The Gabelli Correlations

Mutual Funds . USA . 
Fund . The Gabelli Growth
GABGX Fund  USD 115.25  0.08  0.07%   
The current 90-days correlation between Gabelli Growth and The Gabelli Asset is 0.7 (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

Modest diversification

The correlation between The Gabelli Growth and DJI is 0.25 (i.e., Modest 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

  0.62GCIEX Gabelli EquityPairCorr
  0.76EMACX Enterprise Mergers AndPairCorr
  0.77EMAAX Enterprise Mergers AndPairCorr
  0.78EMAYX Enterprise Mergers AndPairCorr
  0.76GVCAX Gabelli ValuePairCorr
  0.76GVCCX Gabelli ValuePairCorr
  0.77GVCIX Gabelli ValPairCorr
  0.65MLGLX Gabelli Media MogulPairCorr
  0.66GEICX Gabelli Equity IncomePairCorr
  0.87GGCAX Gabelli GrowthPairCorr
  1.0GGCCX Gabelli GrowthPairCorr
  1.0GGCIX Gabelli GrowthPairCorr
  0.82GGGAX Gamco Global GrowthPairCorr
  0.82GGGCX Gamco Global GrowthPairCorr
  0.82GGGIX Gamco Global GrowthPairCorr
  0.87GGMMX Gabelli Global MiniPairCorr
  0.66MOGLX Gabelli Media MogulPairCorr
  0.82GICPX Gamco Global GrowthPairCorr
  0.77EAAAX Enterprise Mergers AndPairCorr
  0.91GMNAX Gabelli Global MiniPairCorr
  0.87GMNCX Gabelli Global MiniPairCorr

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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