Columbia Amt-free Correlations

LITAX Fund  USD 9.37  0.02  0.21%   
The current 90-days correlation between Columbia Amt Free and Small Midcap Dividend Income is 0.2 (i.e., Modest diversification). The correlation of Columbia Amt-free 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 Amt-free Correlation With Market

Average diversification

The correlation between Columbia Amt Free Intermediate and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Amt Free Intermediate and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Columbia Amt Free Intermediate. 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

  0.79SRIJX Columbia Corporate IncomePairCorr
  0.66CUSOX Columbia Ultra ShortPairCorr
  0.69CDOAX Columbia DividendPairCorr
  0.99LHIAX Columbia High YieldPairCorr
  0.96IMNTX Columbia Minnesota TaxPairCorr
  0.61CFIAX Columbia Flexible CapitalPairCorr
  0.74LIBAX Columbia Total ReturnPairCorr
  0.81INEAX Columbia High YieldPairCorr
  0.81LIIAX Columbia Porate IncomePairCorr
  0.95INTAX Columbia StrategicPairCorr
  0.99LITCX Columbia Amt FreePairCorr
  0.64INUTX Columbia DividendPairCorr
  0.95NACMX Columbia Amt FreePairCorr
  0.61PISDX Columbia Pyrford IntPairCorr
  0.61PISLX Columbia Pyrford IntPairCorr
  0.61PISOX Columbia Pyrford IntPairCorr
  0.61PISJX Columbia Pyrford IntPairCorr
  0.61PISQX Columbia Pyrford IntPairCorr
  0.64UMMDX Columbia BondPairCorr
  0.91NSMDX Columbia Short DurationPairCorr

Moving against Columbia Mutual Fund

  0.41LIACX Columbia AcornPairCorr
  0.36SSCVX Columbia Select SmallerPairCorr
  0.33CGOAX Columbia Small CapPairCorr

Related Correlations Analysis

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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   
PEVAXPMDDX
GLVIXPMDDX
ESCIXANTMX
PEVAXGLVIX
ANTMXGLVIX
ESCIXGLVIX
  
High negative correlations   
DFUKXPMDDX
PEVAXDFUKX

Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Amt-free 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 Amt-free'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.