Gamco Global Correlations

GACCX Fund

USD 26.76 0.16 0.60%

The current 90-days correlation between Gamco Global and Transamerica Funds is -0.13 (i.e., Good diversification). The correlation of Gamco 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.

Gamco Global Correlation With Market

Poor diversification

The correlation between The Gamco Global and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gamco Global 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 Gamco Global. 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 Gamco Mutual Fund

0.72	GCIEX	Gabelli Equity	Pair Corr
0.62	EMACX	Enterprise Mergers And	Pair Corr
0.62	EMAAX	Enterprise Mergers And	Pair Corr
0.61	EMAYX	Enterprise Mergers And	Pair Corr
0.73	GVCAX	Gabelli Value	Pair Corr
0.74	GVCCX	Gabelli Value	Pair Corr
0.73	GVCIX	Gabelli Val	Pair Corr
0.62	MLGLX	Gabelli Media Mogul	Pair Corr
0.73	GEICX	Gabelli Equity Income	Pair Corr
0.72	GWSAX	Gabelli Focus	Pair Corr
0.73	GWSCX	Gabelli Focus	Pair Corr
0.72	GWSIX	Gabelli Focus	Pair Corr
0.73	GWSVX	Gabelli Focus	Pair Corr
0.64	GGGAX	Gamco Global Growth	Pair Corr
0.64	GGGCX	Gamco Global Growth	Pair Corr
0.64	GGGIX	Gamco Global Growth	Pair Corr
0.62	MOGLX	Gabelli Media Mogul	Pair Corr
0.64	GICPX	Gamco Global Growth	Pair Corr
0.62	EAAAX	Enterprise Mergers And	Pair Corr
0.75	DRCVX	Comstock Capital Value	Pair Corr
0.74	COMVX	Comstock Capital Value	Pair Corr

Related Correlations Analysis

	IMLXX	SMAAX	FLPXX	CHNTX	DSHXX	ESDIX	AMAXX
IMLXX		-0.53	1.0	0.71	0.97	0.65	1.0	IMLXX
SMAAX	-0.53		-0.53	-0.44	-0.5	-0.21	-0.53	SMAAX
FLPXX	1.0	-0.53		0.71	0.97	0.65	1.0	FLPXX
CHNTX	0.71	-0.44	0.71		0.71	0.5	0.71	CHNTX
DSHXX	0.97	-0.5	0.97	0.71		0.71	0.97	DSHXX
ESDIX	0.65	-0.21	0.65	0.5	0.71		0.65	ESDIX
AMAXX	1.0	-0.53	1.0	0.71	0.97	0.65		AMAXX
	IMLXX	SMAAX	FLPXX	CHNTX	DSHXX	ESDIX	AMAXX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FLPXX	+ 1.0	IMLXX
AMAXX	+ 1.0	IMLXX
AMAXX	+ 1.0	FLPXX
DSHXX	+ 0.97	IMLXX
DSHXX	+ 0.97	FLPXX
AMAXX	+ 0.97	DSHXX

High negative correlations

AMAXX	- 0.53	SMAAX
FLPXX	- 0.53	SMAAX
SMAAX	- 0.53	IMLXX
DSHXX	- 0.5	SMAAX
CHNTX	- 0.44	SMAAX
ESDIX	- 0.21	SMAAX

Risk-Adjusted Indicators

There is a big difference between Gamco Mutual Fund performing well and Gamco 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 Gamco 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IMLXX	0.03	0.01	0.00	(2.04)	0.00	0.00	0.00	0.00	1.01
SMAAX	0.12	0.00	(0.44)	0.10	0.18	(0.17)	0.20	(0.30)	0.99
FLPXX	0.03	0.01	0.00	(2.04)	0.00	0.00	0.00	0.00	1.01
CHNTX	0.50	0.02	(0.01)	0.15	0.42	(0.57)	0.97	(0.80)	3.50
DSHXX	0.03	0.00	0.00	1.06	0.00	0.00	0.00	0.00	1.01
ESDIX	0.05	0.00	(0.75)	0.74	0.00	(0.17)	0.11	(0.11)	0.68
AMAXX	0.03	0.01	0.00	(2.04)	0.00	0.00	0.00	0.00	1.01

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