The Gabelli Correlations

Mutual Funds . USA . 
Fund . The Gabelli Abc
GABCX Fund  USD 11.10  0.02  0.18%   
The current 90-days correlation between Gabelli Abc and Gabelli Esg Fund is 0.8 (i.e., Very poor diversification). The correlation of The Gabelli 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.

The Gabelli Correlation With Market

Poor diversification

The correlation between The Gabelli Abc and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Abc 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 The Gabelli Abc. 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 main economic indicators.

Moving together with The Mutual Fund

  0.98SRIGX Gabelli Esg FundPairCorr
  0.99GCFSX Gabelli Global FinancialPairCorr
  0.97GCIEX Gabelli EquityPairCorr
  0.74GCIGX Gamco InternationalPairCorr
  0.99EMACX Enterprise Mergers AndPairCorr
  0.99EMAAX Enterprise Mergers AndPairCorr
  0.99EMAYX Enterprise Mergers AndPairCorr
  0.87GUXPX Gabelli UtilitiesPairCorr
  0.99GVCAX Gabelli ValuePairCorr
  0.99GVCCX Gabelli ValuePairCorr
  0.99GVCIX Gabelli ValPairCorr
  0.97MLGLX Gabelli Media MogulPairCorr
  0.97GEICX Gabelli Equity IncomePairCorr
  0.78GWSAX Gabelli FocusPairCorr
  0.75GWSCX Gabelli FocusPairCorr
  0.79GWSIX Gabelli FocusPairCorr
  0.77GWSVX Gabelli FocusPairCorr
  0.99GFSIX Gabelli Global FinancialPairCorr
  0.98GGCAX Gabelli GrowthPairCorr
  0.98GGCCX Gabelli GrowthPairCorr
  0.98GGCIX Gabelli GrowthPairCorr
  0.99GGFSX Gabelli Global FinancialPairCorr
  0.98GGGAX Gamco Global GrowthPairCorr
  0.98GGGCX Gamco Global GrowthPairCorr
  0.98GGGIX Gamco Global GrowthPairCorr
  0.99GGMMX Gabelli Global MiniPairCorr
  0.91GGLCX Gamco Global OpportunityPairCorr
  0.97MOGLX Gabelli Media MogulPairCorr
  0.98GICPX Gamco Global GrowthPairCorr
  0.77GIIGX Gamco InternationalPairCorr
  0.76GIGRX Gamco InternationalPairCorr
  0.99EAAAX Enterprise Mergers AndPairCorr
  0.9GLOIX Gamco Global OpportunityPairCorr
  0.99DRCVX Comstock Capital ValuePairCorr
  0.99GMNAX Gabelli Global MiniPairCorr
  0.99GMNCX Gabelli Global MiniPairCorr
  0.99COMVX Comstock Capital ValuePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Gabelli 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 The Gabelli'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SRIGX  0.61  0.08  0.05  0.23  0.57 
(0.68)
 1.62 
(1.39)
 4.23 
GCFSX  0.65  0.19  0.17  0.41  0.35 
(0.78)
 1.94 
(1.19)
 3.94 
GCIEX  0.58  0.07  0.04  0.23  0.44 
(0.66)
 1.53 
(1.19)
 3.60 
GCIGX  0.62  0.02 (0.07) 0.18  0.71 
(0.64)
 1.16 
(1.19)
 3.45 
EMACX  0.44  0.09  0.03  0.33  0.42 
(0.49)
 0.97 
(0.89)
 2.64 
EMAAX  0.44  0.09  0.03  0.33  0.45 
(0.47)
 0.97 
(0.89)
 2.67 
EMAYX  0.41  0.10  0.04  0.36  0.39 
(0.46)
 0.94 
(0.82)
 2.67 
GUXPX  0.58  0.04 (0.05) 0.25  0.66 
(0.66)
 0.94 
(1.47)
 3.69 
GVCAX  0.48  0.11  0.05  0.32  0.50 
(0.53)
 1.03 
(1.11)
 3.40 
GVCCX  0.51  0.10  0.05  0.30  0.52 
(0.55)
 1.11 
(1.12)
 3.38 

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