The Gabelli Correlations

GATCX Fund

USD 47.17 0.08 0.17%

The current 90-days correlation between Gabelli Asset and Transamerica Emerging Markets is 0.23 (i.e., Modest 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

Significant diversification

The correlation between The Gabelli Asset and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Asset 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 Asset. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with The Mutual Fund

0.94	VTSAX	Vanguard Total Stock	Pair Corr
0.85	VFIAX	Vanguard 500 Index	Pair Corr
0.94	VTSMX	Vanguard Total Stock	Pair Corr
0.94	VITSX	Vanguard Total Stock	Pair Corr
0.94	VSMPX	Vanguard Total Stock	Pair Corr
0.94	VSTSX	Vanguard Total Stock	Pair Corr
0.85	VFINX	Vanguard 500 Index	Pair Corr
0.93	VFFSX	Vanguard 500 Index	Pair Corr
0.93	VINIX	Vanguard Institutional	Pair Corr
0.93	VIIIX	Vanguard Institutional	Pair Corr
0.83	KSCYX	Kinetics Small Cap Steady Growth	Pair Corr
0.77	KSOCX	Kinetics Small Cap Steady Growth	Pair Corr
0.77	KSCOX	Kinetics Small Cap Steady Growth	Pair Corr
0.77	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.79	KINCX	Kinetics Internet	Pair Corr
0.76	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.79	KINAX	Kinetics Internet	Pair Corr
0.81	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.81	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.62	WMT	Walmart Aggressive Push	Pair Corr
0.64	HD	Home Depot	Pair Corr
0.74	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.75	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.61	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.68	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.66	DIS	Walt Disney Aggressive Push	Pair Corr
0.63	BAC	Bank of America Aggressive Push	Pair Corr
0.75	HPQ	HP Inc	Pair Corr

Moving against The Mutual Fund

0.61	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.5	KO	Coca Cola Aggressive Push	Pair Corr
0.5	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	TEOJX	ANGCX	IHIAX	TMSSX	TEGCX	BOGSX	REVIX
TEOJX		0.01	0.38	0.61	0.87	0.44	0.94	TEOJX
ANGCX	0.01		0.79	-0.46	0.23	-0.63	0.03	ANGCX
IHIAX	0.38	0.79		0.03	0.59	-0.14	0.42	IHIAX
TMSSX	0.61	-0.46	0.03		0.54	0.86	0.67	TMSSX
TEGCX	0.87	0.23	0.59	0.54		0.37	0.94	TEGCX
BOGSX	0.44	-0.63	-0.14	0.86	0.37		0.47	BOGSX
REVIX	0.94	0.03	0.42	0.67	0.94	0.47		REVIX
	TEOJX	ANGCX	IHIAX	TMSSX	TEGCX	BOGSX	REVIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

REVIX	+ 0.94	TEOJX
REVIX	+ 0.94	TEGCX
TEGCX	+ 0.87	TEOJX
BOGSX	+ 0.86	TMSSX
IHIAX	+ 0.79	ANGCX
REVIX	+ 0.67	TMSSX

High negative correlations

BOGSX	- 0.63	ANGCX
TMSSX	- 0.46	ANGCX
BOGSX	- 0.14	IHIAX

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
TEOJX	0.66	(0.02)	0.00	0.40	0.00	0.00	1.76	(1.83)	4.91
ANGCX	0.10	(0.01)	(0.78)	0.44	0.11	(0.16)	0.23	(0.23)	0.70
IHIAX	0.19	(0.01)	(0.45)	(0.07)	0.19	(0.30)	0.38	(0.38)	1.65
TMSSX	0.12	(0.01)	(0.65)	0.06	0.00	(0.17)	0.31	(0.21)	0.73
TEGCX	0.67	(0.06)	(0.12)	(0.01)	0.95	(0.68)	1.58	(1.67)	4.99
BOGSX	0.94	(0.09)	(0.04)	0.05	1.37	(0.94)	1.88	(2.25)	5.68
REVIX	0.73	(0.05)	(0.13)	0.00	0.87	(0.87)	1.44	(1.71)	5.60

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC