Columbia Emerging Correlations

Mutual Funds . USA . 
Fund . Columbia Emerging Markets
CEBYX Fund  USD 9.75  0.01  0.10%   
The current 90-days correlation between Columbia Emerging Markets and Smallcap World Fund is 0.37 (i.e., Weak diversification). The correlation of Columbia Emerging 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 Emerging Correlation With Market

Weak diversification

The correlation between Columbia Emerging Markets and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Emerging Markets 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 Emerging Markets. 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 manufacturing.

Moving together with Columbia Mutual Fund

  0.99FGBMX Fidelity New MarketsPairCorr
  0.99FGZMX Fidelity New MarketsPairCorr
  0.63FGWMX Fidelity New MarketsPairCorr
  0.63FGVMX Fidelity New MarketsPairCorr
  1.0FGYMX Fidelity New MarketsPairCorr
  0.63MEDIX Mfs Emerging MarketsPairCorr
  0.99MEDCX Mfs Emerging MarketsPairCorr
  0.99MEDAX Mfs Emerging MarketsPairCorr
  0.91MEDBX Mfs Emerging MarketsPairCorr
  0.99MEDEX Mfs Emerging MarketsPairCorr
  0.85RIVKX American Funds InterPairCorr
  0.98FFFCX Fidelity Freedom 2010PairCorr
  0.88FDEGX Fidelity Growth StraPairCorr
  0.91SPSDX Sterling Capital BehPairCorr
  0.9PSHAX Short Term FundPairCorr
  0.94FISVX Fidelity Small CapPairCorr
  0.93CSRYX Columbia Select LargePairCorr
  0.67CVX Chevron CorpPairCorr
  0.63IBM International BusinessPairCorr

Moving against Columbia Mutual Fund

  0.65MCD McDonaldsPairCorr
  0.31VZ Verizon Communications Aggressive PushPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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