Gamco Global Correlations

GGLCX Fund

USD 10.57 0.04 0.38%

The current 90-days correlation between Gamco Global Opportunity and Rbc Bluebay Global is 0.33 (i.e., Weak 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

Weak diversification

The correlation between Gamco Global Opportunity and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gamco Global Opportunity 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 Gamco Global Opportunity. 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

0.93	GCIGX	Gamco International	Pair Corr
0.92	GIIGX	Gamco International	Pair Corr
0.92	GIGRX	Gamco International	Pair Corr
1.0	GLOIX	Gamco Global Opportunity	Pair Corr

Moving against Gamco Mutual Fund

0.78	GCFSX	Gabelli Global Financial	Pair Corr
0.78	GFSIX	Gabelli Global Financial	Pair Corr
0.67	MLGLX	Gabelli Media Mogul	Pair Corr
0.6	EMAAX	Enterprise Mergers And	Pair Corr
0.59	EMAYX	Enterprise Mergers And	Pair Corr
0.56	EMACX	Enterprise Mergers And	Pair Corr
0.48	GCIEX	Gabelli Equity	Pair Corr
0.48	GVCIX	Gabelli Val	Pair Corr
0.47	GVCAX	Gabelli Value	Pair Corr
0.46	GVCCX	Gabelli Value	Pair Corr
0.46	GEICX	Gabelli Equity Income	Pair Corr
0.38	SRIGX	Gabelli Esg Fund	Pair Corr
0.33	GWSIX	Gabelli Focus	Pair Corr
0.32	GWSAX	Gabelli Focus	Pair Corr
0.32	GWSVX	Gabelli Focus	Pair Corr
0.31	GWSCX	Gabelli Focus	Pair Corr
0.78	GGFSX	Gabelli Global Financial	Pair Corr
0.74	GGMMX	Gabelli Global Mini	Pair Corr
0.7	MOGLX	Gabelli Media Mogul	Pair Corr
0.67	GGCAX	Gabelli Growth	Pair Corr
0.67	GGCCX	Gabelli Growth	Pair Corr
0.67	GGCIX	Gabelli Growth	Pair Corr
0.58	EAAAX	Enterprise Mergers And	Pair Corr
0.54	GGGAX	Gamco Global Growth	Pair Corr
0.54	GGGCX	Gamco Global Growth	Pair Corr
0.54	GICPX	Gamco Global Growth	Pair Corr
0.53	GGGIX	Gamco Global Growth	Pair Corr
0.74	GABCX	Gabelli Abc	Pair Corr
0.73	GMNCX	Gabelli Global Mini	Pair Corr
0.72	GMNAX	Gabelli Global Mini	Pair Corr
0.7	GABBX	Gabelli Dividend	Pair Corr

Related Correlations Analysis

	RGHYX	RSHMX	TSDUX	LSHEX	FOAFX	PBXIX	PBBIX	MGGYX
RGHYX		0.36	0.73	0.64	0.07	0.83	0.8	0.41	RGHYX
RSHMX	0.36		-0.16	-0.18	0.7	0.02	0.33	0.71	RSHMX
TSDUX	0.73	-0.16		0.94	-0.56	0.92	0.74	-0.1	TSDUX
LSHEX	0.64	-0.18	0.94		-0.63	0.9	0.66	-0.22	LSHEX
FOAFX	0.07	0.7	-0.56	-0.63		-0.41	-0.15	0.72	FOAFX
PBXIX	0.83	0.02	0.92	0.9	-0.41		0.76	0.06	PBXIX
PBBIX	0.8	0.33	0.74	0.66	-0.15	0.76		0.24	PBBIX
MGGYX	0.41	0.71	-0.1	-0.22	0.72	0.06	0.24		MGGYX
	RGHYX	RSHMX	TSDUX	LSHEX	FOAFX	PBXIX	PBBIX	MGGYX

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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

LSHEX	+ 0.94	TSDUX
PBXIX	+ 0.92	TSDUX
PBXIX	+ 0.9	LSHEX
PBXIX	+ 0.83	RGHYX
PBBIX	+ 0.8	RGHYX
PBBIX	+ 0.76	PBXIX

High negative correlations

FOAFX	- 0.63	LSHEX
FOAFX	- 0.56	TSDUX
PBXIX	- 0.41	FOAFX
MGGYX	- 0.22	LSHEX
LSHEX	- 0.18	RSHMX
TSDUX	- 0.16	RSHMX

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
RGHYX	0.09	0.01	(0.64)	0.29	0.00	(0.14)	0.20	(0.20)	0.51
RSHMX	0.25	0.03	(0.21)	(0.12)	0.36	(0.28)	0.53	(0.52)	1.98
TSDUX	0.04	0.00	0.00	0.00	0.00	0.00	0.10	0.00	0.10
LSHEX	1.46	0.63	0.31	0.66	1.36	(1.74)	3.44	(2.10)	7.85
FOAFX	0.10	(0.01)	(0.83)	2.75	0.10	(0.13)	0.20	(0.20)	0.60
PBXIX	0.32	0.09	(0.06)	1.14	0.00	(0.42)	0.87	(0.55)	1.94
PBBIX	0.12	0.02	(0.63)	(0.40)	0.00	(0.19)	0.29	(0.20)	0.98
MGGYX	0.20	0.01	(0.42)	(0.31)	0.20	(0.22)	0.34	(0.45)	0.91

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