Columbia Convertible Correlations

Mutual Funds . USA . 
Fund . Columbia Vertible Securities
PHIKX Fund  USD 23.63  0.01  0.04%   
The current 90-days correlation between Columbia Convertible and Gmo Quality Fund is 0.04 (i.e., Significant 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

Significant diversification

The correlation between Columbia Vertible Securities and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Vertible Securities and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Columbia Vertible 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 industry.

Moving together with Columbia Mutual Fund

  0.62CUSOX Columbia Ultra ShortPairCorr
  0.97CDOAX Columbia DividendPairCorr
  0.97ILGJX Columbia Integrated LargePairCorr
  0.95ILVFX Columbia Integrated LargePairCorr
  0.97IMRFX Columbia Global OppoPairCorr
  0.97CFIAX Columbia Flexible CapitalPairCorr
  0.95LIACX Columbia AcornPairCorr
  0.61SCICX Columbia SeligmanPairCorr
  0.64LIBAX Columbia Total ReturnPairCorr
  0.97INDZX Columbia DiversifiedPairCorr
  0.96INEAX Columbia High YieldPairCorr
  0.97INUTX Columbia DividendPairCorr
  0.98CGTDX Columbia Global TechPairCorr
  0.98AQEAX Columbia DisciplinedPairCorr
  0.96UMEBX Columbia Emerging MarketsPairCorr
  0.96NSGAX Columbia Select LargePairCorr
  0.62NSMDX Columbia Short DurationPairCorr

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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