Gdl Closed Correlations

GDL Fund

USD 8.37 0.01 0.12%

The current 90-days correlation between Gdl Closed Fund and Bancroft Fund Limited is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Gdl Closed moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gdl Closed Fund moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Gdl Closed Correlation With Market

Good diversification

The correlation between Gdl Closed Fund and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gdl Closed Fund 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 Gdl Closed Fund. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Gdl Fund

0.81	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.81	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.61	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.7	EMO	Clearbridge Energy Mlp	Pair Corr
0.85	RSNYX	Victory Global Natural	Pair Corr
0.86	RSNRX	Victory Global Natural	Pair Corr
0.62	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.87	RTIYX	Select International	Pair Corr
0.87	QCENX	Aqr Large Cap	Pair Corr
0.86	DNP	Dnp Select Income	Pair Corr
0.78	ASLAX	Ab Select Longshort	Pair Corr
0.83	NBICX	Columbia Capital All	Pair Corr
0.85	ECFAX	Eaton Vance Floating	Pair Corr
0.86	IRMAX	Voya Russelltm Mid	Pair Corr
0.85	JRTTX	Retirement Living Through	Pair Corr
0.86	IEGYX	Invesco International	Pair Corr
0.84	JPDVX	Jpmorgan Diversified	Pair Corr
0.88	ACAZX	Alger Capital Apprec	Pair Corr
0.81	DFEVX	Emerging Markets Value	Pair Corr
0.84	TBLGX	T Rowe Price	Pair Corr
0.86	MBAGX	Mfs Aggressive Growth	Pair Corr
0.87	ACIHX	American Century Growth	Pair Corr
0.82	PXSCX	Pax Small Cap	Pair Corr
0.62	FDBIX	Federated Bond	Pair Corr
0.85	QCEQIX	Cref Equity Index	Pair Corr
0.72	GDICX	Goldman Sachs Short	Pair Corr
0.86	FNIDX	Fidelity Intl Sustai	Pair Corr
0.82	ALSAX	Alger Smallcap Growth	Pair Corr
0.85	PAFGX	T Rowe Price	Pair Corr
0.86	MFJTX	Mfs Lifetime 2060	Pair Corr
0.82	AMINX	Amana Income	Pair Corr
0.66	TMSSX	T Rowe Price	Pair Corr
0.85	PFGKX	Pioneer Fundamental	Pair Corr
0.66	THIMX	Thornburg Intermediate	Pair Corr

Related Correlations Analysis

	MHN	BCV	BWG	GCV	CXH	GRX	GGT	GGZ	IAE
MHN		0.05	0.26	-0.04	0.75	0.49	0.0	0.08	-0.04	MHN
BCV	0.05		0.82	0.97	0.07	-0.23	-0.21	0.97	0.97	BCV
BWG	0.26	0.82		0.75	0.21	0.0	0.22	0.8	0.72	BWG
GCV	-0.04	0.97	0.75		0.05	-0.27	-0.2	0.91	0.97	GCV
CXH	0.75	0.07	0.21	0.05		0.36	-0.13	0.1	0.04	CXH
GRX	0.49	-0.23	0.0	-0.27	0.36		0.17	-0.18	-0.23	GRX
GGT	0.0	-0.21	0.22	-0.2	-0.13	0.17		-0.29	-0.34	GGT
GGZ	0.08	0.97	0.8	0.91	0.1	-0.18	-0.29		0.96	GGZ
IAE	-0.04	0.97	0.72	0.97	0.04	-0.23	-0.34	0.96		IAE
	MHN	BCV	BWG	GCV	CXH	GRX	GGT	GGZ	IAE

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

GCV	+ 0.97	BCV
GGZ	+ 0.97	BCV
IAE	+ 0.97	BCV
IAE	+ 0.97	GCV
IAE	+ 0.96	GGZ
GGZ	+ 0.91	GCV

High negative correlations

IAE	- 0.34	GGT
GGZ	- 0.29	GGT
GRX	- 0.27	GCV
IAE	- 0.23	GRX
GRX	- 0.23	BCV
GGT	- 0.21	BCV

Risk-Adjusted Indicators

There is a big difference between Gdl Fund performing well and Gdl Closed 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 Gdl Closed'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MHN	0.49	(0.07)	0.00	(0.07)	0.00	0.00	1.02	(1.03)	4.35
BCV	0.68	0.28	0.15	36.47	0.53	(0.79)	1.58	(1.12)	4.59
BWG	0.46	0.13	(0.02)	(4.19)	0.34	(0.56)	1.00	(0.63)	3.25
GCV	0.61	0.20	0.12	0.89	0.44	(0.81)	1.70	(1.21)	3.77
CXH	0.32	(0.06)	0.00	(0.21)	0.00	0.00	0.53	(0.93)	1.86
GRX	0.75	(0.12)	0.00	(0.04)	0.00	0.00	1.61	(1.60)	5.01
GGT	0.76	0.04	(0.09)	(0.20)	0.95	(0.96)	1.75	(1.54)	8.25
GGZ	0.66	0.27	0.11	(2.07)	0.66	(0.75)	1.50	(1.25)	3.87
IAE	0.59	0.24	0.21	0.64	0.11	(0.78)	1.94	(1.02)	3.50

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