Gamco Global Correlations

GACCX Fund

USD 26.33 0.17 0.64%

The current 90-days correlation between Gamco Global and Touchstone Small Cap is 0.79 (i.e., Poor diversification). The correlation of Gamco Global 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.

Gamco Global Correlation With Market

Poor diversification

The correlation between The Gamco Global and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gamco Global 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 Gamco Global. 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 main economic indicators.

Moving together with Gamco Mutual Fund

0.74	SRIGX	Gabelli Esg Fund	Pair Corr
0.88	GCFSX	Gabelli Global Financial	Pair Corr
0.71	GCIEX	Gabelli Equity	Pair Corr
0.84	GCIGX	Gamco International	Pair Corr
0.71	GUXPX	Gabelli Utilities	Pair Corr
0.65	GEICX	Gabelli Equity Income	Pair Corr
0.7	GWSIX	Gabelli Focus	Pair Corr
0.82	GFSIX	Gabelli Global Financial	Pair Corr
0.79	GGFSX	Gabelli Global Financial	Pair Corr
0.93	GGLCX	Gamco Global Opportunity	Pair Corr
0.83	GIIGX	Gamco International	Pair Corr
0.88	GIGRX	Gamco International	Pair Corr
0.87	GLDAX	Gabelli Gold	Pair Corr
0.85	GLDCX	Gabelli Gold	Pair Corr
0.85	GLDIX	Gabelli Gold	Pair Corr
0.93	GLOIX	Gamco Global Opportunity	Pair Corr
0.74	DRCVX	Comstock Capital Value	Pair Corr
0.71	COMVX	Comstock Capital Value	Pair Corr

Moving against Gamco Mutual Fund

0.38	GGCAX	Gabelli Growth	Pair Corr
0.38	GGCCX	Gabelli Growth	Pair Corr
0.37	GGCIX	Gabelli Growth	Pair Corr
0.38	GABGX	Gabelli Growth	Pair Corr
0.32	GMNCX	Gabelli Global Mini	Pair Corr

Related Correlations Analysis

	TVOYX	LMBMX	MSSGX	DFUKX	ANTMX	QSERX	PEVAX
TVOYX		0.96	0.89	-0.12	0.47	0.88	0.78	TVOYX
LMBMX	0.96		0.95	-0.14	0.37	0.94	0.83	LMBMX
MSSGX	0.89	0.95		-0.1	0.38	0.85	0.69	MSSGX
DFUKX	-0.12	-0.14	-0.1		0.66	0.01	0.09	DFUKX
ANTMX	0.47	0.37	0.38	0.66		0.39	0.42	ANTMX
QSERX	0.88	0.94	0.85	0.01	0.39		0.94	QSERX
PEVAX	0.78	0.83	0.69	0.09	0.42	0.94		PEVAX
	TVOYX	LMBMX	MSSGX	DFUKX	ANTMX	QSERX	PEVAX

Click cells to compare fundamentals

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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

LMBMX	+ 0.96	TVOYX
MSSGX	+ 0.95	LMBMX
QSERX	+ 0.94	LMBMX
PEVAX	+ 0.94	QSERX
MSSGX	+ 0.89	TVOYX
QSERX	+ 0.88	TVOYX

High negative correlations

DFUKX	- 0.14	LMBMX
DFUKX	- 0.12	TVOYX
DFUKX	- 0.1	MSSGX

Risk-Adjusted Indicators

There is a big difference between Gamco Mutual Fund performing well and Gamco Global 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 Gamco Global'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
TVOYX	0.84	(0.10)	(0.17)	1.43	(1.95)	4.01
LMBMX	1.05	(0.16)	(0.20)	1.96	(2.70)	5.60
MSSGX	1.79	(0.09)	(0.14)	3.70	(3.91)	10.50
DFUKX	0.79	(0.03)	0.08	1.96	(2.04)	6.05
ANTMX	0.73	(0.03)	0.21	1.48	(1.52)	5.64
QSERX	1.15	(0.23)	(0.21)	1.83	(2.52)	12.07
PEVAX	1.08	(0.37)	(0.61)	1.42	(2.36)	15.37

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