Gamco Global Correlations

GOCAX Fund

USD 12.46 0.07 0.56%

The current 90-days correlation between Gamco Global Opportunity and The Gabelli Equity is 0.69 (i.e., Poor diversification). The correlation of Gamco 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.

Gamco Global Correlation With Market

Very weak diversification

The correlation between Gamco Global Opportunity and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gamco Global Opportunity 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 Opportunity. 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 Gamco Mutual Fund

0.79	GCFSX	Gabelli Global Financial	Pair Corr
0.82	GCIGX	Gamco International	Pair Corr
0.74	GUXPX	Gabelli Utilities	Pair Corr
0.81	GFSIX	Gabelli Global Financial	Pair Corr
0.8	GGFSX	Gabelli Global Financial	Pair Corr
1.0	GGLCX	Gamco Global Opportunity	Pair Corr
0.83	GIIGX	Gamco International	Pair Corr
0.83	GIGRX	Gamco International	Pair Corr
0.92	GLDAX	Gabelli Gold	Pair Corr
0.92	GLDCX	Gabelli Gold	Pair Corr
0.92	GLDIX	Gabelli Gold	Pair Corr
1.0	GLOIX	Gamco Global Opportunity	Pair Corr
0.78	DRCVX	Comstock Capital Value	Pair Corr
0.77	COMVX	Comstock Capital Value	Pair Corr

Moving against Gamco Mutual Fund

0.5	GGCAX	Gabelli Growth	Pair Corr
0.51	GGCCX	Gabelli Growth	Pair Corr
0.5	GGCIX	Gabelli Growth	Pair Corr
0.44	GGMMX	Gabelli Global Mini	Pair Corr
0.44	GMNAX	Gabelli Global Mini	Pair Corr
0.5	GABGX	Gabelli Growth	Pair Corr
0.44	GMNCX	Gabelli Global Mini	Pair Corr

Related Correlations Analysis

	GCIEX	GLDCX	GLDIX	GCTEX	GLOIX	EMACX	EMAAX	EMAYX	GUXPX
GCIEX		0.52	0.52	0.0	0.52	0.74	0.75	0.76	0.33	GCIEX
GLDCX	0.52		1.0	0.0	0.92	0.32	0.35	0.39	0.57	GLDCX
GLDIX	0.52	1.0		0.0	0.92	0.32	0.35	0.39	0.57	GLDIX
GCTEX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	GCTEX
GLOIX	0.52	0.92	0.92	0.0		0.37	0.41	0.44	0.73	GLOIX
EMACX	0.74	0.32	0.32	0.0	0.37		1.0	1.0	0.44	EMACX
EMAAX	0.75	0.35	0.35	0.0	0.41	1.0		1.0	0.46	EMAAX
EMAYX	0.76	0.39	0.39	0.0	0.44	1.0	1.0		0.48	EMAYX
GUXPX	0.33	0.57	0.57	0.0	0.73	0.44	0.46	0.48		GUXPX
	GCIEX	GLDCX	GLDIX	GCTEX	GLOIX	EMACX	EMAAX	EMAYX	GUXPX

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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

GLDIX	+ 1.0	GLDCX
EMAAX	+ 1.0	EMACX
EMAYX	+ 1.0	EMACX
EMAYX	+ 1.0	EMAAX
GLOIX	+ 0.92	GLDCX
GLOIX	+ 0.92	GLDIX

High negative correlations

GUXPX	- 0.0	GCTEX
EMAYX	- 0.0	GCTEX
EMAAX	- 0.0	GCTEX
EMACX	- 0.0	GCTEX
GLOIX	- 0.0	GCTEX
GCTEX	- 0.0	GLDIX

Risk-Adjusted Indicators

There is a big difference between Gamco Mutual Fund performing well and Gamco Global 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 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
GCIEX	0.65	0.01	0.00	(0.02)	0.00	0.00	1.21	(1.32)	3.36
GLDCX	1.10	0.31	0.21	0.77	1.14	(1.17)	2.82	(2.46)	6.42
GLDIX	1.11	0.31	0.21	0.78	1.14	(1.18)	2.85	(2.47)	6.38
GCTEX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GLOIX	0.60	0.10	0.12	0.16	0.75	(0.65)	1.66	(1.89)	4.72
EMACX	0.57	(0.01)	0.00	(0.06)	0.00	0.00	0.93	(1.34)	3.45
EMAAX	0.58	(0.01)	0.00	(0.05)	0.00	0.00	0.96	(1.30)	3.53
EMAYX	0.57	0.00	0.00	(0.04)	0.00	0.00	0.92	(1.31)	3.58
GUXPX	0.75	(0.01)	0.02	0.08	1.36	(0.69)	1.45	(1.75)	6.42

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