Gabelli Convertible Correlations

Funds . USA . 
Fund . Gabelli Convertible And
GCV Fund  USD 4.01  0.03  0.75%   
The current 90-days correlation between Gabelli Convertible And and Gabelli Global Small is 0.09 (i.e., Significant diversification). The correlation of Gabelli Convertible 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 Convertible Correlation With Market

Average diversification

The correlation between Gabelli Convertible And and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Convertible And 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 Convertible And. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving against Gabelli Fund

  0.75TWN Taiwan ClosedPairCorr
  0.49LIGYX Loomis Sayles InternPairCorr
  0.32GAPIX Goldman Sachs EquityPairCorr

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   
IHTA
+ 0.93
CBH
CBH
+ 0.83
GGZ
GUT
+ 0.82
IHIT
IHTA
+ 0.81
GGZ
FMN
+ 0.69
EOT
EOT
+ 0.48
CXH
  
High negative correlations   
FMN
- 0.73
IHTA
FMN
- 0.73
CBH
GUT
- 0.58
CBH
GUT
- 0.56
IHTA
FMN
- 0.55
GGZ
GUT
- 0.54
GNT

Risk-Adjusted Indicators

There is a big difference between Gabelli Fund performing well and Gabelli Convertible 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 Convertible'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GGZ  0.60  0.03  0.00  0.15  0.62 
(0.68)
 1.20 
(1.26)
 4.71 
CXH  0.34  0.05 (0.17)(0.19) 0.40 
(0.38)
 0.86 
(0.74)
 2.10 
CBH  0.13  0.04 (0.38) 2.76  0.00 
(0.18)
 0.22 
(0.22)
 0.78 
EOT  0.37  0.03 (0.18)(2.41) 0.40 
(0.43)
 0.86 
(0.87)
 2.08 
GNT  0.83  0.00 (0.06) 0.12  0.93 
(1.03)
 1.71 
(1.98)
 5.15 
IHTA  0.24  0.05 (0.12) 1.25  0.25 
(0.31)
 0.68 
(0.27)
 2.03 
IHIT  0.46 (0.05) 0.00 (0.73) 0.00 
 0.00 
 1.07 
(1.18)
 2.70 
FMN  0.51 (0.04) 0.00  0.40  0.00 
 0.00 
 1.07 
(1.49)
 5.10 
DTF  0.23  0.01 (0.35)(0.09) 0.23 
(0.28)
 0.54 
(0.36)
 1.96 
GUT  0.88 (0.15) 0.00  0.68  0.00 
 0.00 
 2.08 
(1.95)
 9.38 

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