Columbia India Correlations

INCO Etf

USD 60.05 0.58 0.96%

The current 90-days correlation between Columbia India Consumer and iShares MSCI India is 0.71 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Columbia India moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Columbia India Consumer moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Columbia India Correlation With Market

Modest diversification

The correlation between Columbia India Consumer and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia India Consumer and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Columbia India Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Columbia Etf

0.95	INDA	iShares MSCI India Sell-off Trend	Pair Corr
0.96	EPI	WisdomTree India Earnings Sell-off Trend	Pair Corr
0.96	INDSX	Financial Investors Trust	Pair Corr
0.96	SMIN	iShares MSCI India Low Volatility	Pair Corr
0.96	PIN	Invesco India ETF	Pair Corr
0.96	FLIN	Franklin FTSE India	Pair Corr
0.96	GLIN	VanEck India Growth	Pair Corr
0.93	NFTY	First Trust India	Pair Corr
0.63	INDF	Exchange Traded Concepts	Pair Corr
0.78	MSFT	Microsoft Aggressive Push	Pair Corr
0.77	AA	Alcoa Corp	Pair Corr

Moving against Columbia Etf

0.8	SHLD	Global X Funds	Pair Corr
0.72	GDXU	MicroSectors Gold Miners	Pair Corr
0.51	FNGD	MicroSectors FANG Index	Pair Corr
0.47	LUX	Tema ETF Trust	Pair Corr
0.91	JNJ	Johnson Johnson	Pair Corr
0.87	T	ATT Inc Aggressive Push	Pair Corr
0.81	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.72	GE	GE Aerospace	Pair Corr
0.7	IBM	International Business	Pair Corr
0.68	MCD	McDonalds	Pair Corr
0.67	CVX	Chevron Corp	Pair Corr
0.55	INTC	Intel Sell-off Trend	Pair Corr
0.52	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SMIN	INDY	PIN	EPI	FLIN
SMIN		0.93	0.98	0.96	0.98	SMIN
INDY	0.93		0.99	0.94	0.99	INDY
PIN	0.98	0.99		0.96	1.0	PIN
EPI	0.96	0.94	0.96		0.96	EPI
FLIN	0.98	0.99	1.0	0.96		FLIN
	SMIN	INDY	PIN	EPI	FLIN

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Columbia India Constituents Risk-Adjusted Indicators

There is a big difference between Columbia Etf performing well and Columbia India 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 India'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
SMIN	1.27	(0.16)	(0.33)	2.39	(2.49)	6.77
INDY	0.60	(0.05)	(0.14)	1.35	(1.28)	3.29
PIN	0.75	(0.08)	(0.22)	1.34	(1.75)	4.34
EPI	0.76	(0.14)	1.88	1.20	(1.70)	4.34
FLIN	0.74	(0.08)	(0.21)	1.44	(1.59)	3.85

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