Gamco Global Correlations

GTCAX Fund

USD 22.63 0.08 0.35%

The current 90-days correlation between Gamco Global Telecom and Us Government Securities is -0.05 (i.e., Good 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 Telecommunication and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gamco Global Telecommunication 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 Telecommunications. 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 nation.

Moving together with Gamco Mutual Fund

0.73	GCIEX	Gabelli Equity	Pair Corr
0.82	GCIGX	Gamco International	Pair Corr
0.91	EMACX	Enterprise Mergers And	Pair Corr
0.91	EMAAX	Enterprise Mergers And	Pair Corr
0.91	EMAYX	Enterprise Mergers And	Pair Corr
0.75	GUXPX	Gabelli Utilities	Pair Corr
0.92	GVCAX	Gabelli Value	Pair Corr
0.92	GVCCX	Gabelli Value	Pair Corr
0.92	GVCIX	Gabelli Val	Pair Corr
0.85	MLGLX	Gabelli Media Mogul	Pair Corr
0.74	GEICX	Gabelli Equity Income	Pair Corr
0.84	GGCCX	Gabelli Growth	Pair Corr
0.83	GGCIX	Gabelli Growth	Pair Corr
0.61	GGGAX	Gamco Global Growth	Pair Corr
0.61	GGGCX	Gamco Global Growth	Pair Corr
0.61	GGGIX	Gamco Global Growth	Pair Corr
0.88	GGMMX	Gabelli Global Mini	Pair Corr
0.67	GGLCX	Gamco Global Opportunity	Pair Corr
0.85	MOGLX	Gabelli Media Mogul	Pair Corr
0.61	GICPX	Gamco Global Growth	Pair Corr
0.83	GIGRX	Gamco International	Pair Corr
0.91	EAAAX	Enterprise Mergers And	Pair Corr
0.67	GLOIX	Gamco Global Opportunity	Pair Corr
0.88	GMNAX	Gabelli Global Mini	Pair Corr
0.88	GMNCX	Gabelli Global Mini	Pair Corr
0.67	GOCAX	Gamco Global Opportunity	Pair Corr

Related Correlations Analysis

	UGSDX	FITSX	MXDQX	BIGLX	FICMX	FCSCX
UGSDX		-0.34	-0.4	-0.34	-0.33	0.74	UGSDX
FITSX	-0.34		0.98	0.99	1.0	-0.16	FITSX
MXDQX	-0.4	0.98		0.98	0.98	-0.21	MXDQX
BIGLX	-0.34	0.99	0.98		0.99	-0.14	BIGLX
FICMX	-0.33	1.0	0.98	0.99		-0.14	FICMX
FCSCX	0.74	-0.16	-0.21	-0.14	-0.14		FCSCX
	UGSDX	FITSX	MXDQX	BIGLX	FICMX	FCSCX

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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

FICMX	+ 1.0	FITSX
BIGLX	+ 0.99	FITSX
FICMX	+ 0.99	BIGLX
MXDQX	+ 0.98	FITSX
BIGLX	+ 0.98	MXDQX
FICMX	+ 0.98	MXDQX

High negative correlations

MXDQX	- 0.4	UGSDX
BIGLX	- 0.34	UGSDX
FITSX	- 0.34	UGSDX
FICMX	- 0.33	UGSDX
FCSCX	- 0.21	MXDQX
FCSCX	- 0.16	FITSX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
UGSDX	0.05	0.01	0.00	(0.33)	0.00	0.00	0.00	1.03
FITSX	0.26	(0.02)	0.00	(0.13)	0.00	0.57	(0.57)	1.83
MXDQX	0.24	(0.03)	0.00	(0.16)	0.00	0.50	(0.50)	1.75
BIGLX	0.26	(0.02)	0.00	(0.10)	0.00	0.66	(0.55)	1.78
FICMX	0.26	(0.02)	0.00	(0.13)	0.00	0.57	(0.57)	1.72
FCSCX	0.06	0.00	(0.58)	0.35	(0.25)	0.13	(0.13)	0.67

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