The Gabelli Correlations

Mutual Funds USA . 
Fund . The Gabelli Abc
GABCX Fund  USD 11.40  0.02  0.18%   
The current 90-days correlation between Gabelli Abc and Pace Smallmedium Value is 0.77 (i.e., Poor 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 Abc and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Abc 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 Abc. 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

  0.82SRIGX Gabelli Esg FundPairCorr
  0.97GCFSX Gabelli Global FinancialPairCorr
  0.85GCIEX Gabelli EquityPairCorr
  0.94EMACX Enterprise Mergers AndPairCorr
  0.91EMAAX Enterprise Mergers AndPairCorr
  0.95EMAYX Enterprise Mergers AndPairCorr
  0.84GVCAX Gabelli ValuePairCorr
  0.83GVCCX Gabelli ValuePairCorr
  0.85GVCIX Gabelli ValPairCorr
  0.96MLGLX Gabelli Media MogulPairCorr
  0.84GEICX Gabelli Equity IncomePairCorr
  0.74GWSAX Gabelli FocusPairCorr
  0.69GWSCX Gabelli FocusPairCorr
  0.75GWSIX Gabelli FocusPairCorr
  0.74GWSVX Gabelli FocusPairCorr
  0.97GFSIX Gabelli Global FinancialPairCorr
  0.92GGCAX Gabelli GrowthPairCorr
  0.92GGCCX Gabelli GrowthPairCorr
  0.93GGCIX Gabelli GrowthPairCorr
  0.97GGFSX Gabelli Global FinancialPairCorr
  0.87GGGAX Gamco Global GrowthPairCorr
  0.87GGGCX Gamco Global GrowthPairCorr
  0.87GGGIX Gamco Global GrowthPairCorr
  0.87GICPX Gamco Global GrowthPairCorr
  0.95EAAAX Enterprise Mergers AndPairCorr
  0.81DRCVX Comstock Capital ValuePairCorr
  0.97GMNAX Gabelli Global MiniPairCorr
  0.97GMNCX Gabelli Global MiniPairCorr
  0.83COMVX Comstock Capital ValuePairCorr
  0.81CPCRX Comstock Capital ValuePairCorr

Moving against The Mutual Fund

  0.74GGLCX Gamco Global OpportunityPairCorr
  0.71GCIGX Gamco InternationalPairCorr
  0.69GIIGX Gamco InternationalPairCorr
  0.69GIGRX Gamco InternationalPairCorr
  0.74GLOIX Gamco Global OpportunityPairCorr
  0.74GOCAX Gamco Global OpportunityPairCorr
  0.74GABOX Gamco Global OpportunityPairCorr
  0.7GAIGX Gamco InternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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