Gabelli Equity Correlations

Mutual Funds . USA . 
Fund . The Gabelli Equity
GCIEX Fund  USD 7.45  0.04  0.53%   
The current 90-days correlation between Gabelli Equity and Western Asset Diversified is 0.4 (i.e., Very weak diversification). The correlation of Gabelli Equity 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 Equity Correlation With Market

Poor diversification

The correlation between The Gabelli Equity and DJI is 0.75 (i.e., Poor 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 Gabelli Mutual Fund

  0.99SRIGX Gabelli Esg FundPairCorr
  0.87GCFSX Gabelli Global FinancialPairCorr
  0.67GCIGX Gamco InternationalPairCorr
  0.73EMACX Enterprise Mergers AndPairCorr
  0.75EMAAX Enterprise Mergers AndPairCorr
  0.76EMAYX Enterprise Mergers AndPairCorr
  0.7GVCAX Gabelli ValuePairCorr
  0.7GVCCX Gabelli ValuePairCorr
  0.7GVCIX Gabelli ValPairCorr
  0.83MLGLX Gabelli Media MogulPairCorr
  0.81GEICX Gabelli Equity IncomePairCorr
  0.86GWSAX Gabelli FocusPairCorr
  0.86GWSCX Gabelli FocusPairCorr
  0.86GWSIX Gabelli FocusPairCorr
  0.86GWSVX Gabelli FocusPairCorr
  0.87GFSIX Gabelli Global FinancialPairCorr
  0.87GGFSX Gabelli Global FinancialPairCorr
  0.83MOGLX Gabelli Media MogulPairCorr
  0.66GIIGX Gamco InternationalPairCorr
  0.66GIGRX Gamco InternationalPairCorr
  0.75EAAAX Enterprise Mergers AndPairCorr
  0.71DRCVX Comstock Capital ValuePairCorr
  0.69COMVX Comstock Capital ValuePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli Equity 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 Equity'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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