Gamco Global Correlations

XGGNX Fund

USD 4.33 0.02 0.46%

The current 90-days correlation between Gamco Global Gold and Harbor Diversified International is 0.56 (i.e., Very weak diversification). The correlation of Gamco Global 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.

Gamco Global Correlation With Market

Weak diversification

The correlation between Gamco Global Gold and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gamco Global Gold and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Gamco Global Gold. 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 board of governors.

Moving together with Gamco Mutual Fund

0.86	VGTSX	Vanguard Total Inter	Pair Corr
0.86	VTIAX	Vanguard Total Inter	Pair Corr
0.87	PFN	Pimco Income Strategy	Pair Corr
0.74	XPPRX	Voya Prime Rate	Pair Corr
0.83	PCF	Putnam High Income	Pair Corr
0.65	HRBDX	Harbor Bond Fund	Pair Corr
0.74	MRCZX	Massmutual Retiresmart	Pair Corr
0.64	OPIGX	Oppenheimer Core Bond	Pair Corr
0.8	EVUYX	Wells Fargo Advantage	Pair Corr
0.72	RNCIX	Rivernorth E Opportunity	Pair Corr
0.71	RISSX	Rbc International Small	Pair Corr
0.77	GSTPX	Goldman Sachs Inflation	Pair Corr
0.82	FQITX	Fidelity Salem Street	Pair Corr
0.89	ARBOX	Absolute Convertible	Pair Corr
0.71	MFSIX	Mfs Series Trust	Pair Corr
0.72	HWACX	Hotchkis Wiley Value	Pair Corr
0.84	RIGEX	International Growth And	Pair Corr
0.76	VSGDX	Vanguard Short Term	Pair Corr
0.76	FFLQX	Franklin Federal Lim	Pair Corr
0.81	FMUUX	Federated Municipal	Pair Corr
0.71	VGWAX	Vanguard Global Well	Pair Corr
0.75	PUCAX	Prudential Unconstrained	Pair Corr
0.61	DODGX	Dodge Stock Fund	Pair Corr
0.62	SAEMX	Sa Emerging Markets	Pair Corr
0.65	MFAAX	American Funds Mortgage	Pair Corr
0.68	AMAPX	Amana Participation	Pair Corr

Moving against Gamco Mutual Fund

0.31	XNXJX	Nuveen New Jersey	Pair Corr
0.65	MAPBX	Mainstay Map Equity	Pair Corr

Related Correlations Analysis

	HIIDX	CDBCX	OIDAX	DIFIX	SRDAX	LIGFX	PHTTX
HIIDX		0.86	0.85	0.93	-0.3	0.66	0.63	HIIDX
CDBCX	0.86		0.64	0.95	-0.47	0.49	0.47	CDBCX
OIDAX	0.85	0.64		0.78	-0.24	0.79	0.82	OIDAX
DIFIX	0.93	0.95	0.78		-0.38	0.7	0.68	DIFIX
SRDAX	-0.3	-0.47	-0.24	-0.38		0.03	-0.02	SRDAX
LIGFX	0.66	0.49	0.79	0.7	0.03		0.98	LIGFX
PHTTX	0.63	0.47	0.82	0.68	-0.02	0.98		PHTTX
	HIIDX	CDBCX	OIDAX	DIFIX	SRDAX	LIGFX	PHTTX

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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

PHTTX	+ 0.98	LIGFX
DIFIX	+ 0.95	CDBCX
DIFIX	+ 0.93	HIIDX
CDBCX	+ 0.86	HIIDX
OIDAX	+ 0.85	HIIDX
PHTTX	+ 0.82	OIDAX

High negative correlations

SRDAX	- 0.47	CDBCX
SRDAX	- 0.38	DIFIX
SRDAX	- 0.3	HIIDX
SRDAX	- 0.24	OIDAX
PHTTX	- 0.02	SRDAX

Risk-Adjusted Indicators

There is a big difference between Gamco Mutual Fund performing well and Gamco Global 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 Gamco Global'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
HIIDX	0.63	0.08	0.12	0.08	0.82	(0.65)	1.27	(0.97)	5.23
CDBCX	0.23	0.01	0.24	0.27	0.22	(0.30)	0.56	(0.44)	1.34
OIDAX	0.72	(0.01)	0.00	(0.10)	0.00	0.00	1.42	(1.46)	5.03
DIFIX	0.28	0.02	0.16	0.01	0.35	(0.33)	0.58	(0.57)	1.51
SRDAX	0.16	0.00	0.27	(2.13)	0.16	(0.20)	0.29	(0.37)	0.76
LIGFX	0.32	0.01	0.00	(0.03)	0.00	0.00	0.55	(0.67)	1.75
PHTTX	0.35	0.00	0.00	(0.07)	0.00	0.00	0.67	(0.67)	1.95

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