Gabelli Value Correlations

GVCAX Fund

USD 11.22 0.05 0.45%

The current 90-days correlation between Gabelli Value and Gabelli Gold Fund is 0.26 (i.e., Modest diversification). The correlation of Gabelli Value 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 Value Correlation With Market

Very poor diversification

The correlation between The Gabelli Value and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Value 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 The Gabelli Value. 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

0.86	GCFSX	Gabelli Global Financial	Pair Corr
0.98	GCIEX	Gabelli Equity	Pair Corr
0.91	EMACX	Enterprise Mergers And	Pair Corr
0.9	EMAAX	Enterprise Mergers And	Pair Corr
0.9	EMAYX	Enterprise Mergers And	Pair Corr
0.65	GUXPX	Gabelli Utilities	Pair Corr
1.0	GVCCX	Gabelli Value	Pair Corr
1.0	GVCIX	Gabelli Val	Pair Corr
0.88	MLGLX	Gabelli Media Mogul	Pair Corr
0.98	GEICX	Gabelli Equity Income	Pair Corr
0.91	GWSAX	Gabelli Focus	Pair Corr
0.91	GWSCX	Gabelli Focus	Pair Corr
0.91	GWSIX	Gabelli Focus	Pair Corr
0.91	GWSVX	Gabelli Focus	Pair Corr
0.85	GFSIX	Gabelli Global Financial	Pair Corr
0.85	GGCCX	Gabelli Growth	Pair Corr
0.85	GGCIX	Gabelli Growth	Pair Corr
0.85	GGFSX	Gabelli Global Financial	Pair Corr
0.88	GGGCX	Gamco Global Growth	Pair Corr
0.88	MOGLX	Gabelli Media Mogul	Pair Corr
0.88	GICPX	Gamco Global Growth	Pair Corr
0.9	EAAAX	Enterprise Mergers And	Pair Corr
0.88	DRCVX	Comstock Capital Value	Pair Corr
0.9	GMNAX	Gabelli Global Mini	Pair Corr
0.9	GMNCX	Gabelli Global Mini	Pair Corr
0.89	CPCRX	Comstock Capital Value	Pair Corr
0.73	GACCX	Gamco Global	Pair Corr
0.71	GACIX	Gabelli Small	Pair Corr

Moving against Gabelli Mutual Fund

0.53	GGLCX	Gamco Global Opportunity	Pair Corr
0.44	GCIGX	Gamco International	Pair Corr
0.42	GIIGX	Gamco International	Pair Corr
0.42	GIGRX	Gamco International	Pair Corr
0.53	GLOIX	Gamco Global Opportunity	Pair Corr
0.53	GOCAX	Gamco Global Opportunity	Pair Corr
0.53	GABOX	Gamco Global Opportunity	Pair Corr

Related Correlations Analysis

	GLDAX	FGDIX	SGDLX	GLRBX	FRGOX	EPGFX	GCEBX
GLDAX		0.99	0.99	0.38	0.98	0.98	0.26	GLDAX
FGDIX	0.99		0.97	0.33	0.97	0.97	0.33	FGDIX
SGDLX	0.99	0.97		0.45	0.99	0.99	0.16	SGDLX
GLRBX	0.38	0.33	0.45		0.41	0.44	-0.21	GLRBX
FRGOX	0.98	0.97	0.99	0.41		0.99	0.2	FRGOX
EPGFX	0.98	0.97	0.99	0.44	0.99		0.15	EPGFX
GCEBX	0.26	0.33	0.16	-0.21	0.2	0.15		GCEBX
	GLDAX	FGDIX	SGDLX	GLRBX	FRGOX	EPGFX	GCEBX

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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

FGDIX	+ 0.99	GLDAX
SGDLX	+ 0.99	GLDAX
FRGOX	+ 0.99	SGDLX
EPGFX	+ 0.99	SGDLX
EPGFX	+ 0.99	FRGOX
FRGOX	+ 0.98	GLDAX

High negative correlations

GCEBX

- 0.21

GLRBX

Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli Value 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 Value'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
GLDAX	1.32	0.01	(0.06)	0.19	1.80	(1.28)	2.70	(2.77)	9.26
FGDIX	1.31	(0.01)	(0.06)	0.05	1.81	(1.33)	2.67	(2.83)	9.78
SGDLX	1.33	0.04	(0.04)	0.47	1.59	(1.44)	2.78	(2.57)	9.03
GLRBX	0.31	(0.03)	(0.22)	0.07	0.37	(0.32)	0.61	(0.70)	1.88
FRGOX	1.47	(0.02)	(0.05)	0.08	1.84	(1.51)	3.13	(3.01)	9.03
EPGFX	1.42	0.02	(0.04)	0.21	1.95	(1.37)	2.54	(3.10)	10.62
GCEBX	0.75	(0.11)	0.00	0.64	0.00	0.00	1.36	(1.75)	8.30

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