The Gabelli Correlations

GWSIX Fund

USD 19.15 0.09 0.47%

The current 90-days correlation between Gabelli Focus and Ab Value Fund is -0.06 (i.e., Good diversification). The correlation of The Gabelli 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.

The Gabelli Correlation With Market

Good diversification

The correlation between The Gabelli Focus and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Focus 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 Focus. 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 gross domestic product.

Moving together with The Mutual Fund

0.68	SRIGX	Gabelli Esg Fund	Pair Corr
0.68	GCIEX	Gabelli Equity	Pair Corr
0.64	EMACX	Enterprise Mergers And	Pair Corr
0.64	EMAAX	Enterprise Mergers And	Pair Corr
0.65	EMAYX	Enterprise Mergers And	Pair Corr
0.65	GVCAX	Gabelli Value	Pair Corr
0.62	GEICX	Gabelli Equity Income	Pair Corr
0.82	GWSAX	Gabelli Focus	Pair Corr
0.82	GWSCX	Gabelli Focus	Pair Corr
0.82	GWSVX	Gabelli Focus	Pair Corr
0.66	GFSIX	Gabelli Global Financial	Pair Corr
0.8	GGFSX	Gabelli Global Financial	Pair Corr
0.64	EAAAX	Enterprise Mergers And	Pair Corr
0.68	DRCVX	Comstock Capital Value	Pair Corr
0.66	COMVX	Comstock Capital Value	Pair Corr

Related Correlations Analysis

	ABVCX	FLAKQX	FURYAX	FDZBPX	FADZX	WRLDX	FZDAQX	FFCDAX
ABVCX		0.82	0.82	0.83	-0.13	0.69	0.52	0.6	ABVCX
FLAKQX	0.82		0.62	0.8	0.12	0.67	0.61	0.68	FLAKQX
FURYAX	0.82	0.62		0.81	-0.37	0.34	0.35	0.38	FURYAX
FDZBPX	0.83	0.8	0.81		-0.28	0.38	0.49	0.7	FDZBPX
FADZX	-0.13	0.12	-0.37	-0.28		0.4	0.39	0.22	FADZX
WRLDX	0.69	0.67	0.34	0.38	0.4		0.59	0.53	WRLDX
FZDAQX	0.52	0.61	0.35	0.49	0.39	0.59		0.78	FZDAQX
FFCDAX	0.6	0.68	0.38	0.7	0.22	0.53	0.78		FFCDAX
	ABVCX	FLAKQX	FURYAX	FDZBPX	FADZX	WRLDX	FZDAQX	FFCDAX

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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

FDZBPX	+ 0.83	ABVCX
FLAKQX	+ 0.82	ABVCX
FURYAX	+ 0.82	ABVCX
FDZBPX	+ 0.81	FURYAX
FDZBPX	+ 0.8	FLAKQX
FFCDAX	+ 0.78	FZDAQX

High negative correlations

FADZX	- 0.37	FURYAX
FADZX	- 0.28	FDZBPX
FADZX	- 0.13	ABVCX

Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Gabelli 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 The Gabelli'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
ABVCX	0.67	(0.05)	0.00	0.45	0.00	0.00	1.34	(1.63)	3.68
FLAKQX	0.83	(0.02)	0.00	(0.62)	0.00	0.00	1.75	(2.40)	4.80
FURYAX	0.69	0.01	0.00	(0.05)	0.00	0.00	1.21	(1.39)	2.96
FDZBPX	0.41	(0.03)	0.00	0.26	0.00	0.00	0.80	(1.01)	2.94
FADZX	0.10	0.01	0.53	(0.63)	0.00	(0.15)	0.20	(0.20)	0.50
WRLDX	0.64	(0.02)	0.06	0.09	0.95	(0.60)	1.24	(1.68)	2.96
FZDAQX	0.12	0.00	0.20	(0.08)	0.18	(0.15)	0.21	(0.41)	1.03
FFCDAX	0.13	(0.01)	0.00	0.81	0.00	0.00	0.21	(0.41)	1.14

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