Columbia Emerging Correlations

ECON Etf

USD 22.25 0.04 0.18%

The current 90-days correlation between Columbia Emerging Markets and SPDR SP Emerging is 0.79 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Columbia Emerging moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Columbia Emerging Markets moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Columbia Emerging Correlation With Market

Very weak diversification

The correlation between Columbia Emerging Markets and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Columbia Emerging Markets. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Columbia Etf

0.85	VWO	Vanguard FTSE Emerging Sell-off Trend	Pair Corr
0.82	IEMG	iShares Core MSCI Sell-off Trend	Pair Corr
0.72	EMC	Global X Funds	Pair Corr
0.81	EEM	iShares MSCI Emerging	Pair Corr
0.84	SPEM	SPDR Portfolio Emerging Sell-off Trend	Pair Corr
0.79	FNDE	Schwab Fundamental	Pair Corr
0.77	ESGE	iShares ESG Aware	Pair Corr
0.97	SFGRX	Seafarer Overseas	Pair Corr
0.82	DGS	WisdomTree Emerging	Pair Corr
0.83	XSOE	WisdomTree Emerging	Pair Corr
0.64	FXY	Invesco CurrencyShares	Pair Corr
0.62	PMBS	PIMCO Mortgage Backed	Pair Corr
0.65	KO	Coca Cola Sell-off Trend	Pair Corr
0.63	T	ATT Inc Aggressive Push	Pair Corr
0.65	MCD	McDonalds	Pair Corr
0.64	VZ	Verizon Communications Sell-off Trend	Pair Corr

Moving against Columbia Etf

0.44	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.34	PFE	Pfizer Inc	Pair Corr
0.31	HPQ	HP Inc	Pair Corr
0.49	AXP	American Express	Pair Corr
0.49	CAT	Caterpillar	Pair Corr
0.38	DIS	Walt Disney	Pair Corr
0.37	MSFT	Microsoft Aggressive Push	Pair Corr

Related Correlations Analysis

	EWX	DGS	ELD	EDIV	EELV
EWX		0.89	0.54	0.49	0.62	EWX
DGS	0.89		0.67	0.74	0.78	DGS
ELD	0.54	0.67		0.73	0.86	ELD
EDIV	0.49	0.74	0.73		0.7	EDIV
EELV	0.62	0.78	0.86	0.7		EELV
	EWX	DGS	ELD	EDIV	EELV

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Columbia Emerging Constituents Risk-Adjusted Indicators

There is a big difference between Columbia Etf performing well and Columbia Emerging ETF 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 Emerging'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
EWX	0.66	(0.05)	0.00	(0.13)	0.00	0.00	1.33	(1.82)	3.90
DGS	0.57	(0.02)	0.00	(0.03)	0.00	0.00	1.01	(1.68)	3.68
ELD	0.59	0.04	0.06	0.59	0.59	(0.73)	1.34	(1.18)	4.22
EDIV	0.50	0.04	0.06	0.14	0.62	(0.53)	0.92	(1.03)	2.95
EELV	0.46	0.04	0.06	0.13	0.52	(0.49)	1.03	(0.86)	3.01

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