The Gabelli Correlations

GCCSX Fund  USD 34.72  0.17  0.49%   
The current 90-days correlation between Gabelli Small and The Gabelli Asset is 0.79 (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 Small and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Small 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 Small. 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 state.

Moving together with The Mutual Fund

  0.72GCIEX Gabelli EquityPairCorr
  0.7GUXPX Gabelli UtilitiesPairCorr
  0.69GVCAX Gabelli ValuePairCorr
  0.7GVCCX Gabelli ValuePairCorr
  0.68GVCIX Gabelli ValPairCorr
  0.73GEICX Gabelli Equity IncomePairCorr
  0.75GWSAX Gabelli FocusPairCorr
  0.76GWSCX Gabelli FocusPairCorr
  0.74GWSIX Gabelli FocusPairCorr
  0.75GWSVX Gabelli FocusPairCorr
  0.62DRCVX Comstock Capital ValuePairCorr

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.