Gabelli Global Correlations

XGLUX Fund

USD 15.29 0.05 0.33%

The current 90-days correlation between Gabelli Global and Duke Energy Corp is 0.08 (i.e., Significant diversification). The correlation of Gabelli 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.

Gabelli Global Correlation With Market

Average diversification

The correlation between The Gabelli Global and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Global 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 The Gabelli Global. 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 employment.

Moving together with Gabelli Mutual Fund

0.84	DUKB	Duke Energy Corp	Pair Corr
0.83	DTW	DTE Energy	Pair Corr
0.81	SOJD	Southern	Pair Corr
0.85	VGTSX	Vanguard Total Inter	Pair Corr
0.84	VTIAX	Vanguard Total Inter	Pair Corr
0.77	NHS	Neuberger Berman High	Pair Corr
0.67	LIPIX	Blackrock Lifepath Idx	Pair Corr

Moving against Gabelli Mutual Fund

0.63	AQNB	Algonquin Power Utilities	Pair Corr
0.61	VVPR	VivoPower International	Pair Corr
0.38	BLDPX	Blackrock Low Duration	Pair Corr
0.93	DXKSX	Direxion Monthly 7	Pair Corr
0.76	ACTVX	Zero Pon 2025	Pair Corr
0.59	SDGFX	Sdit Short Duration	Pair Corr
0.5	HGOTX	Hartford Growth Oppo	Pair Corr

Related Correlations Analysis

	DUKB	VVPR	DTW	UZE	SVIIR	NOVA	AQNB	SOJD
DUKB		-0.72	0.92	0.39	-0.3	0.56	-0.49	0.91	DUKB
VVPR	-0.72		-0.8	-0.05	0.27	-0.29	0.51	-0.81	VVPR
DTW	0.92	-0.8		0.3	-0.27	0.52	-0.6	0.97	DTW
UZE	0.39	-0.05	0.3		-0.35	0.1	-0.2	0.24	UZE
SVIIR	-0.3	0.27	-0.27	-0.35		-0.04	0.21	-0.26	SVIIR
NOVA	0.56	-0.29	0.52	0.1	-0.04		-0.57	0.57	NOVA
AQNB	-0.49	0.51	-0.6	-0.2	0.21	-0.57		-0.62	AQNB
SOJD	0.91	-0.81	0.97	0.24	-0.26	0.57	-0.62		SOJD
	DUKB	VVPR	DTW	UZE	SVIIR	NOVA	AQNB	SOJD

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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

SOJD	+ 0.97	DTW
DTW	+ 0.92	DUKB
SOJD	+ 0.91	DUKB
SOJD	+ 0.57	NOVA
NOVA	+ 0.56	DUKB
NOVA	+ 0.52	DTW

High negative correlations

SOJD	- 0.81	VVPR
DTW	- 0.8	VVPR
VVPR	- 0.72	DUKB
SOJD	- 0.62	AQNB
AQNB	- 0.6	DTW
AQNB	- 0.57	NOVA

Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli 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 Gabelli 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
DUKB	0.44	(0.06)	0.00	(0.21)	0.00	0.00	0.93	(0.92)	2.55
VVPR	6.35	0.95	0.10	(2.83)	8.15	(8.17)	14.58	(10.30)	112.34
DTW	0.75	(0.11)	0.00	(0.39)	0.00	0.00	1.68	(1.21)	4.09
UZE	0.48	(0.02)	0.00	(0.08)	0.00	0.00	1.27	(0.79)	3.36
SVIIR	8.07	0.28	0.01	(0.18)	10.93	(11.82)	21.07	(19.90)	59.62
NOVA	6.16	(0.36)	0.00	(0.21)	0.00	0.00	14.31	(13.08)	65.87
AQNB	0.24	0.02	(0.09)	(0.31)	0.28	(0.26)	0.48	(0.48)	1.86
SOJD	0.75	(0.15)	0.00	(0.60)	0.00	0.00	1.35	(1.74)	4.67

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