The Gabelli Correlations

Mutual Funds . USA . 
Fund . The Gabelli Equity
GABEX Fund  USD 6.02  0.01  0.17%   
The current 90-days correlation between Gabelli Equity and Wasatch Large Cap is 0.76 (i.e., 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

Very poor diversification

The correlation between The Gabelli Equity and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Equity 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 Equity. 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 income.

Moving together with The Mutual Fund

  1.0SRIGX Gabelli Esg FundPairCorr
  0.99GCFSX Gabelli Global FinancialPairCorr
  1.0GCIEX Gabelli EquityPairCorr
  0.83GCIGX Gamco InternationalPairCorr
  0.97EMACX Enterprise Mergers AndPairCorr
  0.97EMAAX Enterprise Mergers AndPairCorr
  0.97EMAYX Enterprise Mergers AndPairCorr
  0.87GUXPX Gabelli UtilitiesPairCorr
  0.98GVCAX Gabelli ValuePairCorr
  0.98GVCCX Gabelli ValuePairCorr
  0.98GVCIX Gabelli ValPairCorr
  0.94MLGLX Gabelli Media MogulPairCorr
  1.0GEICX Gabelli Equity IncomePairCorr
  0.79GWSAX Gabelli FocusPairCorr
  0.76GWSCX Gabelli FocusPairCorr
  0.79GWSIX Gabelli FocusPairCorr
  0.78GWSVX Gabelli FocusPairCorr
  0.99GFSIX Gabelli Global FinancialPairCorr
  0.97GGCAX Gabelli GrowthPairCorr
  0.97GGCCX Gabelli GrowthPairCorr
  0.97GGCIX Gabelli GrowthPairCorr
  0.99GGFSX Gabelli Global FinancialPairCorr
  0.98GGGAX Gamco Global GrowthPairCorr
  0.98GGGCX Gamco Global GrowthPairCorr
  0.98GGGIX Gamco Global GrowthPairCorr
  0.97GGMMX Gabelli Global MiniPairCorr
  0.87GGLCX Gamco Global OpportunityPairCorr
  0.94MOGLX Gabelli Media MogulPairCorr
  0.98GICPX Gamco Global GrowthPairCorr
  0.85GIIGX Gamco InternationalPairCorr
  0.84GIGRX Gamco InternationalPairCorr
  0.97EAAAX Enterprise Mergers AndPairCorr
  0.87GLOIX Gamco Global OpportunityPairCorr
  0.95DRCVX Comstock Capital ValuePairCorr
  0.97GMNAX Gabelli Global MiniPairCorr
  0.97GMNCX Gabelli Global MiniPairCorr
  0.95COMVX Comstock Capital ValuePairCorr

Related Correlations Analysis

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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.

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