Gabelli Dividend Correlations

GDV Fund

USD 25.59 0.29 1.15%

The current 90-days correlation between Gabelli Dividend Income and SCOR PK is -0.06 (i.e., Good diversification). The correlation of Gabelli Dividend 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 Dividend Correlation With Market

Poor diversification

The correlation between Gabelli Dividend Income and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Dividend Income 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 Dividend Income. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Gabelli Fund

0.62	WRHIX	Ivy High Income	Pair Corr
0.62	WHIAX	Ivy High Income	Pair Corr
0.66	IHIFX	Ivy High Income	Pair Corr
0.67	IVHIX	Ivy High Income	Pair Corr
0.95	AMEIX	Equity Growth	Pair Corr
0.92	GAPIX	Goldman Sachs Equity	Pair Corr
0.93	WWLAX	Westwood Largecap Value	Pair Corr
0.96	AMGIX	Income Growth	Pair Corr
0.95	VFINX	Vanguard 500 Index	Pair Corr
0.84	GAB	Gabelli Equity Trust	Pair Corr
0.95	VFIAX	Vanguard 500 Index	Pair Corr
0.93	MLMAX	Global E Portfolio	Pair Corr
0.62	LIGYX	Loomis Sayles Intern	Pair Corr
0.91	SAGAX	Ridgeworth Innovative	Pair Corr
0.89	TLCYX	Touchstone Large Cap	Pair Corr

Moving against Gabelli Fund

0.49	LIIAX	Columbia Porate Income	Pair Corr
0.47	SRINX	Columbia Porate Income	Pair Corr
0.45	CIFRX	Columbia Porate Income	Pair Corr

Related Correlations Analysis

	CXH	EVN	DTF	444859BR2	SCRYY	AQUI	APAAX	SCRYX	LBHIX	MSTSX
CXH		0.56	0.44	-0.1	0.39	0.0	0.81	0.04	0.53	0.28	CXH
EVN	0.56		-0.04	0.39	-0.33	0.0	0.7	-0.45	-0.03	-0.03	EVN
DTF	0.44	-0.04		-0.37	0.43	0.0	0.12	0.48	0.44	0.09	DTF
444859BR2	-0.1	0.39	-0.37		-0.53	0.0	0.06	-0.55	-0.54	-0.45	444859BR2
SCRYY	0.39	-0.33	0.43	-0.53		0.0	0.14	0.57	0.48	0.34	SCRYY
AQUI	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AQUI
APAAX	0.81	0.7	0.12	0.06	0.14	0.0		-0.12	0.49	0.25	APAAX
SCRYX	0.04	-0.45	0.48	-0.55	0.57	0.0	-0.12		0.67	0.61	SCRYX
LBHIX	0.53	-0.03	0.44	-0.54	0.48	0.0	0.49	0.67		0.68	LBHIX
MSTSX	0.28	-0.03	0.09	-0.45	0.34	0.0	0.25	0.61	0.68		MSTSX
	CXH	EVN	DTF	444859BR2	SCRYY	AQUI	APAAX	SCRYX	LBHIX	MSTSX

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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

APAAX	+ 0.81	CXH
APAAX	+ 0.7	EVN
MSTSX	+ 0.68	LBHIX
LBHIX	+ 0.67	SCRYX
MSTSX	+ 0.61	SCRYX
SCRYX	+ 0.57	SCRYY

High negative correlations

SCRYX	- 0.55	444859BR2
LBHIX	- 0.54	444859BR2
SCRYY	- 0.53	444859BR2
MSTSX	- 0.45	444859BR2
SCRYX	- 0.45	EVN
444859BR2	- 0.37	DTF

Risk-Adjusted Indicators

There is a big difference between Gabelli Fund performing well and Gabelli Dividend 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 Dividend'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
CXH	0.34	0.05	(0.17)	(0.19)	0.40	(0.38)	0.86	(0.74)	2.10
EVN	0.46	0.00	(0.19)	0.23	0.60	(0.51)	1.02	(1.05)	2.73
DTF	0.23	0.01	(0.35)	(0.09)	0.23	(0.28)	0.54	(0.36)	1.96
444859BR2	1.36	(0.08)	0.00	(0.21)	0.00	0.00	5.93	(5.79)	16.62
SCRYY	2.07	0.29	0.08	1.93	2.02	(2.85)	5.61	(4.09)	12.99
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
APAAX	0.14	0.02	(0.35)	(0.09)	0.15	(0.18)	0.31	(0.31)	1.13
SCRYX	0.95	(0.04)	0.02	0.09	0.91	(1.09)	2.10	(1.69)	7.88
LBHIX	0.12	0.01	(0.39)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
MSTSX	0.49	(0.03)	(0.12)	0.06	0.52	(0.61)	1.21	(1.02)	2.80

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