Gabelli Equity Correlations

Mutual Funds . USA . 
Fund . Gabelli Equity Income
GEICX Fund   7.41  0.08  1.09%   
The current 90-days correlation between Gabelli Equity Income and Wasatch Large Cap is -0.16 (i.e., Good diversification). The correlation of Gabelli Equity 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.

Gabelli Equity Correlation With Market

Average diversification

The correlation between Gabelli Equity Income and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Equity Income 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 Gabelli Equity Income. 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 Gabelli Mutual Fund

  0.97GCFSX Gabelli Global FinancialPairCorr
  0.79GCIGX Gamco InternationalPairCorr
  0.95EMACX Enterprise Mergers AndPairCorr
  0.95EMAYX Enterprise Mergers AndPairCorr
  0.86GUXPX Gabelli UtilitiesPairCorr
  0.98GVCCX Gabelli ValuePairCorr
  0.98GVCIX Gabelli ValPairCorr
  0.91MLGLX Gabelli Media MogulPairCorr
  0.72GWSAX Gabelli FocusPairCorr
  0.69GWSCX Gabelli FocusPairCorr
  0.72GWSIX Gabelli FocusPairCorr
  0.71GWSVX Gabelli FocusPairCorr
  0.98GFSIX Gabelli Global FinancialPairCorr
  0.97GGCAX Gabelli GrowthPairCorr
  0.96GGCIX Gabelli GrowthPairCorr
  0.98GGFSX Gabelli Global FinancialPairCorr
  0.98GGGAX Gamco Global GrowthPairCorr
  0.96GGGCX Gamco Global GrowthPairCorr
  0.96GGGIX Gamco Global GrowthPairCorr
  0.97GGMMX Gabelli Global MiniPairCorr
  0.86GGLCX Gamco Global OpportunityPairCorr
  0.94MOGLX Gabelli Media MogulPairCorr
  0.96GICPX Gamco Global GrowthPairCorr
  0.82GIIGX Gamco InternationalPairCorr
  0.81GIGRX Gamco InternationalPairCorr
  0.95EAAAX Enterprise Mergers AndPairCorr
  0.95DRCVX Comstock Capital ValuePairCorr
  0.97GMNAX Gabelli Global MiniPairCorr
  0.95GMNCX 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 Gabelli Mutual Fund performing well and Gabelli Equity 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 Gabelli Equity'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
FMIEX  0.42  0.13 (0.10)(0.67) 0.30 
(0.48)
 1.00 
(0.77)
 2.32 
FMIHX  0.57  0.16 (0.04)(1.06) 0.55 
(0.67)
 1.49 
(1.19)
 4.32 
GABAX  0.48  0.16 (0.04)(1.26) 0.46 
(0.54)
 1.06 
(1.05)
 3.52 
GABSX  0.84  0.22  0.03 (1.12) 0.83 
(0.97)
 2.11 
(1.83)
 5.81 
SRIGX  0.56  0.05 (0.01) 0.26  0.53 
(0.63)
 1.52 
(1.21)
 4.23 
GCFSX  0.64  0.29  0.12 (1.92) 0.35 
(0.77)
 1.94 
(1.19)
 3.94 
GCIEX  0.54  0.08  0.01  0.33  0.36 
(0.64)
 1.47 
(0.96)
 3.33 
GCIGX  0.62  0.09 (0.12)(1.55) 0.70 
(0.64)
 1.16 
(1.19)
 3.45 
EMACX  0.44  0.16 (0.03)(2.47) 0.42 
(0.48)
 0.97 
(0.89)
 2.64 
EMAAX  0.40  0.08 (0.05) 0.40  0.41 
(0.43)
 0.86 
(0.84)
 2.23 

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