Gabelli Equity Correlations

GEICX Fund

7.04 0.04 0.57%

The current 90-days correlation between Gabelli Equity Income and Hennessy Technology Fund is 0.19 (i.e., Average diversification). The correlation of Gabelli Equity 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.

Gabelli Equity Correlation With Market

Very poor diversification

The correlation between Gabelli Equity Income and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Equity Income 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 Gabelli Equity Income. 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 services.

Moving together with Gabelli Mutual Fund

0.91	GCFSX	Gabelli Global Financial	Pair Corr
0.61	GCIGX	Gamco International	Pair Corr
0.89	EMAAX	Enterprise Mergers And	Pair Corr
0.91	EMAYX	Enterprise Mergers And	Pair Corr
0.62	GVCAX	Gabelli Value	Pair Corr
0.93	GVCCX	Gabelli Value	Pair Corr
0.75	MLGLX	Gabelli Media Mogul	Pair Corr
0.94	GWSAX	Gabelli Focus	Pair Corr
0.96	GWSCX	Gabelli Focus	Pair Corr
0.91	GFSIX	Gabelli Global Financial	Pair Corr
0.63	GGFSX	Gabelli Global Financial	Pair Corr
0.89	GGMMX	Gabelli Global Mini	Pair Corr
0.88	GGLCX	Gamco Global Opportunity	Pair Corr
0.76	MOGLX	Gabelli Media Mogul	Pair Corr
0.61	WESCX	Teton Westwood Small	Pair Corr
0.67	GICPX	Gamco Global Growth	Pair Corr
0.61	WWSAX	Teton Westwood Small	Pair Corr
0.91	WWSIX	Teton Westwood Small	Pair Corr
0.88	GLDAX	Gabelli Gold Steady Growth	Pair Corr
0.88	GLDCX	Gabelli Gold	Pair Corr
0.63	GLDIX	Gabelli Gold	Pair Corr
0.61	GLOIX	Gamco Global Opportunity	Pair Corr
0.78	DRCVX	Comstock Capital Value	Pair Corr
0.88	GMNAX	Gabelli Global Mini	Pair Corr
0.89	GMNCX	Gabelli Global Mini	Pair Corr

Moving against Gabelli Mutual Fund

0.4

GABGX

Gabelli Growth

Pair Corr

Related Correlations Analysis

	DTSVX	WSMVX	WSMGX	DTSGX	CRSH	ARCX	HICSX	LCAOX	HTECX
DTSVX		0.92	0.77	0.77	-0.32	0.08	0.78	0.86	0.6	DTSVX
WSMVX	0.92		0.7	0.7	-0.3	0.12	0.86	0.83	0.53	WSMVX
WSMGX	0.77	0.7		1.0	-0.37	0.37	0.77	0.74	0.57	WSMGX
DTSGX	0.77	0.7	1.0		-0.38	0.37	0.77	0.73	0.57	DTSGX
CRSH	-0.32	-0.3	-0.37	-0.38		-0.33	-0.07	-0.17	-0.57	CRSH
ARCX	0.08	0.12	0.37	0.37	-0.33		0.23	0.08	-0.06	ARCX
HICSX	0.78	0.86	0.77	0.77	-0.07	0.23		0.76	0.38	HICSX
LCAOX	0.86	0.83	0.74	0.73	-0.17	0.08	0.76		0.54	LCAOX
HTECX	0.6	0.53	0.57	0.57	-0.57	-0.06	0.38	0.54		HTECX
	DTSVX	WSMVX	WSMGX	DTSGX	CRSH	ARCX	HICSX	LCAOX	HTECX

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

DTSGX	+ 1.0	WSMGX
WSMVX	+ 0.92	DTSVX
LCAOX	+ 0.86	DTSVX
HICSX	+ 0.86	WSMVX
LCAOX	+ 0.83	WSMVX
HICSX	+ 0.78	DTSVX

High negative correlations

HTECX	- 0.57	CRSH
CRSH	- 0.38	DTSGX
CRSH	- 0.37	WSMGX
ARCX	- 0.33	CRSH
CRSH	- 0.32	DTSVX
CRSH	- 0.3	WSMVX

Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli Equity 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 Gabelli Equity'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
DTSVX	1.09	0.30	0.36	0.29	0.43	(1.53)	2.88	(1.51)	14.30
WSMVX	1.09	0.42	0.36	(8.72)	0.43	(1.47)	2.90	(1.51)	13.84
WSMGX	1.06	(0.03)	(0.01)	0.06	1.38	(1.03)	2.19	(2.02)	4.96
DTSGX	1.05	(0.03)	(0.01)	0.06	1.35	(0.99)	2.17	(2.05)	5.01
CRSH	1.54	0.07	(0.03)	(0.02)	2.02	(1.59)	2.77	(3.39)	9.34
ARCX	7.20	(1.27)	0.00	(0.12)	0.00	0.00	14.74	(14.65)	32.26
HICSX	0.78	0.10	0.03	1.39	0.90	(0.85)	1.80	(1.61)	3.71
LCAOX	0.75	0.22	0.27	0.42	0.13	(1.11)	0.99	(1.02)	16.46
HTECX	1.41	0.42	0.25	(12.40)	0.93	(1.74)	1.63	(2.23)	30.57

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