Gabelli Healthcare Correlations

XXGRX Fund

USD 11.35 0.09 0.80%

The current 90-days correlation between The Gabelli Healthcare and Fa 529 Aggressive is -0.03 (i.e., Good diversification). The correlation of Gabelli Healthcare 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 Healthcare Correlation With Market

Good diversification

The correlation between The Gabelli Healthcare and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Healthcare 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 Healthcare. 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 metropolitan statistical area.

Moving together with Gabelli Mutual Fund

0.66	EXG	Eaton Vance Tax	Pair Corr
0.64	FAX	Aberdeen Asia Pacific	Pair Corr
0.63	NVG	Nuveen Amt Free	Pair Corr
0.76	DBIWX	Dws Global Macro	Pair Corr
0.65	RXRPX	American Funds Retirement	Pair Corr
0.61	GIOIX	Guggenheim Macro Opp	Pair Corr
0.62	EBSIX	Campbell Systematic Macro	Pair Corr
0.61	EMBAX	Unconstrained Emerging	Pair Corr
0.63	RMDUX	American Funds Multi	Pair Corr

Related Correlations Analysis

	FFCGX	FSULTX	FLAKQX	FURYAX	XHYIX	ABVCX	FZDAQX
FFCGX		0.0	0.75	0.83	0.49	0.93	0.47	FFCGX
FSULTX	0.0		0.21	-0.29	-0.03	-0.07	0.61	FSULTX
FLAKQX	0.75	0.21		0.64	0.51	0.75	0.6	FLAKQX
FURYAX	0.83	-0.29	0.64		0.6	0.91	0.35	FURYAX
XHYIX	0.49	-0.03	0.51	0.6		0.51	0.39	XHYIX
ABVCX	0.93	-0.07	0.75	0.91	0.51		0.46	ABVCX
FZDAQX	0.47	0.61	0.6	0.35	0.39	0.46		FZDAQX
	FFCGX	FSULTX	FLAKQX	FURYAX	XHYIX	ABVCX	FZDAQX

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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

ABVCX	+ 0.93	FFCGX
ABVCX	+ 0.91	FURYAX
FURYAX	+ 0.83	FFCGX
FLAKQX	+ 0.75	FFCGX
ABVCX	+ 0.75	FLAKQX
FURYAX	+ 0.64	FLAKQX

High negative correlations

FURYAX	- 0.29	FSULTX
ABVCX	- 0.07	FSULTX
XHYIX	- 0.03	FSULTX
FSULTX	- 0.0	FFCGX

Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli Healthcare 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 Healthcare'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
FFCGX	0.75	0.02	0.03	(0.01)	1.02	(0.77)	1.37	(1.56)	4.66
FSULTX	0.28	0.01	0.11	0.50	0.35	(0.30)	0.61	(0.51)	1.75
FLAKQX	0.83	0.00	0.03	(0.06)	1.12	(0.93)	1.75	(2.40)	4.80
FURYAX	0.70	0.02	0.04	0.00	0.82	(0.78)	1.21	(1.39)	2.96
XHYIX	0.16	(0.03)	0.00	0.81	0.00	0.00	0.25	(0.49)	1.31
ABVCX	0.68	0.01	0.00	(0.02)	0.00	0.00	1.38	(1.63)	3.68
FZDAQX	0.12	0.00	0.10	(0.06)	0.18	(0.15)	0.21	(0.41)	1.03

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