Gabelli ETFs Correlations

GCAD Etf

43.45 0.06 0.14%

The current 90-days correlation between Gabelli ETFs Trust and First Trust Indxx is 0.91 (i.e., Almost no diversification). The correlation of Gabelli ETFs 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 ETFs Correlation With Market

Poor diversification

The correlation between Gabelli ETFs Trust and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli ETFs Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Gabelli Etf

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

Moving together with Gabelli Etf

0.98	XLI	Industrial Select Sector	Pair Corr
1.0	ITA	iShares Aerospace Defense Low Volatility	Pair Corr
0.98	VIS	Vanguard Industrials	Pair Corr
0.92	JETS	US Global Jets	Pair Corr
0.94	FXR	First Trust Industri	Pair Corr
1.0	PPA	Invesco Aerospace Defense	Pair Corr
0.84	EGLE	Global X Funds	Pair Corr
0.96	IYJ	iShares Industrials ETF	Pair Corr
0.91	IYT	iShares Transportation Potential Growth	Pair Corr
0.88	BTCL	T Rex 2X	Pair Corr
0.88	BITU	ProShares Trust	Pair Corr
0.88	BTFX	Valkyrie Bitcoin Futures	Pair Corr
0.87	BITX	Volatility Shares Trust	Pair Corr
0.75	MSTY	YieldMax MSTR Option Downward Rally	Pair Corr
0.99	DFEN	Direxion Daily Aerospace	Pair Corr
0.96	CAT	Caterpillar	Pair Corr
0.86	MMM	3M Company	Pair Corr
0.93	AXP	American Express	Pair Corr
0.86	PFE	Pfizer Inc	Pair Corr
0.95	BAC	Bank of America	Pair Corr
0.98	MSFT	Microsoft	Pair Corr
0.87	AA	Alcoa Corp	Pair Corr
0.83	CVX	Chevron Corp	Pair Corr
0.96	DIS	Walt Disney	Pair Corr
0.86	DD	Dupont De Nemours	Pair Corr
0.69	INTC	Intel Earnings Call This Week	Pair Corr
0.93	BA	Boeing	Pair Corr

Moving against Gabelli Etf

0.9	WTID	UBS ETRACS	Pair Corr
0.48	PG	Procter Gamble	Pair Corr
0.39	VZ	Verizon Communications Earnings Call This Week	Pair Corr

Related Correlations Analysis

	MISL	DUSL	NATO	NFRA	EUAD	FIDU	CGW	FOWF	EXI
MISL		0.96	0.97	0.89	0.95	0.96	0.91	0.98	0.95	MISL
DUSL	0.96		0.96	0.93	0.94	1.0	0.95	0.98	0.99	DUSL
NATO	0.97	0.96		0.93	0.98	0.96	0.93	0.99	0.96	NATO
NFRA	0.89	0.93	0.93		0.94	0.93	0.98	0.93	0.95	NFRA
EUAD	0.95	0.94	0.98	0.94		0.95	0.94	0.97	0.96	EUAD
FIDU	0.96	1.0	0.96	0.93	0.95		0.96	0.98	0.99	FIDU
CGW	0.91	0.95	0.93	0.98	0.94	0.96		0.94	0.97	CGW
FOWF	0.98	0.98	0.99	0.93	0.97	0.98	0.94		0.98	FOWF
EXI	0.95	0.99	0.96	0.95	0.96	0.99	0.97	0.98		EXI
	MISL	DUSL	NATO	NFRA	EUAD	FIDU	CGW	FOWF	EXI

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Gabelli ETFs Constituents Risk-Adjusted Indicators

There is a big difference between Gabelli Etf performing well and Gabelli ETFs ETF 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 ETFs' 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
MISL	0.74	0.31	0.27	0.73	0.40	(0.91)	2.08	(1.34)	4.32
DUSL	2.09	0.44	0.26	0.30	1.86	(2.45)	5.43	(3.01)	14.37
NATO	0.80	0.40	0.28	(3.21)	0.26	(0.92)	2.09	(1.39)	5.43
NFRA	0.50	0.05	(0.06)	0.28	0.53	(0.51)	1.21	(0.92)	3.01
EUAD	1.13	0.39	0.17	2.93	1.10	(1.23)	2.37	(2.28)	8.02
FIDU	0.72	0.16	0.17	0.30	0.45	(0.85)	1.95	(1.02)	5.09
CGW	0.60	0.10	0.05	0.32	0.52	(0.65)	1.55	(1.13)	3.66
FOWF	0.51	0.29	0.27	(2.22)	0.00	(0.67)	1.47	(0.57)	2.66
EXI	0.59	0.17	0.18	0.39	0.26	(0.71)	1.70	(1.02)	3.46

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