Gabelli Utility Correlations

XGUTX Fund

USD 3.13 0.01 0.32%

The correlation of Gabelli Utility 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 Utility Correlation With Market

Very good diversification

The correlation between Gabelli Utility Trust and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Utility Trust 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 Gabelli Utility Trust. 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 estimate.

Moving together with Gabelli Mutual Fund

0.71

UZE

United States Cellular

Pair Corr

Moving against Gabelli Mutual Fund

0.38	SVIIR	Spring Valley Acquisition	Pair Corr
0.34	AQNB	Algonquin Power Utilities	Pair Corr
0.58	DXKSX	Direxion Monthly 7	Pair Corr
0.51	ACTVX	Zero Pon 2025	Pair Corr
0.35	SDGFX	Sdit Short Duration	Pair Corr

Related Correlations Analysis

	PCLPX	RYMBX	XMSDX	ARTYX	RBLCX	JEMDX	WELNX	ECSWX
PCLPX		0.99	-0.47	-0.33	-0.26	0.05	-0.44	0.95	PCLPX
RYMBX	0.99		-0.51	-0.38	-0.32	-0.01	-0.51	0.94	RYMBX
XMSDX	-0.47	-0.51		0.59	0.74	0.55	0.52	-0.34	XMSDX
ARTYX	-0.33	-0.38	0.59		0.75	0.76	0.24	-0.28	ARTYX
RBLCX	-0.26	-0.32	0.74	0.75		0.78	0.48	-0.15	RBLCX
JEMDX	0.05	-0.01	0.55	0.76	0.78		0.14	0.12	JEMDX
WELNX	-0.44	-0.51	0.52	0.24	0.48	0.14		-0.32	WELNX
ECSWX	0.95	0.94	-0.34	-0.28	-0.15	0.12	-0.32		ECSWX
	PCLPX	RYMBX	XMSDX	ARTYX	RBLCX	JEMDX	WELNX	ECSWX

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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

RYMBX	+ 0.99	PCLPX
ECSWX	+ 0.95	PCLPX
ECSWX	+ 0.94	RYMBX
JEMDX	+ 0.78	RBLCX
JEMDX	+ 0.76	ARTYX
RBLCX	+ 0.75	ARTYX

High negative correlations

WELNX	- 0.51	RYMBX
XMSDX	- 0.51	RYMBX
XMSDX	- 0.47	PCLPX
WELNX	- 0.44	PCLPX
ARTYX	- 0.38	RYMBX
ECSWX	- 0.34	XMSDX

Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli Utility 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 Utility'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
PCLPX	0.65	0.09	0.05	3.20	0.75	(0.78)	1.41	(1.39)	4.33
RYMBX	0.70	0.11	0.09	8.82	0.62	(0.89)	1.82	(1.28)	3.89
XMSDX	0.27	(0.03)	0.00	(0.31)	0.00	0.00	0.40	(0.51)	4.70
ARTYX	0.76	0.05	0.01	0.29	1.03	(0.73)	1.40	(1.52)	4.86
RBLCX	0.38	(0.02)	(0.08)	(0.03)	0.60	(0.36)	0.77	(0.76)	2.90
JEMDX	0.24	(0.01)	(0.14)	(0.16)	0.30	(0.29)	0.32	(0.48)	2.10
WELNX	0.53	(0.08)	0.00	(0.21)	0.00	0.00	1.08	(0.96)	3.24
ECSWX	0.62	0.08	0.04	(1.59)	0.78	(0.67)	1.49	(1.28)	6.16

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