The Gabelli Correlations

Mutual Funds . USA . 
Fund . The Gabelli Small
GCASX Fund  USD 44.15  0.29  0.65%   
The current 90-days correlation between Gabelli Small and Gabelli Esg Fund is 0.93 (i.e., Almost no 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 Small 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 Small 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 Small. 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 state.

Moving together with The Mutual Fund

  0.99SRIGX Gabelli Esg FundPairCorr
  0.98GCFSX Gabelli Global FinancialPairCorr
  0.99GCIEX Gabelli EquityPairCorr
  0.77GCIGX Gamco InternationalPairCorr
  0.97EMACX Enterprise Mergers AndPairCorr
  0.97EMAAX Enterprise Mergers AndPairCorr
  0.97EMAYX Enterprise Mergers AndPairCorr
  0.85GUXPX Gabelli UtilitiesPairCorr
  0.97GVCAX Gabelli ValuePairCorr
  0.97GVCCX Gabelli ValuePairCorr
  0.97GVCIX Gabelli ValPairCorr
  0.95MLGLX Gabelli Media MogulPairCorr
  0.99GEICX Gabelli Equity IncomePairCorr
  0.83GWSAX Gabelli FocusPairCorr
  0.81GWSCX Gabelli FocusPairCorr
  0.83GWSIX Gabelli FocusPairCorr
  0.82GWSVX Gabelli FocusPairCorr
  0.98GFSIX Gabelli Global FinancialPairCorr
  0.96GGCAX Gabelli GrowthPairCorr
  0.96GGCCX Gabelli GrowthPairCorr
  0.96GGCIX Gabelli GrowthPairCorr
  0.98GGFSX Gabelli Global FinancialPairCorr
  0.96GGGAX Gamco Global GrowthPairCorr
  0.96GGGCX Gamco Global GrowthPairCorr
  0.96GGGIX Gamco Global GrowthPairCorr
  0.96GGMMX Gabelli Global MiniPairCorr
  0.83GGLCX Gamco Global OpportunityPairCorr
  0.95MOGLX Gabelli Media MogulPairCorr
  0.96GICPX Gamco Global GrowthPairCorr
  0.79GIIGX Gamco InternationalPairCorr
  0.79GIGRX Gamco InternationalPairCorr
  0.97EAAAX Enterprise Mergers AndPairCorr
  0.83GLOIX Gamco Global OpportunityPairCorr
  0.95DRCVX Comstock Capital ValuePairCorr
  0.96GMNAX Gabelli Global MiniPairCorr
  0.96GMNCX Gabelli Global MiniPairCorr
  0.95COMVX 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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