The Gabelli Correlations

Mutual Funds . USA . 
Fund . The Gabelli Growth
GABGX Fund  USD 118.24  1.46  1.25%   
The current 90-days correlation between Gabelli Growth and The Gabelli Asset is 0.57 (i.e., Very weak 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 0.62 (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 price.

Moving together with The Mutual Fund

  0.83SRIGX Gabelli Esg FundPairCorr
  0.93GCFSX Gabelli Global FinancialPairCorr
  0.86GCIEX Gabelli EquityPairCorr
  0.91EMACX Enterprise Mergers AndPairCorr
  0.88EMAAX Enterprise Mergers AndPairCorr
  0.91EMAYX Enterprise Mergers AndPairCorr
  0.83GVCAX Gabelli ValuePairCorr
  0.83GVCCX Gabelli ValuePairCorr
  0.84GVCIX Gabelli ValPairCorr
  0.91MLGLX Gabelli Media MogulPairCorr
  0.84GEICX Gabelli Equity IncomePairCorr
  0.76GWSAX Gabelli FocusPairCorr
  0.73GWSCX Gabelli FocusPairCorr
  0.77GWSIX Gabelli FocusPairCorr
  0.76GWSVX Gabelli FocusPairCorr
  0.93GFSIX Gabelli Global FinancialPairCorr
  1.0GGCAX Gabelli GrowthPairCorr
  1.0GGCCX Gabelli GrowthPairCorr
  1.0GGCIX Gabelli GrowthPairCorr
  0.93GGFSX Gabelli Global FinancialPairCorr
  0.97GGGAX Gamco Global GrowthPairCorr
  0.97GGGCX Gamco Global GrowthPairCorr
  0.97GGGIX Gamco Global GrowthPairCorr
  0.93GGMMX Gabelli Global MiniPairCorr
  0.91MOGLX Gabelli Media MogulPairCorr
  0.97GICPX Gamco Global GrowthPairCorr
  0.91EAAAX Enterprise Mergers AndPairCorr
  0.83DRCVX Comstock Capital ValuePairCorr
  0.93GMNAX Gabelli Global MiniPairCorr
  0.93GMNCX Gabelli Global MiniPairCorr
  0.84COMVX Comstock Capital ValuePairCorr

Moving against The Mutual Fund

  0.67GGLCX Gamco Global OpportunityPairCorr
  0.65GCIGX Gamco InternationalPairCorr
  0.63GIIGX Gamco InternationalPairCorr
  0.63GIGRX Gamco InternationalPairCorr
  0.67GLOIX Gamco Global OpportunityPairCorr
  0.67GOCAX Gamco Global OpportunityPairCorr
  0.67GABOX Gamco Global OpportunityPairCorr

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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