The Gabelli Correlations

GAUIX Fund

USD 5.86 0.05 0.85%

The current 90-days correlation between Gabelli Utilities and Msift High Yield is 0.27 (i.e., Modest 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

Weak diversification

The correlation between The Gabelli Utilities and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Utilities 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 Utilities. 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 gross domestic product.

Moving together with The Mutual Fund

0.76	ED	Consolidated Edison	Pair Corr
0.75	ES	Eversource Energy	Pair Corr
0.85	HE	Hawaiian Electric	Pair Corr
0.65	NI	NiSource	Pair Corr
0.75	SO	Southern	Pair Corr
0.71	SR	Spire Inc	Pair Corr
0.78	DUKB	Duke Energy Corp	Pair Corr
0.68	CMS-PB	Consumers Energy	Pair Corr
0.64	ELPC	Companhia Paranaense	Pair Corr
0.67	ENIC	Enel Chile SA	Pair Corr
0.72	EVRG	Evergy,	Pair Corr
0.78	WTRG	Essential Utilities	Pair Corr
0.69	AEE	Ameren Corp	Pair Corr
0.66	AEP	American Electric Power	Pair Corr
0.71	AQN	Algonquin Power Utilities	Pair Corr
0.76	ATO	Atmos Energy	Pair Corr
0.74	AVA	Avista	Pair Corr
0.76	AWK	American Water Works	Pair Corr
0.61	AWR	American States Water	Pair Corr
0.87	BKH	Black Hills	Pair Corr
0.66	CIG	Companhia Energetica	Pair Corr
0.77	CMS	CMS Energy	Pair Corr
0.79	CNP	CenterPoint Energy	Pair Corr
0.8	CPK	Chesapeake Utilities	Pair Corr
0.8	CWT	California Water Service	Pair Corr
0.75	DTE	DTE Energy	Pair Corr

Moving against The Mutual Fund

0.45	RNWWW	ReNew Energy Global	Pair Corr
0.42	ELLO	Ellomay Capital Earnings Call This Week	Pair Corr
0.38	BIP	Brookfield Infrastructure	Pair Corr
0.38	CEG	Constellation Energy Corp	Pair Corr
0.75	NFE	New Fortress Energy Buyout Trend	Pair Corr
0.57	XIFR	XPLR Infrastructure Symbol Change	Pair Corr

Related Correlations Analysis

	MRHYX	DIHRX	ARTFX	BXHCX	JCTFX	ABTHX	VRHYX
MRHYX		0.75	0.91	0.96	0.87	0.74	0.95	MRHYX
DIHRX	0.75		0.83	0.8	0.83	0.77	0.79	DIHRX
ARTFX	0.91	0.83		0.98	0.92	0.81	0.97	ARTFX
BXHCX	0.96	0.8	0.98		0.93	0.83	0.99	BXHCX
JCTFX	0.87	0.83	0.92	0.93		0.96	0.93	JCTFX
ABTHX	0.74	0.77	0.81	0.83	0.96		0.83	ABTHX
VRHYX	0.95	0.79	0.97	0.99	0.93	0.83		VRHYX
	MRHYX	DIHRX	ARTFX	BXHCX	JCTFX	ABTHX	VRHYX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
MRHYX	0.12	0.00	0.28	(0.07)	0.14	(0.17)	0.24	(0.24)	0.95
DIHRX	0.60	0.10	0.16	0.13	0.68	(0.69)	1.51	(1.19)	3.80
ARTFX	0.13	0.01	0.34	0.02	0.09	(0.20)	0.44	(0.22)	0.89
BXHCX	0.13	0.00	0.26	(0.03)	0.14	(0.19)	0.37	(0.37)	1.00
JCTFX	0.24	0.00	0.13	(0.05)	0.33	(0.30)	0.43	(0.56)	2.30
ABTHX	0.24	(0.01)	0.12	(0.26)	0.34	(0.31)	0.49	(0.59)	1.64
VRHYX	0.15	0.00	0.21	(0.02)	0.15	(0.33)	0.26	(0.26)	1.30

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC