Columbia Convertible Correlations

PHIKX Fund

USD 22.54 0.10 0.45%

The current 90-days correlation between Columbia Convertible and Rbc Emerging Markets is 0.42 (i.e., Very weak diversification). The correlation of Columbia Convertible 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 Convertible Correlation With Market

Very poor diversification

The correlation between Columbia Vertible Securities and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbia Vertible Securities and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Columbia Vertible Securities. 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 industry.

Moving together with Columbia Mutual Fund

0.85	CUSOX	Columbia Ultra Short	Pair Corr
0.98	ILVBX	Columbia Integrated Large	Pair Corr
0.92	ILVEX	Columbia Integrated Large	Pair Corr
0.97	SCICX	Columbia Seligman	Pair Corr
0.95	INUTX	Columbia Dividend	Pair Corr
0.98	CGOAX	Columbia Small Cap	Pair Corr
0.97	AQEAX	Columbia Disciplined	Pair Corr
0.92	SVLCX	Columbia Select Large	Pair Corr
0.77	NBICX	Columbia Capital All	Pair Corr
0.97	NTIAX	Columbia Mid Cap	Pair Corr
0.85	RBGCX	Columbia Capital All	Pair Corr
0.98	ISGDX	Columbia Integrated Small Steady Growth	Pair Corr
0.91	ISGLX	Columbia Integrated Small Steady Growth	Pair Corr
0.98	ISGNX	Columbia Integrated Small Steady Growth	Pair Corr
0.96	SHTCX	Columbia Seligman Global	Pair Corr
0.94	NFEAX	Columbia Large Cap	Pair Corr
0.95	CMUAX	Columbia Mid Cap	Pair Corr
0.97	SLMCX	Columbia Seligman	Pair Corr
0.93	SLVAX	Columbia Select Large	Pair Corr
1.0	PACIX	Columbia Convertible	Pair Corr
0.94	LBSAX	Columbia Dividend Income	Pair Corr
0.95	LCCAX	Columbia Trarian Core	Pair Corr
0.95	CSMIX	Columbia Small Cap	Pair Corr

Moving against Columbia Mutual Fund

0.74	LIBAX	Columbia Total Return	Pair Corr
0.71	PISDX	Columbia Pyrford Int	Pair Corr
0.77	LUTAX	Columbia Treasury Index	Pair Corr
0.72	CLMAX	Columbia Mortgage	Pair Corr
0.6	COSIX	Columbia Strategic Income	Pair Corr
0.52	COAVX	Columbia Overseas Value	Pair Corr
0.37	COEAX	Columbia Amt Free	Pair Corr

Related Correlations Analysis

	REMVX	QNZIX	QLENX	EMSLX	SMQFX	LOTCX
REMVX		0.12	-0.28	0.98	0.95	-0.25	REMVX
QNZIX	0.12		0.79	0.21	0.4	-0.02	QNZIX
QLENX	-0.28	0.79		-0.2	0.0	-0.28	QLENX
EMSLX	0.98	0.21	-0.2		0.96	-0.26	EMSLX
SMQFX	0.95	0.4	0.0	0.96		-0.34	SMQFX
LOTCX	-0.25	-0.02	-0.28	-0.26	-0.34		LOTCX
	REMVX	QNZIX	QLENX	EMSLX	SMQFX	LOTCX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

EMSLX	+ 0.98	REMVX
SMQFX	+ 0.96	EMSLX
SMQFX	+ 0.95	REMVX
QLENX	+ 0.79	QNZIX
SMQFX	+ 0.4	QNZIX
EMSLX	+ 0.21	QNZIX

High negative correlations

LOTCX	- 0.34	SMQFX
LOTCX	- 0.28	QLENX
QLENX	- 0.28	REMVX
LOTCX	- 0.26	EMSLX
LOTCX	- 0.25	REMVX
EMSLX	- 0.2	QLENX

Risk-Adjusted Indicators

There is a big difference between Columbia Mutual Fund performing well and Columbia Convertible 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 Convertible'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
REMVX	0.85	(0.08)	0.00	(0.10)	0.00	0.00	1.74	(2.04)	6.85
QNZIX	0.59	(0.02)	(0.06)	0.09	0.71	(0.61)	1.06	(1.07)	3.72
QLENX	0.32	0.04	(0.09)	0.24	0.22	(0.39)	0.76	(0.57)	2.17
EMSLX	0.72	(0.05)	0.00	(0.10)	0.00	0.00	1.76	(1.08)	6.36
SMQFX	0.58	(0.04)	(0.13)	0.01	0.75	(0.60)	1.27	(1.33)	3.52
LOTCX	0.64	(0.11)	0.00	(0.05)	0.00	0.00	1.09	(1.30)	4.17

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC