Gabelli Utilities Correlations

GUXPX Fund

5.71 0.05 0.87%

The current 90-days correlation between Gabelli Utilities and Federated International Leaders is 0.12 (i.e., Average diversification). The correlation of Gabelli Utilities 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 Utilities Correlation With Market

Significant diversification

The correlation between Gabelli Utilities and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Utilities 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 Utilities. 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 american community survey.

Moving together with Gabelli Mutual Fund

0.67	ED	Consolidated Edison	Pair Corr
0.64	ES	Eversource Energy	Pair Corr
0.77	HE	Hawaiian Electric	Pair Corr
0.64	SO	Southern	Pair Corr
0.7	DUKB	Duke Energy Corp	Pair Corr
0.7	CMS-PB	Consumers Energy	Pair Corr
0.61	EVRG	Evergy,	Pair Corr
0.69	WTRG	Essential Utilities	Pair Corr
0.64	ATO	Atmos Energy	Pair Corr
0.62	AVA	Avista	Pair Corr
0.67	AWK	American Water Works	Pair Corr
0.74	BKH	Black Hills	Pair Corr
0.62	CIG	Companhia Energetica	Pair Corr
0.67	CMS	CMS Energy	Pair Corr
0.69	CNP	CenterPoint Energy	Pair Corr
0.65	CPK	Chesapeake Utilities	Pair Corr
0.74	CWT	California Water Service	Pair Corr
0.64	DTE	DTE Energy	Pair Corr

Moving against Gabelli Mutual Fund

0.41	ELLO	Ellomay Capital	Pair Corr
0.41	BIP	Brookfield Infrastructure	Pair Corr
0.35	CEG	Constellation Energy Corp	Pair Corr
0.76	NFE	New Fortress Energy Buyout Trend	Pair Corr
0.52	XIFR	XPLR Infrastructure Symbol Change	Pair Corr

Related Correlations Analysis

	FGFAX	CENTX	CNGLX	CCMSX	PIEQX	LOGBX	SGLIX	OPTCX
FGFAX		0.99	-0.12	0.0	0.99	0.75	0.12	0.78	FGFAX
CENTX	0.99		-0.1	0.0	0.99	0.76	0.12	0.79	CENTX
CNGLX	-0.12	-0.1		0.0	-0.1	0.42	0.53	-0.12	CNGLX
CCMSX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CCMSX
PIEQX	0.99	0.99	-0.1	0.0		0.75	0.09	0.78	PIEQX
LOGBX	0.75	0.76	0.42	0.0	0.75		0.31	0.58	LOGBX
SGLIX	0.12	0.12	0.53	0.0	0.09	0.31		0.11	SGLIX
OPTCX	0.78	0.79	-0.12	0.0	0.78	0.58	0.11		OPTCX
	FGFAX	CENTX	CNGLX	CCMSX	PIEQX	LOGBX	SGLIX	OPTCX

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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

CENTX	+ 0.99	FGFAX
PIEQX	+ 0.99	FGFAX
PIEQX	+ 0.99	CENTX
OPTCX	+ 0.79	CENTX
OPTCX	+ 0.78	FGFAX
OPTCX	+ 0.78	PIEQX

High negative correlations

OPTCX	- 0.12	CNGLX
CNGLX	- 0.12	FGFAX
PIEQX	- 0.1	CNGLX
CNGLX	- 0.1	CENTX
OPTCX	- 0.0	CCMSX
SGLIX	- 0.0	CCMSX

Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli Utilities 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 Utilities' 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
FGFAX	0.80	0.11	0.17	(0.97)	0.97	(0.86)	1.79	(1.64)	5.93
CENTX	0.48	0.07	0.21	(1.16)	0.50	(0.54)	1.09	(0.87)	3.07
CNGLX	0.67	(0.15)	0.00	(16.69)	0.00	0.00	1.17	(1.88)	3.76
CCMSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PIEQX	0.66	0.09	0.18	(0.56)	0.79	(0.74)	1.55	(1.17)	4.73
LOGBX	0.52	0.00	0.00	(0.06)	0.00	0.00	0.83	(1.17)	4.19
SGLIX	0.81	(0.26)	0.00	(5.00)	0.00	0.00	0.97	(0.97)	18.08
OPTCX	0.07	(0.01)	0.25	1.05	0.08	(0.17)	0.21	(0.21)	0.93

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