Gamco Global Correlations

GGN Fund

USD 4.34 0.05 1.17%

The current 90-days correlation between Gamco Global and Eaton Vance National is 0.26 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Gamco Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gamco Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Gamco Global Correlation With Market

Weak diversification

The correlation between Gamco Global and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gamco Global 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 Gamco Global. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Gamco Fund

0.74	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.71	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.7	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.73	LSHUX	Horizon Spin Off	Pair Corr
0.73	LSHEX	Kinetics Spin Off	Pair Corr
0.66	ATFIX	Invesco Limited Term	Pair Corr
0.9	IBRFX	Invesco Balanced Risk	Pair Corr
0.74	BYMMX	Bny Mellon Porate	Pair Corr
0.81	PPYAX	Pimco Rae Fundamental	Pair Corr
0.68	TEPCX	American Funds Tax	Pair Corr
0.76	PYCEX	Payden Emerging Markets	Pair Corr
0.69	MDDVX	Blackrock Equity Dividend	Pair Corr
0.63	JVCNX	John Hancock Variable	Pair Corr
0.76	GAGCX	Gabelli Global	Pair Corr
0.78	LDLFX	Lord Abbett Short	Pair Corr
0.74	QUSRX	Pear Tree Polaris	Pair Corr
0.67	DFEMX	Emerging Markets Por	Pair Corr
0.77	KGIIX	Kopernik International	Pair Corr
0.85	RTNAX	Tax-managed International	Pair Corr
0.82	FEUSX	Federated Government	Pair Corr
0.7	HWDTX	Hartford World	Pair Corr
0.61	PGYXX	Pimco Funds	Pair Corr
0.62	CFBNX	Bond Fund	Pair Corr
0.81	FHCOX	Federated Hermes Con	Pair Corr
0.76	TAVFX	Third Avenue Value	Pair Corr
0.77	IEQAX	Icon Equity Income	Pair Corr
0.79	FEUGX	Federated Adjustable Rate	Pair Corr
0.8	PUDAX	Prudential Real Assets	Pair Corr
0.84	PIPCX	Pimco International	Pair Corr
0.84	PFIAX	Pimco Floating Income	Pair Corr
0.82	BROIX	Blackrock Glbl Opprtnts	Pair Corr
0.84	DILRX	Dfa International	Pair Corr
0.78	GHTMX	Goldman Sachs Intern	Pair Corr

Moving against Gamco Fund

0.67	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.59	SMPIX	Semiconductor Ultrasector	Pair Corr

Related Correlations Analysis

	GGZ	GCV	CXH	CBH	EOT	GGT	GAB	GRX	GDV	EHI
GGZ		0.6	0.62	0.0	0.75	0.64	0.7	0.71	0.56	0.29	GGZ
GCV	0.6		0.38	0.0	0.44	0.48	0.7	0.56	0.75	0.44	GCV
CXH	0.62	0.38		0.0	0.87	0.43	0.62	0.64	0.41	0.54	CXH
CBH	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CBH
EOT	0.75	0.44	0.87	0.0		0.45	0.68	0.55	0.48	0.46	EOT
GGT	0.64	0.48	0.43	0.0	0.45		0.71	0.79	0.5	0.64	GGT
GAB	0.7	0.7	0.62	0.0	0.68	0.71		0.75	0.73	0.72	GAB
GRX	0.71	0.56	0.64	0.0	0.55	0.79	0.75		0.65	0.7	GRX
GDV	0.56	0.75	0.41	0.0	0.48	0.5	0.73	0.65		0.59	GDV
EHI	0.29	0.44	0.54	0.0	0.46	0.64	0.72	0.7	0.59		EHI
	GGZ	GCV	CXH	CBH	EOT	GGT	GAB	GRX	GDV	EHI

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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

EOT	+ 0.87	CXH
GRX	+ 0.79	GGT
EOT	+ 0.75	GGZ
GDV	+ 0.75	GCV
GRX	+ 0.75	GAB
GDV	+ 0.73	GAB

High negative correlations

EHI	- 0.0	CBH
GDV	- 0.0	CBH
GRX	- 0.0	CBH
GAB	- 0.0	CBH
GGT	- 0.0	CBH
EOT	- 0.0	CBH

Risk-Adjusted Indicators

There is a big difference between Gamco Fund performing well and Gamco Global 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 Gamco 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
GGZ	0.70	(0.09)	0.00	1.16	0.00	0.00	1.49	(1.54)	3.62
GCV	0.94	0.00	0.00	(0.10)	0.00	0.00	2.17	(2.14)	6.16
CXH	0.42	(0.04)	0.00	(0.51)	0.00	0.00	0.76	(1.01)	2.56
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EOT	0.47	(0.05)	0.00	(0.34)	0.00	0.00	1.01	(1.28)	2.87
GGT	0.65	0.06	0.11	0.11	0.93	(0.81)	1.35	(1.92)	7.12
GAB	0.70	0.02	0.00	(0.06)	0.00	0.00	1.54	(1.64)	5.26
GRX	0.62	(0.05)	0.00	0.15	0.00	0.00	1.35	(1.12)	2.74
GDV	0.70	0.02	0.00	(0.07)	0.00	0.00	1.44	(1.29)	3.72
EHI	0.46	0.05	0.22	0.11	0.46	(0.56)	0.91	(0.77)	3.66

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