Columbia High Yield Fund Market Value
| CHYYX Fund | USD 10.64 0.01 0.09% |
| Symbol | Columbia |
Columbia High 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Columbia High's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Columbia High.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Columbia High on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Columbia High Yield or generate 0.0% return on investment in Columbia High over 30 days. Columbia High is related to or competes with Morningstar Unconstrained, and SPACE. Under normal market conditions, the fund invests at least 80 percent of its net assets in high-yield debt instruments More
Columbia High Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Columbia High's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Columbia High Yield upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.27 | |||
| Information Ratio | (0.39) | |||
| Maximum Drawdown | 1.13 | |||
| Value At Risk | (0.38) | |||
| Potential Upside | 0.377 |
Columbia High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Columbia High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Columbia High's standard deviation. In reality, there are many statistical measures that can use Columbia High historical prices to predict the future Columbia High's volatility.| Risk Adjusted Performance | 0.0235 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.30) | |||
| Treynor Ratio | 0.0239 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Columbia High's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Columbia High Yield Backtested Returns
We consider Columbia High very steady. Columbia High Yield secures Sharpe Ratio (or Efficiency) of 0.0296, which signifies that the fund had a 0.0296% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Columbia High Yield, which you can use to evaluate the volatility of the entity. Please confirm Columbia High's Downside Deviation of 0.27, mean deviation of 0.1472, and Risk Adjusted Performance of 0.0235 to double-check if the risk estimate we provide is consistent with the expected return of 0.0063%. The fund shows a Beta (market volatility) of 0.19, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Columbia High's returns are expected to increase less than the market. However, during the bear market, the loss of holding Columbia High is expected to be smaller as well.
Auto-correlation | -0.01 |
Very weak reverse predictability
Columbia High Yield has very weak reverse predictability. Overlapping area represents the amount of predictability between Columbia High time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Columbia High Yield price movement. The serial correlation of -0.01 indicates that just 1.0% of current Columbia High price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.01 | |
| Spearman Rank Test | 0.33 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Columbia High Yield lagged returns against current returns
Autocorrelation, which is Columbia High mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Columbia High's mutual fund expected returns. We can calculate the autocorrelation of Columbia High returns to help us make a trade decision. For example, suppose you find that Columbia High has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Columbia High regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Columbia High mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Columbia High mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Columbia High mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Columbia High Lagged Returns
When evaluating Columbia High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Columbia High mutual fund have on its future price. Columbia High autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Columbia High autocorrelation shows the relationship between Columbia High mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Columbia High Yield.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Columbia High in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Columbia High's short interest history, or implied volatility extrapolated from Columbia High options trading.
Pair Trading with Columbia High
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Columbia High position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Columbia High will appreciate offsetting losses from the drop in the long position's value.Moving together with Columbia Mutual Fund
| 0.8 | CDAZX | Multi Manager Direct | PairCorr |
| 0.81 | CUURX | Columbia Small Cap | PairCorr |
| 0.94 | AMTCX | Columbia Capital All | PairCorr |
The ability to find closely correlated positions to Columbia High could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Columbia High when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Columbia High - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Columbia High Yield to buy it.
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Columbia High moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Columbia High Yield moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Columbia High can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Columbia High Correlation, Columbia High Volatility and Columbia High Alpha and Beta module to complement your research on Columbia High. You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Columbia High technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.