Gabelli Multimedia Correlations
| GGT-PE Preferred Stock | USD 23.22 0.18 0.77% |
The current 90-days correlation between The Gabelli Multimedia and Virtus AllianzGI Convertible is 0.19 (i.e., Average diversification). The correlation of Gabelli Multimedia 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.
Gabelli Multimedia Correlation With Market
Average diversification
The correlation between The Gabelli Multimedia and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Multimedia and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Gabelli Multimedia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gabelli Multimedia when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Gabelli Multimedia - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling The Gabelli Multimedia to buy it.
Moving together with Gabelli Preferred Stock
| 0.7 | PSEC-PA | Prospect Capital | PairCorr |
| 0.64 | STT-PG | State Street | PairCorr |
| 0.75 | PFG | Principal Financial | PairCorr |
| 0.82 | NTRSO | Northern Trust | PairCorr |
| 0.76 | GGN-PB | GAMCO Global Gold | PairCorr |
| 0.88 | OAK-PA | Oaktree Capital Group | PairCorr |
| 0.82 | OAK-PB | Oaktree Capital Group | PairCorr |
| 0.73 | GAINN | Gladstone Investment | PairCorr |
| 0.89 | ECF-PA | Ellsworth Growth | PairCorr |
Moving against Gabelli Preferred Stock
| 0.62 | CIXXF | CI Financial Corp | PairCorr |
| 0.43 | JPPYY | Jupai Holdings | PairCorr |
| 0.37 | BCGWW | Binah Capital Group, | PairCorr |
| 0.41 | TRAC | Track Data | PairCorr |
| 0.31 | L | Loews Corp Sell-off Trend | PairCorr |
| 0.43 | IX | Orix Corp Ads | PairCorr |
| 0.34 | HG | Hamilton Insurance Group, | PairCorr |
Related Correlations Analysis
| 0.88 | 0.04 | 0.72 | 0.89 | 0.8 | NCV-PA | ||
| 0.88 | 0.32 | 0.71 | 0.97 | 0.59 | GAB-PG | ||
| 0.04 | 0.32 | 0.14 | 0.35 | -0.34 | OXLCO | ||
| 0.72 | 0.71 | 0.14 | 0.75 | 0.42 | GUT-PC | ||
| 0.89 | 0.97 | 0.35 | 0.75 | 0.58 | GAB-PH | ||
| 0.8 | 0.59 | -0.34 | 0.42 | 0.58 | TY-P | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Gabelli Preferred Stock performing well and Gabelli Multimedia Company 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 Multimedia'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NCV-PA | 0.47 | 0.03 | (0.13) | (0.18) | 0.66 | 1.08 | 3.97 | |||
| GAB-PG | 0.71 | 0.10 | (0.02) | 31.73 | 0.76 | 1.68 | 5.27 | |||
| OXLCO | 0.30 | 0.04 | (0.22) | 1.92 | 0.23 | 0.89 | 2.32 | |||
| GUT-PC | 0.54 | (0.01) | (0.15) | 0.07 | 0.61 | 1.30 | 2.93 | |||
| GAB-PH | 0.44 | 0.11 | (0.02) | (6.18) | 0.36 | 1.17 | 3.34 | |||
| TY-P | 0.39 | (0.04) | 0.00 | 0.36 | 0.00 | 1.05 | 4.15 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Gabelli Multimedia without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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