Gabelli Gold Correlations

GLDAX Fund

USD 26.09 0.25 0.95%

The correlation of Gabelli Gold 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 Gold Correlation With Market

Modest diversification

The correlation between Gabelli Gold Fund and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Gold Fund 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 Gold Fund. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Gabelli Mutual Fund

0.81	GCFSX	Gabelli Global Financial	Pair Corr
0.69	GCIGX	Gamco International	Pair Corr
0.82	GFSIX	Gabelli Global Financial	Pair Corr
0.91	GGLCX	Gamco Global Opportunity	Pair Corr
0.69	GIIGX	Gamco International	Pair Corr
0.69	GIGRX	Gamco International	Pair Corr
1.0	GLDCX	Gabelli Gold	Pair Corr
1.0	GLDIX	Gabelli Gold	Pair Corr
0.91	GLOIX	Gamco Global Opportunity	Pair Corr
0.88	DRCVX	Comstock Capital Value	Pair Corr
0.89	COMVX	Comstock Capital Value	Pair Corr
0.91	GOCAX	Gamco Global Opportunity	Pair Corr
0.88	CPCRX	Comstock Capital Value	Pair Corr
0.87	CPCCX	Comstock Capital Value	Pair Corr
1.0	GOLDX	Gabelli Gold	Pair Corr
0.85	GACCX	Gamco Global	Pair Corr

Moving against Gabelli Mutual Fund

0.56	GGCAX	Gabelli Growth	Pair Corr
0.56	GGCIX	Gabelli Growth	Pair Corr
0.56	GABGX	Gabelli Growth	Pair Corr
0.53	GMNCX	Gabelli Global Mini	Pair Corr
0.53	GAMNX	Gabelli Global Mini	Pair Corr
0.36	GACIX	Gabelli Small	Pair Corr
0.36	GABSX	Gabelli Small	Pair Corr
0.35	GABAX	Gabelli Asset	Pair Corr
0.35	GABBX	Gabelli Dividend	Pair Corr
0.35	GATAX	Gabelli Asset	Pair Corr
0.35	GATCX	Gabelli Asset	Pair Corr
0.34	GABIX	Gabelli Asset	Pair Corr

Related Correlations Analysis

	AEYXX	FNPIX	DVFYX	SMAAX	HUCXX	HEWXX	0P000070L2
AEYXX		0.0	0.0	0.0	0.0	0.0	0.0	AEYXX
FNPIX	0.0		0.95	0.45	0.0	0.0	0.0	FNPIX
DVFYX	0.0	0.95		0.55	0.0	0.0	0.0	DVFYX
SMAAX	0.0	0.45	0.55		0.0	0.0	0.0	SMAAX
HUCXX	0.0	0.0	0.0	0.0		0.0	0.0	HUCXX
HEWXX	0.0	0.0	0.0	0.0	0.0		0.0	HEWXX
0P000070L2	0.0	0.0	0.0	0.0	0.0	0.0		0P000070L2
	AEYXX	FNPIX	DVFYX	SMAAX	HUCXX	HEWXX	0P000070L2

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

DVFYX	+ 0.95	FNPIX
SMAAX	+ 0.55	DVFYX
SMAAX	+ 0.45	FNPIX
FNPIX	+ 0.0	AEYXX
DVFYX	+ 0.0	AEYXX
SMAAX	+ 0.0	AEYXX

High negative correlations

0P000070L2	- 0.0	HEWXX
0P000070L2	- 0.0	HUCXX
HEWXX	- 0.0	HUCXX
0P000070L2	- 0.0	SMAAX
HEWXX	- 0.0	SMAAX
HUCXX	- 0.0	SMAAX

Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli Gold Mutual 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 Gold'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
AEYXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FNPIX	1.23	0.06	0.00	(0.02)	0.00	0.00	2.08	(3.48)	9.08
DVFYX	0.83	0.07	0.06	0.01	1.31	(0.78)	1.65	(2.39)	6.47
SMAAX	0.13	(0.01)	0.00	(0.61)	0.00	0.00	0.20	(0.39)	0.90
HUCXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HEWXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
0P000070L2	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC