Gabelli Equity Correlations

GAB Fund

USD 5.93 0.04 0.68%

The current 90-days correlation between Gabelli Equity Trust and Liberty All Star is 0.53 (i.e., Very weak diversification). The correlation of Gabelli Equity 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.

Gabelli Equity Correlation With Market

Poor diversification

The correlation between Gabelli Equity Trust and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Equity Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gabelli Equity Trust. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Gabelli Fund

0.77	NEA	Nuveen Amt Free	Pair Corr
0.75	NVG	Nuveen Amt Free	Pair Corr
0.71	NAD	Nuveen Dividend Advantage	Pair Corr
0.81	EDD	Morgan Stanley Emerging Potential Growth	Pair Corr
0.93	PTY	Pimco Corporate Income	Pair Corr
0.75	NZF	Nuveen Municipal Credit	Pair Corr
0.94	FIFRX	Franklin Growth	Pair Corr
0.94	VFIAX	Vanguard 500 Index	Pair Corr
0.88	MHYIX	Mainstay High Yield	Pair Corr
0.88	GOPCX	Aberdeen China Oppty	Pair Corr
0.92	TAAEX	Transamerica Capital	Pair Corr
0.93	LEKKX	Blackrock Lifepath Esg	Pair Corr
0.88	APDMX	Artisan Mid Cap	Pair Corr
0.94	MAANX	Mutual Of America	Pair Corr
0.82	CLM	Cornerstone Strategic	Pair Corr
0.93	HFLYX	Hartford Floating	Pair Corr
0.94	IRDAX	Ishares Russell 3000	Pair Corr
0.93	SMGAX	Saat Servative Strategy	Pair Corr
0.91	FLMFX	Muirfield Fund Retail	Pair Corr
0.94	VFINX	Vanguard 500 Index	Pair Corr
0.93	FBKFX	Fidelity Balanced	Pair Corr
0.94	CFWCX	Calvert Global Water	Pair Corr
0.75	PARTX	Putman Absolute Return	Pair Corr
0.91	AONIX	One Choice Portfolio	Pair Corr
0.94	MIFIX	Miller Intermediate Bond	Pair Corr
0.92	JINTX	Johnson International	Pair Corr
0.92	CLREX	Columbia Balanced	Pair Corr
0.92	MSQLX	International Equity	Pair Corr
0.91	EISIX	Eagle International Stock	Pair Corr
0.9	JIESX	Jpmorgan International	Pair Corr
0.91	GSPQX	Goldman Sachs Equity	Pair Corr
0.92	FIWCX	Fidelity Sai Interna	Pair Corr
0.94	TWGIX	Growth Fund I	Pair Corr
0.84	TEIMX	T Rowe Price	Pair Corr
0.92	RBITX	American Funds 2050	Pair Corr
0.73	PCIMX	California Intermediate	Pair Corr

Related Correlations Analysis

	GUT	GGT	GRX	USA	ASG
GUT		0.15	-0.32	0.77	0.81	GUT
GGT	0.15		-0.01	-0.2	-0.23	GGT
GRX	-0.32	-0.01		-0.08	-0.13	GRX
USA	0.77	-0.2	-0.08		0.98	USA
ASG	0.81	-0.23	-0.13	0.98		ASG
	GUT	GGT	GRX	USA	ASG

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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

ASG	+ 0.98	USA
ASG	+ 0.81	GUT
USA	+ 0.77	GUT
GGT	+ 0.15	GUT

High negative correlations

GRX	- 0.32	GUT
ASG	- 0.23	GGT
USA	- 0.2	GGT
ASG	- 0.13	GRX
USA	- 0.08	GRX
GRX	- 0.01	GGT

Risk-Adjusted Indicators

There is a big difference between Gabelli Fund performing well and Gabelli Equity 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 Equity'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
GUT	0.61	0.24	0.17	1.04	0.16	(0.83)	1.53	(0.88)	3.46
GGT	0.75	(0.03)	(0.10)	0.11	0.94	(0.91)	1.75	(1.54)	8.25
GRX	0.75	0.01	0.00	0.12	0.00	0.00	1.61	(1.60)	5.01
USA	0.68	0.04	0.00	0.22	0.70	(0.81)	1.57	(1.23)	4.27
ASG	0.92	0.14	0.09	0.33	0.90	(1.02)	2.47	(1.35)	6.29

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