTCX
EMSLX	- 0.24	LOTCX

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
BXECX	0.26	(0.01)	(0.33)	0.07	0.22	(0.37)	0.65	(0.40)	1.45
TEOJX	0.65	0.00	(0.13)	0.16	0.84	(0.71)	1.76	(1.83)	4.91
TEDMX	0.84	(0.04)	(0.10)	0.02	0.97	(1.05)	1.84	(2.00)	6.20
LOTCX	0.64	(0.02)	0.00	0.50	0.00	0.00	1.09	(1.30)	4.17
HCEMX	0.72	(0.04)	0.00	(0.05)	0.00	0.00	1.83	(1.86)	4.70
EMSLX	0.75	(0.07)	0.00	(1.21)	0.00	0.00	1.76	(2.14)	6.36

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