Columbia Global Correlations

CTCAX Fund

USD 81.26 0.36 0.44%

The current 90-days correlation between Columbia Global Tech and Columbia Global Technology is -0.1 (i.e., Good diversification). The correlation of Columbia Global 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 Global Correlation With Market

Poor diversification

The correlation between Columbia Global Technology and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Global Technology 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 Global Technology. 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 nation.

Moving together with COLUMBIA Mutual Fund

0.63

EVOL

Evolving Systems

Pair Corr

Moving against COLUMBIA Mutual Fund

0.6	WEBB	Web Global Holdings	Pair Corr
0.58	DYSL	Dynasil Of	Pair Corr
0.57	DIDIY	Didi Global ADR	Pair Corr
0.46	WELX	Winland Holdings Tech Boost	Pair Corr
0.35	EACO	Eaco Corp Tech Boost	Pair Corr
0.62	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.49	GIB	CGI Inc Fiscal Year End 13th of November 2024	Pair Corr
0.4	GMM	Global Mofy Metaverse	Pair Corr
0.35	CETXP	Cemtrex Pref	Pair Corr

Related Correlations Analysis

	CMTFX	SHGTX	FELAX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3
CMTFX		0.9	0.98	0.0	-0.01	-0.46	-0.02	-0.03	0.0	0.46	CMTFX
SHGTX	0.9		0.86	0.0	0.06	-0.33	-0.06	0.03	0.0	0.33	SHGTX
FELAX	0.98	0.86		0.0	-0.16	-0.6	-0.03	-0.19	0.0	0.49	FELAX
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	-1.0	0.0	AQUI
MSTSX	-0.01	0.06	-0.16	0.0		0.83	0.09	0.98	0.0	-0.45	MSTSX
LBHIX	-0.46	-0.33	-0.6	0.0	0.83		0.12	0.87	0.0	-0.61	LBHIX
VIASP	-0.02	-0.06	-0.03	0.0	0.09	0.12		0.15	0.0	-0.18	VIASP
RRTLX	-0.03	0.03	-0.19	0.0	0.98	0.87	0.15		0.0	-0.47	RRTLX
OSHDF	0.0	0.0	0.0	-1.0	0.0	0.0	0.0	0.0		0.0	OSHDF
70082LAB3	0.46	0.33	0.49	0.0	-0.45	-0.61	-0.18	-0.47	0.0		70082LAB3
	CMTFX	SHGTX	FELAX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FELAX	+ 0.98	CMTFX
RRTLX	+ 0.98	MSTSX
SHGTX	+ 0.9	CMTFX
RRTLX	+ 0.87	LBHIX
FELAX	+ 0.86	SHGTX
LBHIX	+ 0.83	MSTSX

High negative correlations

OSHDF	- 1.0	AQUI
70082LAB3	- 0.61	LBHIX
LBHIX	- 0.6	FELAX
70082LAB3	- 0.47	RRTLX
LBHIX	- 0.46	CMTFX
70082LAB3	- 0.45	MSTSX

Risk-Adjusted Indicators

There is a big difference between COLUMBIA Mutual Fund performing well and Columbia Global 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 Global'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CMTFX	1.36	(0.05)	0.00	(0.97)	0.00	0.00	2.97	(3.47)	8.69
SHGTX	1.23	(0.18)	0.00	(0.01)	0.00	0.00	2.60	(3.41)	7.94
FELAX	2.28	(0.14)	0.00	(6.16)	0.00	0.00	4.76	(5.56)	16.18
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.56	0.10	(0.02)	(19.66)	0.62	(0.67)	1.21	(1.22)	4.07
LBHIX	0.16	0.05	(0.15)	0.53	0.00	(0.30)	0.24	(0.24)	1.44
VIASP	1.60	(0.06)	0.00	(0.18)	0.00	0.00	3.41	(4.97)	13.57
RRTLX	0.30	0.06	(0.13)	(7.77)	0.28	(0.35)	0.73	(0.64)	1.97
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
70082LAB3	0.90	0.00	(0.05)	0.09	2.00	(1.01)	1.52	(1.45)	24.27

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