The Gabelli Correlations

GAGCX Fund

USD 31.63 0.50 1.61%

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 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 Gabelli 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 Gabelli 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 The Mutual Fund

0.83	SRIGX	Gabelli Esg Fund	Pair Corr
0.86	GCFSX	Gabelli Global Financial	Pair Corr
0.79	GCIEX	Gabelli Equity	Pair Corr
0.88	GCIGX	Gamco International	Pair Corr
0.73	GUXPX	Gabelli Utilities	Pair Corr
0.69	MLGLX	Gabelli Media Mogul	Pair Corr
0.74	GEICX	Gabelli Equity Income	Pair Corr
0.69	GWSAX	Gabelli Focus	Pair Corr
0.67	GWSCX	Gabelli Focus	Pair Corr
0.7	GWSIX	Gabelli Focus	Pair Corr
0.68	GWSVX	Gabelli Focus	Pair Corr
0.86	GFSIX	Gabelli Global Financial	Pair Corr
0.86	GGFSX	Gabelli Global Financial	Pair Corr
0.91	GGLCX	Gamco Global Opportunity	Pair Corr
0.69	MOGLX	Gabelli Media Mogul	Pair Corr
0.88	GIIGX	Gamco International	Pair Corr
0.88	GIGRX	Gamco International	Pair Corr
0.81	GLDAX	Gabelli Gold Steady Growth	Pair Corr
0.77	GLDCX	Gabelli Gold Steady Growth	Pair Corr
0.77	GLDIX	Gabelli Gold Steady Growth	Pair Corr
0.91	GLOIX	Gamco Global Opportunity	Pair Corr
0.69	DRCVX	Comstock Capital Value	Pair Corr
0.69	COMVX	Comstock Capital Value	Pair Corr

Related Correlations Analysis

	BBSXX	JAMXX	FSNXX	ELBIX	FMFXX	QCMMIX	DTLXX
BBSXX		0.0	0.0	0.0	0.0	0.0	0.0	BBSXX
JAMXX	0.0		0.0	0.0	0.0	0.0	0.0	JAMXX
FSNXX	0.0	0.0		0.0	0.0	0.0	0.0	FSNXX
ELBIX	0.0	0.0	0.0		0.0	0.73	0.0	ELBIX
FMFXX	0.0	0.0	0.0	0.0		0.0	0.0	FMFXX
QCMMIX	0.0	0.0	0.0	0.73	0.0		0.0	QCMMIX
DTLXX	0.0	0.0	0.0	0.0	0.0	0.0		DTLXX
	BBSXX	JAMXX	FSNXX	ELBIX	FMFXX	QCMMIX	DTLXX

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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

QCMMIX	+ 0.73	ELBIX
JAMXX	+ 0.0	BBSXX
FSNXX	+ 0.0	BBSXX
ELBIX	+ 0.0	BBSXX
FMFXX	+ 0.0	BBSXX
QCMMIX	+ 0.0	BBSXX

High negative correlations

DTLXX	- 0.0	QCMMIX
DTLXX	- 0.0	FMFXX
QCMMIX	- 0.0	FMFXX
DTLXX	- 0.0	ELBIX
FMFXX	- 0.0	ELBIX
DTLXX	- 0.0	FSNXX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BBSXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JAMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FSNXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ELBIX	0.33	0.03	0.33	1.11	0.28	(0.43)	0.64	(0.48)	1.73
FMFXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QCMMIX	0.02	0.01	0.00	(2.68)	0.00	0.00	0.03	0.00	0.03
DTLXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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