Gabelli Utilities Correlations

GUXPX Fund

6.19 0.02 0.32%

The current 90-days correlation between Gabelli Utilities and Origin Emerging Markets is 0.01 (i.e., Significant diversification). The correlation of Gabelli Utilities 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 Utilities Correlation With Market

Average diversification

The correlation between Gabelli Utilities and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Utilities 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 Utilities. 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 Gabelli Mutual Fund

0.63	SO	Southern	Pair Corr
0.63	ATO	Atmos Energy	Pair Corr
0.67	BEP	Brookfield Renewable	Pair Corr
0.7	BIP	Brookfield Infrastructure	Pair Corr
0.64	BKH	Black Hills	Pair Corr
0.64	CEG	Constellation Energy Corp Buyout Trend	Pair Corr
0.72	CMS	CMS Energy	Pair Corr
0.65	CNP	CenterPoint Energy	Pair Corr

Moving against Gabelli Mutual Fund

0.42

Hawaiian Electric

Pair Corr

Related Correlations Analysis

	POEIX	QMNIX	REMVX	SPMIX	QLERX	BXECX	PIEFX	PWEAX
POEIX		-0.12	0.94	0.42	0.11	0.63	0.97	0.94	POEIX
QMNIX	-0.12		-0.4	0.71	0.96	-0.32	-0.07	-0.2	QMNIX
REMVX	0.94	-0.4		0.12	-0.19	0.74	0.89	0.94	REMVX
SPMIX	0.42	0.71	0.12		0.85	0.06	0.46	0.32	SPMIX
QLERX	0.11	0.96	-0.19	0.85		-0.14	0.16	0.01	QLERX
BXECX	0.63	-0.32	0.74	0.06	-0.14		0.55	0.69	BXECX
PIEFX	0.97	-0.07	0.89	0.46	0.16	0.55		0.92	PIEFX
PWEAX	0.94	-0.2	0.94	0.32	0.01	0.69	0.92		PWEAX
	POEIX	QMNIX	REMVX	SPMIX	QLERX	BXECX	PIEFX	PWEAX

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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

PIEFX	+ 0.97	POEIX
QLERX	+ 0.96	QMNIX
REMVX	+ 0.94	POEIX
PWEAX	+ 0.94	POEIX
PWEAX	+ 0.94	REMVX
PWEAX	+ 0.92	PIEFX

High negative correlations

REMVX	- 0.4	QMNIX
BXECX	- 0.32	QMNIX
PWEAX	- 0.2	QMNIX
QLERX	- 0.19	REMVX
BXECX	- 0.14	QLERX
QMNIX	- 0.12	POEIX

Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli Utilities 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 Utilities' 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
POEIX	0.80	0.02	(0.10)	(0.15)	1.00	(0.85)	1.54	(1.82)	5.70
QMNIX	0.26	0.09	(0.10)	(1.19)	0.13	(0.31)	0.70	(0.40)	1.91
REMVX	0.88	0.00	0.00	0.15	0.00	0.00	1.78	(2.04)	6.85
SPMIX	0.71	0.00	0.02	0.11	0.64	(0.74)	1.67	(1.19)	5.24
QLERX	0.31	0.10	(0.05)	(2.12)	0.11	(0.37)	0.75	(0.61)	2.22
BXECX	0.26	0.01	(0.35)	(0.06)	0.24	(0.38)	0.67	(0.40)	1.45
PIEFX	0.80	0.03	(0.10)	(0.08)	0.97	(0.93)	1.82	(1.45)	4.54
PWEAX	0.73	(0.02)	(0.10)	0.02	1.06	(0.70)	1.64	(1.76)	6.28

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