Columbia Select Correlations

UMLGX Fund

USD 8.21 0.19 2.37%

The current 90-days correlation between Columbia Select Large and The Hartford Municipal is 0.07 (i.e., Significant diversification). The correlation of Columbia Select 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 Select Correlation With Market

Poor diversification

The correlation between Columbia Select Large and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Select Large and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Columbia Select Large. 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 price.

Moving together with Columbia Mutual Fund

0.68	CDAZX	Multi-manager Directional	Pair Corr
0.95	CUURX	Columbia Small Cap	Pair Corr
0.91	CVERX	Columbia Mid Cap	Pair Corr
0.65	CVQZX	Columbia Disciplined	Pair Corr
0.96	SSVIX	Columbia Select Smaller	Pair Corr
0.98	GEGTX	Columbia Large Cap	Pair Corr
0.84	CLM	Cornerstone Strategic	Pair Corr
0.99	SCIRX	Columbia Seligman	Pair Corr
0.99	SCMIX	Columbia Seligman	Pair Corr
0.74	CGEZX	Columbia Select Global	Pair Corr
0.98	CGFYX	Columbia Large Cap	Pair Corr
0.97	CXXRX	Columbia Small Cap	Pair Corr
0.99	CGQYX	Columbia Disciplined	Pair Corr
0.98	CGTYX	Columbia Seligman Global	Pair Corr
0.98	CGTUX	Columbia Global Tech	Pair Corr
1.0	CGTRX	Columbia Select Large	Pair Corr
0.98	CGWRX	Columbia Large Cap	Pair Corr
0.91	NAMAX	Columbia Mid Cap	Pair Corr

Moving against Columbia Mutual Fund

0.74	LIBCX	Columbia Total Return	Pair Corr
0.71	CGCYX	Columbia Greater China	Pair Corr
0.65	CUSBX	Columbia Ultra Short	Pair Corr
0.61	SRINX	Columbia Porate Income	Pair Corr
0.59	CEBYX	Columbia Emerging Markets	Pair Corr
0.37	CEPRX	Columbia Income Oppo	Pair Corr
0.75	UMMGX	Columbia Bond	Pair Corr
0.61	NSMIX	Columbia Short Term	Pair Corr
0.47	RSERX	Victory Sophus Emerging	Pair Corr
0.38	CHHYX	Columbia High Yield	Pair Corr
0.38	CHMYX	Columbia High Yield	Pair Corr
0.37	SEMAX	Columbia Amt Free	Pair Corr
0.37	SETMX	Columbia Amt Free	Pair Corr
0.33	CHMCX	Columbia High Yield	Pair Corr

Related Correlations Analysis

	HHMYX	UGSFX	GANPX	ABIMX	BBINX	BMBSX	USGDX
HHMYX		0.83	0.91	0.87	0.94	0.98	0.83	HHMYX
UGSFX	0.83		0.89	0.68	0.84	0.86	0.98	UGSFX
GANPX	0.91	0.89		0.81	0.94	0.9	0.86	GANPX
ABIMX	0.87	0.68	0.81		0.95	0.88	0.74	ABIMX
BBINX	0.94	0.84	0.94	0.95		0.94	0.86	BBINX
BMBSX	0.98	0.86	0.9	0.88	0.94		0.88	BMBSX
USGDX	0.83	0.98	0.86	0.74	0.86	0.88		USGDX
	HHMYX	UGSFX	GANPX	ABIMX	BBINX	BMBSX	USGDX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Select 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 Select'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
HHMYX	0.14	(0.01)	0.10	(0.35)	0.19	(0.19)	0.36	(0.36)	0.84
UGSFX	0.25	0.02	0.15	0.73	0.24	(0.30)	0.60	(0.50)	1.55
GANPX	0.06	0.00	0.23	(0.02)	0.00	(0.12)	0.10	(0.10)	0.48
ABIMX	0.23	(0.02)	0.00	0.51	0.00	0.00	0.51	(0.51)	1.44
BBINX	0.13	(0.01)	0.12	0.28	0.17	(0.18)	0.29	(0.30)	0.78
BMBSX	0.10	(0.01)	0.12	(0.40)	0.15	(0.13)	0.18	(0.26)	0.71
USGDX	0.68	0.02	0.06	2.27	0.77	(0.80)	1.45	(1.45)	3.93

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