Columbia Select Correlations

Mutual Funds . USA . 
Fund . Columbia Select Large
CCWRX Fund  USD 9.91  0.09  0.92%   
The current 90-days correlation between Columbia Select Large and Aqr Small Cap is 0.61 (i.e., Poor 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 0.62 (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 Trending Equities 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 metropolitan statistical area.

Moving together with Columbia Mutual Fund

  0.99FAFGX American FundsPairCorr
  0.99FFAFX American FundsPairCorr
  0.99GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  0.99AGTHX Growth FundPairCorr
  0.99CGFFX Growth FundPairCorr
  0.99CGFCX Growth FundPairCorr
  0.99CGFAX Growth FundPairCorr
  0.99CGFEX Growth FundPairCorr
  0.99RGAEX Growth FundPairCorr
  0.9CIF Mfs Intermediate HighPairCorr
  0.91PCF Putnam High IncomePairCorr
  0.63JPM JPMorgan ChasePairCorr
  0.7IBM International BusinessPairCorr
  0.65CSCO Cisco SystemsPairCorr
  0.61CVX Chevron CorpPairCorr

Moving against Columbia Mutual Fund

  0.76XNBHX Neuberger Berman IntPairCorr
  0.74XDSMX Dreyfus StrategicPairCorr
  0.59MCD McDonaldsPairCorr
  0.56XNXJX Nuveen New JerseyPairCorr
  0.46XPPRX Voya Prime RatePairCorr

Related Correlations Analysis

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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.

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