The Gabelli Correlations

Mutual Funds . USA . 
Fund . The Gabelli Equity
GCAEX Fund  USD 5.91  0.03  0.51%   
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

Significant diversification

The correlation between The Gabelli Equity and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Equity 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 Equity. 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 income.

Moving together with The Mutual Fund

  0.99SRIGX Gabelli Esg FundPairCorr
  0.79GCFSX Gabelli Global FinancialPairCorr
  1.0GCIEX Gabelli EquityPairCorr
  0.82EMACX Enterprise Mergers AndPairCorr
  0.83EMAAX Enterprise Mergers AndPairCorr
  0.83EMAYX Enterprise Mergers AndPairCorr
  0.85GVCAX Gabelli ValuePairCorr
  0.85GVCCX Gabelli ValuePairCorr
  0.85GVCIX Gabelli ValPairCorr
  0.83MLGLX Gabelli Media MogulPairCorr
  0.92GEICX Gabelli Equity IncomePairCorr
  0.85GWSAX Gabelli FocusPairCorr
  0.85GWSCX Gabelli FocusPairCorr
  0.85GWSIX Gabelli FocusPairCorr
  0.85GWSVX Gabelli FocusPairCorr
  0.87GFSIX Gabelli Global FinancialPairCorr
  0.87GGFSX Gabelli Global FinancialPairCorr
  0.83MOGLX Gabelli Media MogulPairCorr
  0.68GIIGX Gamco InternationalPairCorr
  0.68GIGRX Gamco InternationalPairCorr
  0.83EAAAX Enterprise Mergers AndPairCorr
  0.74DRCVX Comstock Capital ValuePairCorr
  0.71COMVX Comstock Capital ValuePairCorr

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   
PCNTX
+ 0.95
XAVKX
LCFYX
+ 0.94
XAVKX
PCNTX
+ 0.9
LCFYX
PCNTX
+ 0.89
CCD
CCD
+ 0.83
XAVKX
CCD
+ 0.73
LCFYX
  
High negative correlations   
CCD
- 0.66
ARBOX
PCNTX
- 0.52
ARBOX
ARBOX
- 0.35
XAVKX
LCFYX
- 0.12
ARBOX

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.

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