The Gabelli Correlations

GABSX Fund

USD 41.26 0.44 1.06%

The current 90-days correlation between Gabelli Small and The Gabelli Asset is 0.52 (i.e., Very weak diversification). The correlation of The Gabelli 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.

The Gabelli Correlation With Market

Poor diversification

The correlation between The Gabelli Small and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Small and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in The Gabelli Small. 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 state.

Moving together with The Mutual Fund

0.62	EMACX	Enterprise Mergers And	Pair Corr
0.86	GGCAX	Gabelli Growth	Pair Corr
0.86	GGCCX	Gabelli Growth	Pair Corr
0.86	GGCIX	Gabelli Growth	Pair Corr
0.93	GGGAX	Gamco Global Growth	Pair Corr
0.93	GGGCX	Gamco Global Growth	Pair Corr
0.93	GGGIX	Gamco Global Growth	Pair Corr
0.81	GGMMX	Gabelli Global Mini	Pair Corr
0.93	GICPX	Gamco Global Growth	Pair Corr
0.81	GMNAX	Gabelli Global Mini	Pair Corr
0.81	GMNCX	Gabelli Global Mini	Pair Corr

Moving against The Mutual Fund

0.37	GGLCX	Gamco Global Opportunity	Pair Corr
0.37	GLOIX	Gamco Global Opportunity	Pair Corr
0.36	GLDAX	Gabelli Gold	Pair Corr
0.36	GLDCX	Gabelli Gold	Pair Corr
0.36	GLDIX	Gabelli Gold	Pair Corr
0.37	GOCAX	Gamco Global Opportunity	Pair Corr
0.37	GABOX	Gamco Global Opportunity	Pair Corr

Related Correlations Analysis

	GABAX	GABEX	GABGX	PRBLX	GABTX
GABAX		0.15	0.71	0.36	0.43	GABAX
GABEX	0.15		0.24	0.74	0.78	GABEX
GABGX	0.71	0.24		0.77	0.23	GABGX
PRBLX	0.36	0.74	0.77		0.48	PRBLX
GABTX	0.43	0.78	0.23	0.48		GABTX
	GABAX	GABEX	GABGX	PRBLX	GABTX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Gabelli 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 The Gabelli'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
GABAX	0.86	(0.19)	(0.27)	1.25	(1.70)	14.32
GABEX	0.64	0.01	(0.05)	1.16	(1.31)	3.31
GABGX	1.25	(0.14)	(0.20)	2.14	(3.32)	8.26
PRBLX	0.75	(0.02)	(0.09)	1.30	(1.55)	3.65
GABTX	0.65	(0.02)	(0.09)	1.34	(1.87)	4.09

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