Correlation Between Gabelli Gold and Natixis Oakmark

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Can any of the company-specific risk be diversified away by investing in both Gabelli Gold and Natixis Oakmark at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Gabelli Gold and Natixis Oakmark into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Gabelli Gold Fund and Natixis Oakmark, you can compare the effects of market volatilities on Gabelli Gold and Natixis Oakmark and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Gabelli Gold with a short position of Natixis Oakmark. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gabelli Gold and Natixis Oakmark.

Diversification Opportunities for Gabelli Gold and Natixis Oakmark

GabelliNatixisDiversified AwayGabelliNatixisDiversified Away100%
0.1
  Correlation Coefficient

Average diversification

The 3 months correlation between Gabelli and Natixis is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Gold Fund and Natixis Oakmark in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Natixis Oakmark and Gabelli Gold is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Gabelli Gold Fund are associated (or correlated) with Natixis Oakmark. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Natixis Oakmark has no effect on the direction of Gabelli Gold i.e., Gabelli Gold and Natixis Oakmark go up and down completely randomly.

Pair Corralation between Gabelli Gold and Natixis Oakmark

Assuming the 90 days horizon Gabelli Gold Fund is expected to under-perform the Natixis Oakmark. In addition to that, Gabelli Gold is 1.51 times more volatile than Natixis Oakmark. It trades about -0.11 of its total potential returns per unit of risk. Natixis Oakmark is currently generating about 0.0 per unit of volatility. If you would invest  3,358  in Natixis Oakmark on October 21, 2024 and sell it today you would lose (18.00) from holding Natixis Oakmark or give up 0.54% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Gabelli Gold Fund  vs.  Natixis Oakmark

 Performance 
JavaScript chart by amCharts 3.21.15NovDec2025 -10-50510
JavaScript chart by amCharts 3.21.15GLDAX NOANX
       Timeline  
Gabelli Gold 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Gabelli Gold Fund has generated negative risk-adjusted returns adding no value to fund investors. In spite of latest weak performance, the Fund's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the fund investors.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan202122232425
Natixis Oakmark 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Natixis Oakmark has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, Natixis Oakmark is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan3232.53333.53434.53535.536

Gabelli Gold and Natixis Oakmark Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-2.83-2.12-1.41-0.7-0.01180.671.362.052.743.43 0.050.100.150.200.250.30
JavaScript chart by amCharts 3.21.15GLDAX NOANX
       Returns  

Pair Trading with Gabelli Gold and Natixis Oakmark

The main advantage of trading using opposite Gabelli Gold and Natixis Oakmark positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gabelli Gold position performs unexpectedly, Natixis Oakmark can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Natixis Oakmark will offset losses from the drop in Natixis Oakmark's long position.
The idea behind Gabelli Gold Fund and Natixis Oakmark pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.

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