Columbia Emerging Correlations

Mutual Funds . USA . 
Fund . Columbia Emerging Markets
UMEBX Fund   16.76  0.01  0.06%   
The current 90-days correlation between Columbia Emerging Markets and Alphacentric Symmetry Strategy is -0.06 (i.e., Good 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

Good diversification

The correlation between Columbia Emerging Markets and DJI is -0.07 (i.e., Good 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 World Market Map 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 bureau of labor statistics.

Moving together with Columbia Mutual Fund

  0.93VEMAX Vanguard Emerging MarketsPairCorr
  0.93VEIEX Vanguard Emerging MarketsPairCorr
  0.93VEMIX Vanguard Emerging MarketsPairCorr
  0.93VEMRX Vanguard Emerging MarketsPairCorr
  0.93FWWNX American Funds NewPairCorr
  0.93FNFWX American Funds NewPairCorr
  0.93NEWFX New World FundPairCorr
  0.93NWFFX New World FundPairCorr
  0.93NEWCX New World FundPairCorr
  0.93ODVYX Oppenheimer DevelopingPairCorr
  0.77SMPSX Semiconductor UltrasectorPairCorr
  0.78SMPIX Semiconductor UltrasectorPairCorr
  0.89FELIX Fidelity Advisor SemPairCorr
  0.9ONERX One Rock FundPairCorr
  0.88RYVYX Nasdaq 100 2xPairCorr
  0.88RYVLX Nasdaq 100 2xPairCorr
  0.88FSELX Fidelity Select SemiPairCorr
  0.8AXP American ExpressPairCorr
  0.76BAC Bank of AmericaPairCorr
  0.72TRV The Travelers CompaniesPairCorr
  0.73JNJ Johnson JohnsonPairCorr
  0.63WMT WalmartPairCorr
  0.75AA Alcoa Corp Earnings Call This WeekPairCorr
  0.67XOM Exxon Mobil CorpPairCorr

Moving against Columbia Mutual Fund

  0.75KO Coca Cola Earnings Call This WeekPairCorr
  0.64DIS Walt DisneyPairCorr
  0.42CEE Central Europe RussiaPairCorr

Related Correlations Analysis


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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