Columbia Overseas Correlations

COAVX Fund

USD 14.64 0.01 0.07%

The current 90-days correlation between Columbia Overseas Value and Columbia Large Cap is 0.58 (i.e., Very weak diversification). The correlation of Columbia Overseas 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 Overseas Correlation With Market

Poor diversification

The correlation between Columbia Overseas Value and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Overseas Value 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 Overseas Value. 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 unemployment.

Moving together with Columbia Mutual Fund

0.76	CDOAX	Columbia Dividend	Pair Corr
0.77	ILVBX	Columbia Integrated Large	Pair Corr
0.68	ILVFX	Columbia Integrated Large	Pair Corr
0.84	CEVAX	Columbia Global Value	Pair Corr
0.62	IMRFX	Columbia Global Oppo	Pair Corr
0.69	INDZX	Columbia Diversified	Pair Corr
0.67	INEAX	Columbia High Yield	Pair Corr
0.76	INUTX	Columbia Dividend	Pair Corr
0.65	GFSDX	Columbia Dividend Income	Pair Corr

Related Correlations Analysis

	NFEDX	NFEAX	SRIJX	CUSOX	CDOAX	ILGCX	ILGGX	ILGJX	SSCVX
NFEDX		1.0	0.76	0.86	0.72	0.97	0.97	0.98	0.08	NFEDX
NFEAX	1.0		0.76	0.86	0.72	0.97	0.97	0.98	0.08	NFEAX
SRIJX	0.76	0.76		0.76	0.78	0.81	0.81	0.81	0.29	SRIJX
CUSOX	0.86	0.86	0.76		0.68	0.81	0.81	0.82	-0.02	CUSOX
CDOAX	0.72	0.72	0.78	0.68		0.77	0.77	0.76	0.55	CDOAX
ILGCX	0.97	0.97	0.81	0.81	0.77		1.0	1.0	0.19	ILGCX
ILGGX	0.97	0.97	0.81	0.81	0.77	1.0		1.0	0.18	ILGGX
ILGJX	0.98	0.98	0.81	0.82	0.76	1.0	1.0		0.17	ILGJX
SSCVX	0.08	0.08	0.29	-0.02	0.55	0.19	0.18	0.17		SSCVX
	NFEDX	NFEAX	SRIJX	CUSOX	CDOAX	ILGCX	ILGGX	ILGJX	SSCVX

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

NFEAX	+ 1.0	NFEDX
ILGGX	+ 1.0	ILGCX
ILGJX	+ 1.0	ILGCX
ILGJX	+ 1.0	ILGGX
ILGJX	+ 0.98	NFEDX
ILGJX	+ 0.98	NFEAX

High negative correlations

SSCVX

- 0.02

CUSOX

Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Overseas 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 Overseas' 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
NFEDX	0.72	0.00	0.00	0.07	1.00	(0.72)	1.55	(1.32)	4.89
NFEAX	0.72	0.00	0.00	0.07	0.97	(0.72)	1.58	(1.31)	4.91
SRIJX	0.18	0.01	(0.23)	0.14	0.13	(0.22)	0.43	(0.32)	0.87
CUSOX	0.03	0.01	0.00	(2.59)	0.00	0.00	0.11	0.00	0.44
CDOAX	0.45	0.00	(0.03)	0.07	0.45	(0.52)	0.84	(0.86)	3.31
ILGCX	0.71	(0.01)	(0.01)	0.05	1.06	(0.70)	1.50	(1.97)	4.76
ILGGX	0.71	(0.01)	(0.01)	0.05	1.06	(0.68)	1.46	(1.99)	4.70
ILGJX	0.70	(0.01)	(0.01)	0.06	1.05	(0.66)	1.46	(1.94)	4.68
SSCVX	0.76	(0.07)	(0.05)	0.01	0.92	(0.90)	1.90	(1.52)	7.47

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