Columbia Seligman Correlations

Mutual Funds . USA . 
Fund . Columbia Seligman Munications
SCMIX Fund  USD 162.26  1.16  0.72%   
The current 90-days correlation between Columbia Seligman and Vanguard Information Technology is 0.97 (i.e., Almost no diversification). The correlation of Columbia Seligman 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 Seligman Correlation With Market

Poor diversification

The correlation between Columbia Seligman Munications and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Seligman Munications 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 Seligman Munications. 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 gross domestic product.

Moving together with Columbia Mutual Fund

  0.67VVPR VivoPower InternationalPairCorr
  0.86FARO FARO TechnologiesPairCorr
  0.96DBD Diebold Nixdorf,PairCorr
  0.81GENVR Gen Digital ContingentPairCorr
  0.77BULLW Webull Warrants TrendingPairCorr
  0.67MIND Mind TechnologyPairCorr
  0.94HPE-PC Hewlett Packard EntePairCorr
  0.72AVPTW AvePointPairCorr
  0.68DAICW CID HoldCo, WarrantsPairCorr
  0.89CORZZ Core Scientific, TranchePairCorr
  0.68RZLVW Rezolve AI LimitedPairCorr
  0.87SATX SatixFy CommunicationsPairCorr
  0.87SRINX Columbia Porate IncomePairCorr
  0.95CUSBX Columbia Ultra ShortPairCorr

Moving against Columbia Mutual Fund

  0.88VSTE Vast RenewablesPairCorr
  0.81VISL Vislink Technologies Tech BoostPairCorr
  0.68APCXW AppTech Payments CorpPairCorr
  0.51EXOD Exodus Movement,PairCorr
  0.47DVLT Datavault AI Symbol ChangePairCorr
  0.36BULLZ Webull IncentivePairCorr
  0.87SMTK SmartKem, Common StockPairCorr
  0.85HPAIW Helport AI LimitedPairCorr
  0.84NOVA Sunnova Energy InterPairCorr
  0.73APCX Apptech CorpPairCorr
  0.54ODYS Odysightai Common StockPairCorr
  0.44AXIL AXIL Brands, TrendingPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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