Gabelli MultiMedia Correlations

GGT Stock

USD 4.96 0.05 1.02%

The current 90-days correlation between Gabelli MultiMedia Mutual and Gabelli Healthcare WellnessRx is 0.36 (i.e., Weak diversification). The correlation of Gabelli MultiMedia 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 MultiMedia Correlation With Market

Average diversification

The correlation between Gabelli MultiMedia Mutual and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli MultiMedia Mutual 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 MultiMedia Mutual. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Gabelli Stock

0.75	RC	Ready Capital Corp	Pair Corr
0.62	BRKHU	BurTech Acquisition Corp	Pair Corr

Moving against Gabelli Stock

0.58	DYCQ	DT Cloud Acquisition	Pair Corr
0.38	MA	Mastercard	Pair Corr
0.35	TETEU	Technology Telecommunicatio	Pair Corr
0.79	WAVS	Western Acquisition	Pair Corr
0.62	EVGR	Evergreen Corp	Pair Corr
0.59	WAVSU	Western Acquisition	Pair Corr
0.52	ANSCW	Agriculture Natural	Pair Corr
0.5	ESHA	ESH Acquisition Corp	Pair Corr
0.48	DISTR	Distoken Acquisition	Pair Corr
0.75	SCM	Stellus Capital Inve	Pair Corr
0.47	GAIN	Gladstone Investment	Pair Corr

Related Correlations Analysis

	GAB	GRX	GCV	GDV	GNT	GGZ	JHS	IHTA	IHIT
GAB		-0.54	0.28	0.84	0.1	0.86	-0.29	0.66	-0.2	GAB
GRX	-0.54		-0.13	-0.58	0.16	-0.62	0.69	-0.79	0.17	GRX
GCV	0.28	-0.13		-0.07	-0.53	-0.09	-0.2	-0.07	0.57	GCV
GDV	0.84	-0.58	-0.07		0.39	0.96	-0.2	0.78	-0.45	GDV
GNT	0.1	0.16	-0.53	0.39		0.32	0.45	0.14	-0.53	GNT
GGZ	0.86	-0.62	-0.09	0.96	0.32		-0.26	0.81	-0.5	GGZ
JHS	-0.29	0.69	-0.2	-0.2	0.45	-0.26		-0.44	0.06	JHS
IHTA	0.66	-0.79	-0.07	0.78	0.14	0.81	-0.44		-0.53	IHTA
IHIT	-0.2	0.17	0.57	-0.45	-0.53	-0.5	0.06	-0.53		IHIT
	GAB	GRX	GCV	GDV	GNT	GGZ	JHS	IHTA	IHIT

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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

GGZ	+ 0.96	GDV
GGZ	+ 0.86	GAB
GDV	+ 0.84	GAB
IHTA	+ 0.81	GGZ
IHTA	+ 0.78	GDV
JHS	+ 0.69	GRX

High negative correlations

IHTA	- 0.79	GRX
GGZ	- 0.62	GRX
GDV	- 0.58	GRX
GRX	- 0.54	GAB
IHIT	- 0.53	IHTA
IHIT	- 0.53	GNT

Risk-Adjusted Indicators

There is a big difference between Gabelli Stock performing well and Gabelli MultiMedia Company 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 MultiMedia'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
GAB	0.63	0.01	(0.01)	0.13	0.79	(0.66)	1.25	(1.29)	3.28
GRX	0.56	(0.10)	0.00	(0.39)	0.00	0.00	1.11	(1.47)	3.30
GCV	0.89	0.07	(0.01)	0.37	1.24	(0.91)	1.87	(1.80)	7.45
GDV	0.51	0.03	(0.02)	0.16	0.43	(0.58)	1.02	(0.97)	2.97
GNT	0.83	0.00	(0.06)	0.12	0.93	(1.03)	1.71	(1.98)	5.15
GGZ	0.60	0.03	0.00	0.15	0.62	(0.68)	1.20	(1.26)	4.71
JHS	0.30	(0.02)	(0.23)	0.03	0.40	(0.34)	0.78	(0.61)	3.04
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

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