Gabelli Global Correlations

GGZ Stock

USD 12.29 0.04 0.32%

The current 90-days correlation between Gabelli Global Small and MFS Investment Grade is 0.3 (i.e., Weak diversification). The correlation of Gabelli Global 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 Global Correlation With Market

Poor diversification

The correlation between Gabelli Global Small and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Global Small 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 Global Small. 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

0.64	V	Visa Class A	Pair Corr
0.66	MA	Mastercard	Pair Corr
0.85	WSBF	Waterstone Financial	Pair Corr
0.8	SNFCA	Security National Earnings Call This Week	Pair Corr
0.61	APAM	Artisan Partners Asset	Pair Corr
0.61	BBDC	Barings BDC	Pair Corr
0.65	COOP	Mr Cooper Group	Pair Corr
0.72	AC	Associated Capital	Pair Corr
0.66	BK	Bank of New York	Pair Corr

Moving against Gabelli Stock

0.54	ORGN	Origin Materials	Pair Corr
0.46	EG	Everest Group	Pair Corr

Related Correlations Analysis

	CXH	IHTA	EOT	NXC	FMN	CBH	MHN	IHIT	JHAA
CXH		0.0	0.84	0.64	0.84	0.0	0.79	0.0	0.0	CXH
IHTA	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	IHTA
EOT	0.84	0.0		0.61	0.91	0.0	0.82	0.0	0.0	EOT
NXC	0.64	0.0	0.61		0.71	0.0	0.55	0.0	0.0	NXC
FMN	0.84	0.0	0.91	0.71		0.0	0.83	0.0	0.0	FMN
CBH	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CBH
MHN	0.79	0.0	0.82	0.55	0.83	0.0		0.0	0.0	MHN
IHIT	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	IHIT
JHAA	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		JHAA
	CXH	IHTA	EOT	NXC	FMN	CBH	MHN	IHIT	JHAA

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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

FMN	+ 0.91	EOT
EOT	+ 0.84	CXH
FMN	+ 0.84	CXH
MHN	+ 0.83	FMN
MHN	+ 0.82	EOT
MHN	+ 0.79	CXH

High negative correlations

JHAA	- 0.0	IHIT
JHAA	- 0.0	MHN
IHIT	- 0.0	MHN
JHAA	- 0.0	CBH
IHIT	- 0.0	CBH
MHN	- 0.0	CBH

Risk-Adjusted Indicators

There is a big difference between Gabelli Stock performing well and Gabelli Global 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 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
CXH	0.38	0.00	0.00	(0.11)	0.00	0.00	0.76	(1.00)	2.37
IHTA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EOT	0.47	(0.03)	0.00	(0.20)	0.00	0.00	1.01	(1.28)	2.87
NXC	0.36	0.01	0.13	(0.02)	0.43	(0.38)	0.78	(0.68)	1.98
FMN	0.45	(0.02)	0.00	(0.19)	0.00	0.00	0.81	(0.99)	3.01
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MHN	0.47	(0.02)	0.00	(0.18)	0.00	0.00	0.87	(1.06)	2.81
IHIT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JHAA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Gabelli Global Corporate Management

Christopher Hart	Assistant Vice President and Ombudsman	Profile
CFA CFA	Portfolio Mang	Profile
Mario CFA	Portfolio Mang	Profile
Kuni Nakamura	Nominee Independent Trustee	Profile
Bruce CPA	Ex Officer	Profile

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