Gabelli Global Correlations

Mutual Funds USA . 
Fund . Gabelli Global Mini
GMNCX Fund  USD 11.17  0.14  1.27%   
The current 90-days correlation between Gabelli Global Mini and Gabelli Esg Fund is 0.87 (i.e., Very poor diversification). The correlation of Gabelli Global 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 Global Correlation With Market

Poor diversification

The correlation between Gabelli Global Mini and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Global Mini 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 Global Mini. 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

  0.97SRIGX Gabelli Esg FundPairCorr
  0.97GCFSX Gabelli Global FinancialPairCorr
  0.96GCIEX Gabelli EquityPairCorr
  0.76GCIGX Gamco InternationalPairCorr
  0.98EMACX Enterprise Mergers AndPairCorr
  0.97EMAAX Enterprise Mergers AndPairCorr
  0.98EMAYX Enterprise Mergers AndPairCorr
  0.83GUXPX Gabelli UtilitiesPairCorr
  0.98GVCAX Gabelli ValuePairCorr
  0.97GVCCX Gabelli ValuePairCorr
  0.98GVCIX Gabelli ValPairCorr
  0.95MLGLX Gabelli Media MogulPairCorr
  0.95GEICX Gabelli Equity IncomePairCorr
  0.74GWSAX Gabelli FocusPairCorr
  0.71GWSCX Gabelli FocusPairCorr
  0.75GWSIX Gabelli FocusPairCorr
  0.73GWSVX Gabelli FocusPairCorr
  0.97GFSIX Gabelli Global FinancialPairCorr
  0.97GGCAX Gabelli GrowthPairCorr
  0.98GGCCX Gabelli GrowthPairCorr
  0.98GGCIX Gabelli GrowthPairCorr
  0.97GGFSX Gabelli Global FinancialPairCorr
  0.97GGGAX Gamco Global GrowthPairCorr
  0.98GGGCX Gamco Global GrowthPairCorr
  0.98GGGIX Gamco Global GrowthPairCorr
  0.98GGMMX Gabelli Global MiniPairCorr
  0.94GGLCX Gamco Global OpportunityPairCorr
  0.95MOGLX Gabelli Media MogulPairCorr
  0.98GICPX Gamco Global GrowthPairCorr
  0.78GIIGX Gamco InternationalPairCorr
  0.78GIGRX Gamco InternationalPairCorr
  0.98EAAAX Enterprise Mergers AndPairCorr
  0.94GLOIX Gamco Global OpportunityPairCorr
  0.98DRCVX Comstock Capital ValuePairCorr
  0.98GMNAX Gabelli Global MiniPairCorr
  0.97COMVX 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 Global 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 Global'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  0.62  0.07  0.04  0.22  0.57 
(0.70)
 1.62 
(1.39)
 4.23 
GCFSX  0.65  0.29  0.17 (1.93) 0.35 
(0.78)
 1.94 
(1.19)
 3.94 
GCIEX  0.58  0.17  0.03 (2.06) 0.44 
(0.66)
 1.53 
(1.19)
 3.60 
GCIGX  0.62  0.08 (0.08)(1.38) 0.71 
(0.64)
 1.16 
(1.19)
 3.45 
EMACX  0.44  0.09  0.02  0.32  0.42 
(0.48)
 0.97 
(0.89)
 2.64 
EMAAX  0.44  0.16  0.02 (2.12) 0.45 
(0.47)
 0.97 
(0.89)
 2.67 
EMAYX  0.41  0.09  0.03  0.35  0.39 
(0.46)
 0.94 
(0.82)
 2.67 
GUXPX  0.58  0.09 (0.06)(2.16) 0.66 
(0.66)
 0.94 
(1.47)
 3.69 
GVCAX  0.48  0.19  0.05 (2.29) 0.50 
(0.53)
 1.03 
(1.11)
 3.40 
GVCCX  0.51  0.19  0.04 (2.08) 0.52 
(0.55)
 1.11 
(1.12)
 3.38 

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