Columbia Convertible Correlations

Mutual Funds . USA . 
Fund . Columbia Convertible Securities
NCIDX Fund   23.80  0.17  0.72%   
The current 90-days correlation between Columbia Convertible and Tax Managed International Equity is 0.53 (i.e., Very weak diversification). The correlation of Columbia Convertible 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 Convertible Correlation With Market

Good diversification

The correlation between Columbia Convertible Securitie and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Convertible Securitie 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 Convertible Securities. 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 unemployment.

Moving together with Columbia Mutual Fund

  0.62SRIJX Columbia Corporate IncomePairCorr
  0.7CUSOX Columbia Ultra ShortPairCorr
  0.68CDOAX Columbia DividendPairCorr
  0.67ILGCX Columbia Integrated LargePairCorr
  0.67ILGGX Columbia Integrated LargePairCorr
  0.67ILGJX Columbia Integrated LargePairCorr
  0.62SSCVX Columbia Select SmallerPairCorr
  0.67ILVBX Columbia Integrated LargePairCorr
  0.67ILVFX Columbia Integrated LargePairCorr
  0.67CEVAX Columbia Global ValuePairCorr
  0.66IMRFX Columbia Global OppoPairCorr
  0.67CFIGX Columbia Flexible CapitalPairCorr
  0.63CFIAX Columbia Flexible CapitalPairCorr
  0.63LIACX Columbia AcornPairCorr
  0.72SCICX Columbia SeligmanPairCorr
  0.69PHIKX Columbia ConvertiblePairCorr
  0.66INDZX Columbia DiversifiedPairCorr
  0.63INEAX Columbia High YieldPairCorr
  0.61LIIAX Columbia Porate IncomePairCorr
  0.68INUTX Columbia DividendPairCorr
  0.7CGOAX Columbia Small CapPairCorr
  0.7CGTDX Columbia Global TechPairCorr
  0.62NACMX Columbia Amt FreePairCorr
  0.68AQEAX Columbia DisciplinedPairCorr
  0.64SVLCX Columbia Select LargePairCorr
  0.64NSGAX Columbia Select LargePairCorr
  0.65UMLAX Columbia Select LargePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Convertible 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 Convertible'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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