Gabelli Healthcare Correlations

GRX Stock

USD 9.93 0.13 1.29%

The current 90-days correlation between Gabelli Healthcare and GAMCO Natural Resources is -0.13 (i.e., Good diversification). The correlation of Gabelli Healthcare 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 Healthcare Correlation With Market

Very good diversification

The correlation between Gabelli Healthcare WellnessRx and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Healthcare WellnessRx 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 Healthcare WellnessRx. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Gabelli Stock

0.77	V	Visa Class A Sell-off Trend	Pair Corr
0.73	MA	Mastercard	Pair Corr
0.79	GDST	Goldenstone Acquisition	Pair Corr
0.73	OPFI	OppFi Inc	Pair Corr
0.7	SNFCA	Security National Earnings Call Today	Pair Corr
0.72	BBDC	Barings BDC	Pair Corr
0.74	COOP	Mr Cooper Group	Pair Corr
0.79	BK	Bank of New York Sell-off Trend	Pair Corr

Moving against Gabelli Stock

0.6	ORGN	Origin Materials	Pair Corr
0.57	CODI	Compass Diversified	Pair Corr
0.51	BITF	Bitfarms	Pair Corr
0.47	DHIL	Diamond Hill Investment	Pair Corr
0.38	PYPL	PayPal Holdings	Pair Corr
0.51	LC	LendingClub Corp	Pair Corr
0.38	EG	Everest Group	Pair Corr

Related Correlations Analysis

	GNT	GGZ	JHS	GGT	GCV	CXH	CBH	EOT	IHIT	JHAA
GNT		0.78	0.38	0.81	0.56	0.65	0.0	0.59	0.0	0.0	GNT
GGZ	0.78		0.37	0.8	0.73	0.56	0.0	0.57	0.0	0.0	GGZ
JHS	0.38	0.37		0.36	0.06	0.45	0.0	0.55	0.0	0.0	JHS
GGT	0.81	0.8	0.36		0.56	0.38	0.0	0.37	0.0	0.0	GGT
GCV	0.56	0.73	0.06	0.56		0.29	0.0	0.26	0.0	0.0	GCV
CXH	0.65	0.56	0.45	0.38	0.29		0.0	0.77	0.0	0.0	CXH
CBH	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CBH
EOT	0.59	0.57	0.55	0.37	0.26	0.77	0.0		0.0	0.0	EOT
IHIT	0.0	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	0.0		JHAA
	GNT	GGZ	JHS	GGT	GCV	CXH	CBH	EOT	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

GGT	+ 0.81	GNT
GGT	+ 0.8	GGZ
GGZ	+ 0.78	GNT
EOT	+ 0.77	CXH
GCV	+ 0.73	GGZ
CXH	+ 0.65	GNT

High negative correlations

JHAA	- 0.0	IHIT
JHAA	- 0.0	EOT
IHIT	- 0.0	EOT
JHAA	- 0.0	CBH
IHIT	- 0.0	CBH
EOT	- 0.0	CBH

Risk-Adjusted Indicators

There is a big difference between Gabelli Stock performing well and Gabelli Healthcare 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 Healthcare'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
GNT	0.64	0.17	0.18	0.65	0.66	(0.72)	1.54	(1.13)	3.93
GGZ	0.65	0.03	0.03	0.03	0.71	(0.77)	1.49	(1.36)	3.15
JHS	0.39	0.00	0.00	(0.04)	0.48	(0.41)	0.64	(0.91)	2.23
GGT	0.68	0.08	0.07	0.26	0.89	(0.87)	1.63	(1.92)	7.12
GCV	0.91	0.05	0.04	0.10	1.19	(1.00)	2.17	(2.14)	6.16
CXH	0.38	(0.01)	(0.01)	(0.08)	0.55	(0.37)	0.76	(0.98)	2.37
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EOT	0.47	(0.02)	0.00	0.35	0.00	0.00	1.01	(1.28)	2.87
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 Healthcare Corporate Management

Bruce Alpert	President	Profile
CFA CFA	Portfolio Mang	Profile
Mario CFA	Portfolio Mang	Profile
Kuni Nakamura	Independent Trustee	Profile
Bruce CPA	Ex Officer	Profile

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