The Gabelli Correlations

Mutual Funds USA . 
Fund . The Gabelli Global
GAGCX Fund  USD 34.26  0.26  0.76%   
The current 90-days correlation between Gabelli Global and Gabelli Esg Fund is 0.86 (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 Global and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Global 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 Global. 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

  0.99SRIGX Gabelli Esg FundPairCorr
  0.98GCFSX Gabelli Global FinancialPairCorr
  0.99GCIEX Gabelli EquityPairCorr
  0.85GCIGX Gamco InternationalPairCorr
  0.96EMACX Enterprise Mergers AndPairCorr
  0.96EMAAX Enterprise Mergers AndPairCorr
  0.96EMAYX Enterprise Mergers AndPairCorr
  0.86GUXPX Gabelli UtilitiesPairCorr
  0.98GVCAX Gabelli ValuePairCorr
  0.98GVCCX Gabelli ValuePairCorr
  0.98GVCIX Gabelli ValPairCorr
  0.93MLGLX Gabelli Media MogulPairCorr
  0.98GEICX Gabelli Equity IncomePairCorr
  0.73GWSAX Gabelli FocusPairCorr
  0.7GWSCX Gabelli FocusPairCorr
  0.73GWSIX Gabelli FocusPairCorr
  0.72GWSVX Gabelli FocusPairCorr
  0.98GFSIX Gabelli Global FinancialPairCorr
  0.97GGCAX Gabelli GrowthPairCorr
  0.98GGCCX Gabelli GrowthPairCorr
  0.97GGCIX Gabelli GrowthPairCorr
  0.98GGFSX Gabelli Global FinancialPairCorr
  0.98GGGAX Gamco Global GrowthPairCorr
  0.98GGGCX Gamco Global GrowthPairCorr
  0.98GGGIX Gamco Global GrowthPairCorr
  0.97GGMMX Gabelli Global MiniPairCorr
  0.92GGLCX Gamco Global OpportunityPairCorr
  0.93MOGLX Gabelli Media MogulPairCorr
  0.98GICPX Gamco Global GrowthPairCorr
  0.87GIIGX Gamco InternationalPairCorr
  0.86GIGRX Gamco InternationalPairCorr
  0.96EAAAX Enterprise Mergers AndPairCorr
  0.92GLOIX Gamco Global OpportunityPairCorr
  0.96DRCVX Comstock Capital ValuePairCorr
  0.97GMNAX Gabelli Global MiniPairCorr
  0.97GMNCX Gabelli Global MiniPairCorr
  0.96COMVX 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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