Columbia Multi Correlations

MUST Etf

USD 20.13 0.01 0.05%

The current 90-days correlation between Columbia Multi Sector and IQ MacKay Municipal is 0.59 (i.e., Very weak diversification). The correlation of Columbia Multi 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 Multi Correlation With Market

Modest diversification

The correlation between Columbia Multi Sector Municipa 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 Multi Sector Municipa 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 Multi Sector Municipal. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Columbia Etf

0.93	MUB	iShares National Muni	Pair Corr
0.94	VTEB	Vanguard Tax Exempt	Pair Corr
0.94	FMB	First Trust Managed	Pair Corr
0.94	ITM	VanEck Intermediate Muni	Pair Corr
0.87	MMIT	IQ MacKay Municipal	Pair Corr
0.92	HMOP	Hartford Municipal	Pair Corr
0.91	TAXF	American Century Div	Pair Corr
0.9	JMUB	JPMorgan Municipal	Pair Corr
0.92	MINO	PIMCO ETF Trust	Pair Corr
0.73	CSCO	Cisco Systems	Pair Corr
0.67	PG	Procter Gamble Sell-off Trend	Pair Corr

Moving against Columbia Etf

0.49	MRK	Merck Company	Pair Corr
0.38	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.05	0.56	-0.54	0.22	0.38	0.35	0.86	-0.69	-0.12	META
MSFT	0.05		-0.59	-0.07	-0.81	0.79	0.88	0.29	0.44	-0.57	MSFT
UBER	0.56	-0.59		-0.3	0.76	-0.33	-0.48	0.43	-0.83	0.5	UBER
F	-0.54	-0.07	-0.3		0.12	-0.19	-0.26	-0.37	0.34	0.48	F
T	0.22	-0.81	0.76	0.12		-0.7	-0.73	0.0	-0.64	0.64	T
A	0.38	0.79	-0.33	-0.19	-0.7		0.84	0.63	0.2	-0.47	A
CRM	0.35	0.88	-0.48	-0.26	-0.73	0.84		0.49	0.22	-0.65	CRM
JPM	0.86	0.29	0.43	-0.37	0.0	0.63	0.49		-0.55	-0.02	JPM
MRK	-0.69	0.44	-0.83	0.34	-0.64	0.2	0.22	-0.55		-0.39	MRK
XOM	-0.12	-0.57	0.5	0.48	0.64	-0.47	-0.65	-0.02	-0.39		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.88	MSFT
JPM	+ 0.86	META
CRM	+ 0.84	A
A	+ 0.79	MSFT
T	+ 0.76	UBER
XOM	+ 0.64	T

High negative correlations

MRK	- 0.83	UBER
T	- 0.81	MSFT
CRM	- 0.73	T
A	- 0.7	T
MRK	- 0.69	META
XOM	- 0.65	CRM

Columbia Multi Competition Risk-Adjusted Indicators

There is a big difference between Columbia Etf performing well and Columbia Multi 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 Multi'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
META	1.63	0.02	0.04	(0.14)	2.26	(1.45)	2.96	(3.73)	8.90
MSFT	1.07	(0.16)	0.00	(6.44)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.94	0.34	0.15	0.38	2.15	(2.13)	4.72	(3.13)	12.75
F	1.45	0.08	0.06	(1.07)	2.22	(1.39)	2.71	(2.89)	10.14
T	0.99	0.36	0.24	(12.29)	1.40	(1.16)	1.99	(1.21)	11.66
A	1.14	(0.15)	0.00	(0.21)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.39	(0.28)	0.00	(2.21)	0.00	0.00	2.72	(3.53)	8.88
JPM	1.10	0.11	0.06	0.03	1.67	(1.06)	2.16	(2.12)	6.85
MRK	1.21	(0.13)	0.00	0.61	0.00	0.00	2.07	(2.25)	11.58
XOM	1.01	0.19	0.16	1.64	1.23	(1.06)	2.55	(2.36)	5.89

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