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

0.79	SRIJX	Columbia Corporate Income	Pair Corr
0.66	CUSOX	Columbia Ultra Short	Pair Corr
0.69	CDOAX	Columbia Dividend	Pair Corr
0.99	LHIAX	Columbia High Yield	Pair Corr
0.96	IMNTX	Columbia Minnesota Tax	Pair Corr
0.61	CFIAX	Columbia Flexible Capital	Pair Corr
0.74	LIBAX	Columbia Total Return	Pair Corr
0.81	INEAX	Columbia High Yield	Pair Corr
0.81	LIIAX	Columbia Porate Income	Pair Corr
0.95	INTAX	Columbia Strategic	Pair Corr
0.99	LITCX	Columbia Amt Free	Pair Corr
0.64	INUTX	Columbia Dividend	Pair Corr
0.95	NACMX	Columbia Amt Free	Pair Corr
0.61	PISDX	Columbia Pyrford Int	Pair Corr
0.61	PISLX	Columbia Pyrford Int	Pair Corr
0.61	PISOX	Columbia Pyrford Int	Pair Corr
0.61	PISJX	Columbia Pyrford Int	Pair Corr
0.61	PISQX	Columbia Pyrford Int	Pair Corr
0.64	UMMDX	Columbia Bond	Pair Corr
0.91	NSMDX	Columbia Short Duration	Pair Corr

Moving against Columbia Mutual Fund

0.41	LIACX	Columbia Acorn	Pair Corr
0.36	SSCVX	Columbia Select Smaller	Pair Corr
0.33	CGOAX	Columbia Small Cap	Pair Corr

Related Correlations Analysis

	PMDDX	GLVIX	ANTMX	ESCIX	DFUKX	PEVAX
PMDDX		0.79	0.38	0.46	-0.29	0.93	PMDDX
GLVIX	0.79		0.68	0.66	0.14	0.75	GLVIX
ANTMX	0.38	0.68		0.76	0.65	0.37	ANTMX
ESCIX	0.46	0.66	0.76		0.37	0.49	ESCIX
DFUKX	-0.29	0.14	0.65	0.37		-0.26	DFUKX
PEVAX	0.93	0.75	0.37	0.49	-0.26		PEVAX
	PMDDX	GLVIX	ANTMX	ESCIX	DFUKX	PEVAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PEVAX	+ 0.93	PMDDX
GLVIX	+ 0.79	PMDDX
ESCIX	+ 0.76	ANTMX
PEVAX	+ 0.75	GLVIX
ANTMX	+ 0.68	GLVIX
ESCIX	+ 0.66	GLVIX

High negative correlations

DFUKX	- 0.29	PMDDX
PEVAX	- 0.26	DFUKX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PMDDX	0.79	(0.01)	0.00	(0.03)	0.00	0.00	1.52	(1.73)	3.94
GLVIX	0.91	0.00	0.00	(0.03)	0.00	0.00	1.52	(2.01)	5.60
ANTMX	0.71	0.03	0.05	(0.28)	0.96	(0.75)	1.48	(1.52)	5.64
ESCIX	0.72	0.00	0.02	(0.13)	0.98	(0.75)	1.87	(1.88)	4.56
DFUKX	0.76	0.02	0.04	(0.12)	1.11	(0.72)	1.96	(1.50)	6.05
PEVAX	0.81	(0.08)	0.00	3.45	0.00	0.00	1.49	(1.91)	3.89

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC