Gamco Global Correlations

GICPX Fund

USD 60.88 0.32 0.52%

The current 90-days correlation between Gamco Global Growth and Growth Portfolio Class is 0.1 (i.e., Average 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 Growth and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gamco Global Growth 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 Growth. 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 american community survey.

Moving together with Gamco Mutual Fund

0.62	GCIEX	Gabelli Equity	Pair Corr
0.63	GEICX	Gabelli Equity Income	Pair Corr
0.67	GWSAX	Gabelli Focus	Pair Corr
0.67	GWSCX	Gabelli Focus	Pair Corr
0.67	GWSIX	Gabelli Focus	Pair Corr
0.67	GWSVX	Gabelli Focus	Pair Corr
0.68	GFSIX	Gabelli Global Financial	Pair Corr
0.61	GGCIX	Gabelli Growth	Pair Corr
0.77	GGGAX	Gamco Global Growth	Pair Corr
1.0	GGGIX	Gamco Global Growth	Pair Corr

Related Correlations Analysis

	MSEQX	TACLX	TFAGX	XAWFX	LGLSX	RGELX	DBIWX
MSEQX		-0.12	0.77	0.24	0.9	0.47	-0.04	MSEQX
TACLX	-0.12		0.27	0.67	-0.04	0.61	0.42	TACLX
TFAGX	0.77	0.27		0.62	0.77	0.86	0.41	TFAGX
XAWFX	0.24	0.67	0.62		0.2	0.84	0.73	XAWFX
LGLSX	0.9	-0.04	0.77	0.2		0.47	-0.03	LGLSX
RGELX	0.47	0.61	0.86	0.84	0.47		0.6	RGELX
DBIWX	-0.04	0.42	0.41	0.73	-0.03	0.6		DBIWX
	MSEQX	TACLX	TFAGX	XAWFX	LGLSX	RGELX	DBIWX

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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

LGLSX	+ 0.9	MSEQX
RGELX	+ 0.86	TFAGX
RGELX	+ 0.84	XAWFX
TFAGX	+ 0.77	MSEQX
LGLSX	+ 0.77	TFAGX
DBIWX	+ 0.73	XAWFX

High negative correlations

TACLX	- 0.12	MSEQX
LGLSX	- 0.04	TACLX
DBIWX	- 0.04	MSEQX
DBIWX	- 0.03	LGLSX

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
MSEQX	1.40	0.47	0.24	(3.23)	1.28	(1.67)	3.23	(1.96)	12.69
TACLX	0.56	(0.01)	(0.07)	0.04	0.74	(0.62)	1.03	(0.97)	5.47
TFAGX	0.73	0.08	0.01	(9.90)	1.04	(0.78)	1.61	(1.60)	5.84
XAWFX	0.12	0.00	(0.23)	(0.30)	0.17	(0.14)	0.18	(0.44)	0.88
LGLSX	1.19	0.17	0.07	0.38	1.57	(1.21)	2.65	(2.44)	8.91
RGELX	0.58	0.03	(0.04)	(1.13)	0.94	(0.54)	1.33	(1.69)	4.33
DBIWX	0.25	0.00	(0.15)	0.15	0.37	(0.26)	0.49	(0.69)	1.86

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