Columbia High Correlations

CHMCX Fund

USD 9.05 0.01 0.11%

The current 90-days correlation between Columbia High Yield and Angel Oak Multi Strategy is 0.08 (i.e., Significant diversification). The correlation of Columbia High 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 High Correlation With Market

Significant diversification

The correlation between Columbia High Yield and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia High Yield 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 High Yield. 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 world development indicators.

Moving together with Columbia Mutual Fund

0.62	SGTRX	Columbia Seligman Global	Pair Corr
0.8	CLDYX	Columbia Limited Duration	Pair Corr
0.74	CMGUX	Cmg Ultra Short	Pair Corr
0.78	IUTIX	Columbia Treasury Index	Pair Corr
0.97	NHMRX	Nuveen High Yield	Pair Corr
0.97	NHMFX	Nuveen High Yield	Pair Corr
0.93	ABHFX	American High Income	Pair Corr
0.92	AHICX	American High Income	Pair Corr
0.9	AMHIX	American High Income	Pair Corr
0.94	NHMAX	Nuveen High Yield	Pair Corr
0.97	NHCCX	Nuveen High Yield	Pair Corr
0.98	GHYCX	Goldman Sachs High	Pair Corr
0.95	GHYAX	Goldman Sachs High	Pair Corr
0.92	ACTDX	Invesco High Yield	Pair Corr
0.65	PGHAX	Putnam Global Health	Pair Corr

Moving against Columbia Mutual Fund

0.56	ACINX	Columbia Acorn Inter	Pair Corr
0.45	JCVCX	Classic Value	Pair Corr
0.43	NHS	Neuberger Berman High	Pair Corr
0.41	DFFVX	Us Targeted Value	Pair Corr

Related Correlations Analysis

	ANGCX	DBELX	MKDCX	RYCVX	REMVX	PCEMX	GMAQX
ANGCX		0.87	0.72	0.69	0.88	0.68	0.78	ANGCX
DBELX	0.87		0.66	0.71	0.79	0.64	0.74	DBELX
MKDCX	0.72	0.66		0.87	0.91	0.96	0.9	MKDCX
RYCVX	0.69	0.71	0.87		0.79	0.82	0.84	RYCVX
REMVX	0.88	0.79	0.91	0.79		0.92	0.9	REMVX
PCEMX	0.68	0.64	0.96	0.82	0.92		0.89	PCEMX
GMAQX	0.78	0.74	0.9	0.84	0.9	0.89		GMAQX
	ANGCX	DBELX	MKDCX	RYCVX	REMVX	PCEMX	GMAQX

Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia High 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 High'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
ANGCX	0.08	0.00	(0.52)	0.40	0.00	(0.17)	0.23	(0.12)	0.58
DBELX	0.21	0.02	(0.11)	0.21	0.20	(0.23)	0.42	(0.53)	1.06
MKDCX	0.73	0.01	0.00	0.08	0.96	(0.76)	1.49	(1.36)	4.92
RYCVX	1.07	0.00	0.04	0.07	1.35	(1.13)	2.38	(2.12)	5.92
REMVX	0.62	0.07	0.05	0.19	0.71	(0.71)	1.30	(0.83)	4.51
PCEMX	0.65	0.05	0.02	0.14	0.89	(0.75)	1.61	(1.36)	5.32
GMAQX	0.59	0.03	0.00	0.12	0.77	(0.62)	1.18	(1.07)	4.09

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