The Gabelli Correlations

Mutual Funds . USA . 
Fund . The Gabelli Growth
GGCCX Fund  USD 98.06  0.94  0.95%   
The current 90-days correlation between Gabelli Growth and Pace Strategic Fixed is -0.03 (i.e., Good 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 Growth and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Growth 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 Growth. 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

  0.98SRIGX Gabelli Esg FundPairCorr
  0.98GCFSX Gabelli Global FinancialPairCorr
  0.97GCIEX Gabelli EquityPairCorr
  0.76GCIGX Gamco InternationalPairCorr
  0.97EMACX Enterprise Mergers AndPairCorr
  0.97EMAAX Enterprise Mergers AndPairCorr
  0.97EMAYX Enterprise Mergers AndPairCorr
  0.81GUXPX Gabelli UtilitiesPairCorr
  0.98GVCAX Gabelli ValuePairCorr
  0.99GVCCX Gabelli ValuePairCorr
  0.99GVCIX Gabelli ValPairCorr
  0.95MLGLX Gabelli Media MogulPairCorr
  0.97GEICX Gabelli Equity IncomePairCorr
  0.7GWSAX Gabelli FocusPairCorr
  0.67GWSCX Gabelli FocusPairCorr
  0.71GWSIX Gabelli FocusPairCorr
  0.69GWSVX Gabelli FocusPairCorr
  0.98GFSIX Gabelli Global FinancialPairCorr
  0.99GGCAX Gabelli GrowthPairCorr
  1.0GGCIX Gabelli GrowthPairCorr
  0.98GGFSX Gabelli Global FinancialPairCorr
  0.99GGGAX Gamco Global GrowthPairCorr
  1.0GGGCX Gamco Global GrowthPairCorr
  1.0GGGIX Gamco Global GrowthPairCorr
  0.97GGMMX Gabelli Global MiniPairCorr
  0.91GGLCX Gamco Global OpportunityPairCorr
  0.95MOGLX Gabelli Media MogulPairCorr
  1.0GICPX Gamco Global GrowthPairCorr
  0.79GIIGX Gamco InternationalPairCorr
  0.78GIGRX Gamco InternationalPairCorr
  0.97EAAAX Enterprise Mergers AndPairCorr
  0.91GLOIX Gamco Global OpportunityPairCorr
  0.97DRCVX Comstock Capital ValuePairCorr
  0.97GMNAX Gabelli Global MiniPairCorr
  0.97GMNCX Gabelli Global MiniPairCorr
  0.97COMVX Comstock Capital ValuePairCorr

Related Correlations Analysis

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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.

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