The Gabelli Correlations

GATAX Fund  USD 45.21  0.24  0.53%   
The current 90-days correlation between Gabelli Asset and Avantis Large Cap is 0.44 (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

Very weak diversification

The correlation between The Gabelli Asset and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Asset 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 Asset. 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 nation.

Moving together with The Mutual Fund

  0.74GVCCX Gabelli ValuePairCorr
  0.74GVCIX Gabelli ValPairCorr
  0.65GGCIX Gabelli GrowthPairCorr
  0.73GGMMX Gabelli Global MiniPairCorr
  0.73GMNAX Gabelli Global MiniPairCorr
  0.73GMNCX Gabelli Global MiniPairCorr

Related Correlations Analysis

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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   
SBQAXALCEX
LTFOXALCEX
PAFDXLTFOX
GMLVXCMIFX
GVALXLTFOX
PAFDXGMLVX
  
High negative correlations   
SBQAXCMIFX
CMIFXALCEX
SBQAXGMLVX
GMLVXALCEX
CBLSXCMIFX

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.