The Gabelli Correlations

GWSCX Fund

USD 13.04 0.26 2.03%

The current 90-days correlation between Gabelli Focus and Nuveen Global Infrastructure is -0.11 (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 Focus and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Focus 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 Focus. 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 private.

Moving together with The Mutual Fund

0.91	GWSAX	Gabelli Focus	Pair Corr
1.0	GWSIX	Gabelli Focus	Pair Corr
0.95	GWSVX	Gabelli Focus	Pair Corr

Moving against The Mutual Fund

0.84	GUXPX	Gabelli Utilities	Pair Corr
0.81	GEICX	Gabelli Equity Income	Pair Corr
0.69	GCIGX	Gamco International	Pair Corr
0.67	GGCAX	Gabelli Growth	Pair Corr
0.32	GVCIX	Gabelli Val	Pair Corr
0.71	GIIGX	Gamco International	Pair Corr
0.69	DRCVX	Comstock Capital Value	Pair Corr
0.67	GGGAX	Gamco Global Growth	Pair Corr
0.63	GIGRX	Gamco International	Pair Corr
0.63	GLDAX	Gabelli Gold	Pair Corr
0.62	GLDCX	Gabelli Gold	Pair Corr
0.61	GGCIX	Gabelli Growth	Pair Corr
0.6	GGCCX	Gabelli Growth	Pair Corr
0.59	GGLCX	Gamco Global Opportunity	Pair Corr
0.59	GLDIX	Gabelli Gold	Pair Corr
0.58	GGGCX	Gamco Global Growth	Pair Corr
0.58	GGGIX	Gamco Global Growth	Pair Corr
0.58	GICPX	Gamco Global Growth	Pair Corr
0.43	GLOIX	Gamco Global Opportunity	Pair Corr
0.79	GABUX	Gabelli Utilities	Pair Corr
0.69	COMVX	Comstock Capital Value	Pair Corr

Related Correlations Analysis

	FGIAX	CAEIX	CABIX	LFLCX	DHGCX	DHGAX
FGIAX		0.77	0.73	0.5	0.6	0.63	FGIAX
CAEIX	0.77		0.96	0.72	0.82	0.84	CAEIX
CABIX	0.73	0.96		0.83	0.91	0.92	CABIX
LFLCX	0.5	0.72	0.83		0.89	0.89	LFLCX
DHGCX	0.6	0.82	0.91	0.89		1.0	DHGCX
DHGAX	0.63	0.84	0.92	0.89	1.0		DHGAX
	FGIAX	CAEIX	CABIX	LFLCX	DHGCX	DHGAX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FGIAX	0.38	0.00	(0.08)	0.36	0.49	(0.39)	0.77	(0.77)	2.00
CAEIX	0.75	0.02	0.02	0.06	0.98	(0.74)	1.48	(1.83)	5.24
CABIX	0.35	0.02	0.01	0.09	0.40	(0.36)	0.88	(0.71)	2.28
LFLCX	0.15	0.02	(0.10)	6.60	0.00	(0.19)	0.33	(0.32)	0.86
DHGCX	0.12	0.01	(0.20)	0.38	0.00	(0.15)	0.26	(0.20)	0.77
DHGAX	0.13	0.01	(0.18)	0.52	0.00	(0.15)	0.25	(0.20)	0.74

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