Gabelli Global Correlations

Mutual Funds . USA . 
Fund . Gabelli Global Mini
GMNCX Fund  USD 12.11  0.06  0.50%   
The current 90-days correlation between Gabelli Global Mini and Kinetics Small Cap is 0.51 (i.e., Very weak diversification). The correlation of Gabelli 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.

Gabelli Global Correlation With Market

Very poor diversification

The correlation between Gabelli Global Mini and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Global Mini 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 Global Mini. 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 Gabelli Mutual Fund

  0.97GCFSX Gabelli Global FinancialPairCorr
  0.9GCIEX Gabelli EquityPairCorr
  0.96EMACX Enterprise Mergers AndPairCorr
  0.92EMAAX Enterprise Mergers AndPairCorr
  0.97EMAYX Enterprise Mergers AndPairCorr
  0.89GVCAX Gabelli ValuePairCorr
  0.88GVCCX Gabelli ValuePairCorr
  0.89GVCIX Gabelli ValPairCorr
  0.93MLGLX Gabelli Media MogulPairCorr
  0.89GEICX Gabelli Equity IncomePairCorr
  0.79GWSAX Gabelli FocusPairCorr
  0.77GWSCX Gabelli FocusPairCorr
  0.79GWSIX Gabelli FocusPairCorr
  0.74GWSVX Gabelli FocusPairCorr
  0.97GFSIX Gabelli Global FinancialPairCorr
  0.93GGCAX Gabelli GrowthPairCorr
  0.93GGCCX Gabelli GrowthPairCorr
  0.93GGCIX Gabelli GrowthPairCorr
  0.97GGFSX Gabelli Global FinancialPairCorr
  0.85GGGAX Gamco Global GrowthPairCorr
  0.89GGGCX Gamco Global GrowthPairCorr
  0.85GGGIX Gamco Global GrowthPairCorr
  1.0GGMMX Gabelli Global MiniPairCorr
  0.93MOGLX Gabelli Media MogulPairCorr
  0.89GICPX Gamco Global GrowthPairCorr
  0.97EAAAX Enterprise Mergers AndPairCorr
  0.77DRCVX Comstock Capital ValuePairCorr
  1.0GMNAX Gabelli Global MiniPairCorr
  0.79COMVX Comstock Capital ValuePairCorr

Moving against Gabelli Mutual Fund

  0.73GCIGX Gamco InternationalPairCorr
  0.74GGLCX Gamco Global OpportunityPairCorr
  0.74GLOIX Gamco Global OpportunityPairCorr
  0.72GIGRX Gamco InternationalPairCorr
  0.71GIIGX Gamco InternationalPairCorr
  0.74GOCAX Gamco Global OpportunityPairCorr
  0.74GABOX Gamco Global OpportunityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli 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 Gabelli 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.

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