Gabelli Healthcare Correlations

GRX Stock

USD 9.95 0.06 0.61%

The current 90-days correlation between Gabelli Healthcare and GAMCO Natural Resources is 0.28 (i.e., Modest 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 weak diversification

The correlation between Gabelli Healthcare WellnessRx and DJI is 0.56 (i.e., Very weak 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

0.63	BEN	Franklin Resources	Pair Corr
0.66	COF	Capital One Financial	Pair Corr
0.78	IVZ	Invesco Plc	Pair Corr
0.7	JHG	Janus Henderson Group	Pair Corr
0.7	NMFC	New Mountain Finance	Pair Corr
0.82	NTRS	Northern Trust	Pair Corr
0.87	ALLY	Ally Financial	Pair Corr
0.66	APAM	Artisan Partners Asset	Pair Corr
0.64	TCPC	BlackRock TCP Capital	Pair Corr
0.76	TPVG	Triplepoint Venture Earnings Call This Week	Pair Corr
0.63	BK	Bank of New York	Pair Corr
0.83	BN	Brookfield Corp	Pair Corr

Moving against Gabelli Stock

0.37

LendingClub Corp

Pair Corr

Related Correlations Analysis

	GNT	GGZ	JHS	GGT	GCV	CXH	CBH	EOT	IHIT	JHAA
GNT		0.62	0.17	0.71	0.65	0.63	0.0	0.65	0.0	0.0	GNT
GGZ	0.62		0.69	0.59	0.72	0.79	0.0	0.86	0.0	0.0	GGZ
JHS	0.17	0.69		0.19	0.32	0.68	0.0	0.77	0.0	0.0	JHS
GGT	0.71	0.59	0.19		0.63	0.48	0.0	0.47	0.0	0.0	GGT
GCV	0.65	0.72	0.32	0.63		0.59	0.0	0.61	0.0	0.0	GCV
CXH	0.63	0.79	0.68	0.48	0.59		0.0	0.89	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	0.65	0.86	0.77	0.47	0.61	0.89	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

EOT	+ 0.89	CXH
EOT	+ 0.86	GGZ
CXH	+ 0.79	GGZ
EOT	+ 0.77	JHS
GCV	+ 0.72	GGZ
GGT	+ 0.71	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	0.75	0.06	0.05	0.11	1.14	(0.74)	1.42	(1.65)	5.29
GGZ	0.65	(0.02)	0.00	(0.05)	0.00	0.00	1.37	(1.52)	3.57
JHS	0.39	0.01	0.05	0.01	0.44	(0.43)	0.64	(0.80)	1.78
GGT	0.69	0.06	0.06	0.15	0.95	(0.82)	1.66	(1.84)	7.01
GCV	0.90	0.01	0.01	(0.01)	1.14	(0.97)	1.83	(1.55)	5.96
CXH	0.43	0.00	0.03	0.01	0.68	(0.40)	0.76	(1.01)	3.44
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EOT	0.48	0.02	0.05	0.10	0.75	(0.44)	1.01	(1.01)	2.89
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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