Gabelli Global Correlations

GCFSX Fund

USD 16.83 0.20 1.20%

The current 90-days correlation between Gabelli Global Financial and Small Pany Growth is -0.08 (i.e., Good diversification). The correlation of Gabelli 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.

Gabelli Global Correlation With Market

Good diversification

The correlation between Gabelli Global Financial and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Global Financial 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 Gabelli Global Financial. 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 state.

Moving together with Gabelli Mutual Fund

0.83	GCIEX	Gabelli Equity	Pair Corr
0.79	GCIGX	Gamco International	Pair Corr
0.81	GEICX	Gabelli Equity Income	Pair Corr
0.75	GWSIX	Gabelli Focus	Pair Corr
0.79	GIGRX	Gamco International	Pair Corr
0.81	GLDAX	Gabelli Gold	Pair Corr
0.78	GLDIX	Gabelli Gold	Pair Corr
0.86	CPCRX	Comstock Capital Value	Pair Corr
0.83	GABEX	Gabelli Equity	Pair Corr
0.79	GABOX	Gamco Global Opportunity	Pair Corr
0.77	GABTX	Gamco Global Telecom	Pair Corr
0.79	GAIGX	Gamco International	Pair Corr
0.92	GTCCX	Gamco Global Telecom	Pair Corr
0.86	SRICX	Gabelli Esg Fund	Pair Corr
0.61	PRISX	T Rowe Price	Pair Corr
0.86	DVFYX	Davis Financial	Pair Corr
0.78	RPFGX	Davis Financial	Pair Corr
0.77	DFFCX	Davis Financial	Pair Corr

Related Correlations Analysis

	MSSGX	GGRYX	TFAGX	PIGDX	PAGLX	UPDDX	EIPIX
MSSGX		0.4	0.82	-0.22	0.88	0.74	0.06	MSSGX
GGRYX	0.4		0.63	0.72	0.74	0.61	0.68	GGRYX
TFAGX	0.82	0.63		0.02	0.9	0.95	0.15	TFAGX
PIGDX	-0.22	0.72	0.02		0.12	0.01	0.65	PIGDX
PAGLX	0.88	0.74	0.9	0.12		0.86	0.34	PAGLX
UPDDX	0.74	0.61	0.95	0.01	0.86		0.22	UPDDX
EIPIX	0.06	0.68	0.15	0.65	0.34	0.22		EIPIX
	MSSGX	GGRYX	TFAGX	PIGDX	PAGLX	UPDDX	EIPIX

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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

UPDDX	+ 0.95	TFAGX
PAGLX	+ 0.9	TFAGX
PAGLX	+ 0.88	MSSGX
UPDDX	+ 0.86	PAGLX
TFAGX	+ 0.82	MSSGX
UPDDX	+ 0.74	MSSGX

High negative correlations

PIGDX

- 0.22

MSSGX

Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli 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 Gabelli 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MSSGX	1.80	(0.18)	0.00	(0.11)	0.00	0.00	3.81	(3.91)	9.53
GGRYX	0.54	(0.01)	(0.01)	(0.01)	0.76	(0.53)	1.01	(1.15)	3.13
TFAGX	1.02	(0.09)	0.00	0.54	0.00	0.00	1.73	(2.74)	5.37
PIGDX	0.82	0.05	0.04	0.08	1.13	(0.83)	1.84	(1.68)	7.09
PAGLX	0.76	(0.05)	0.00	(0.06)	0.00	0.00	1.27	(1.62)	4.65
UPDDX	2.03	(0.07)	0.00	0.17	0.00	0.00	3.22	(5.01)	15.30
EIPIX	0.83	0.01	0.01	0.03	1.68	(0.74)	1.68	(1.72)	7.26

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