Gabelli Global Correlations

GCFSX Fund

USD 20.18 0.12 0.60%

The current 90-days correlation between Gabelli Global Financial and Mesirow Financial Small is 0.75 (i.e., Poor 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

Average diversification

The correlation between Gabelli Global Financial 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 Gabelli Global Financial 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 Financial. 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

0.69	SRIGX	Gabelli Esg Fund	Pair Corr
0.65	GCIEX	Gabelli Equity	Pair Corr
0.67	EMACX	Enterprise Mergers And	Pair Corr
0.72	EMAAX	Enterprise Mergers And	Pair Corr
0.66	EMAYX	Enterprise Mergers And	Pair Corr
0.92	GFSIX	Gabelli Global Financial	Pair Corr
1.0	GGFSX	Gabelli Global Financial	Pair Corr
0.64	WESCX	Teton Westwood Small	Pair Corr
0.72	WWSAX	Teton Westwood Small	Pair Corr
0.64	WWSIX	Teton Westwood Small	Pair Corr
0.62	EAAAX	Enterprise Mergers And	Pair Corr

Related Correlations Analysis

	GCFSX	MSVIX	ICFAX	MCBXX	FIDAX	FIDCX	SBFAX	PGFMX	VFAIX
GCFSX		0.49	0.64	0.0	0.68	0.66	0.23	0.2	0.41	GCFSX
MSVIX	0.49		0.61	0.0	0.69	0.68	0.58	0.2	0.68	MSVIX
ICFAX	0.64	0.61		0.0	0.51	0.49	0.34	0.24	0.5	ICFAX
MCBXX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MCBXX
FIDAX	0.68	0.69	0.51	0.0		1.0	0.79	-0.28	0.81	FIDAX
FIDCX	0.66	0.68	0.49	0.0	1.0		0.8	-0.3	0.81	FIDCX
SBFAX	0.23	0.58	0.34	0.0	0.79	0.8		-0.55	0.9	SBFAX
PGFMX	0.2	0.2	0.24	0.0	-0.28	-0.3	-0.55		-0.23	PGFMX
VFAIX	0.41	0.68	0.5	0.0	0.81	0.81	0.9	-0.23		VFAIX
	GCFSX	MSVIX	ICFAX	MCBXX	FIDAX	FIDCX	SBFAX	PGFMX	VFAIX

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

FIDCX	+ 1.0	FIDAX
VFAIX	+ 0.9	SBFAX
VFAIX	+ 0.81	FIDAX
VFAIX	+ 0.81	FIDCX
SBFAX	+ 0.8	FIDCX
SBFAX	+ 0.79	FIDAX

High negative correlations

PGFMX	- 0.55	SBFAX
PGFMX	- 0.3	FIDCX
PGFMX	- 0.28	FIDAX
VFAIX	- 0.23	PGFMX
VFAIX	- 0.0	MCBXX
PGFMX	- 0.0	MCBXX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GCFSX	0.54	0.06	0.00	0.58	0.61	(0.60)	1.15	(1.04)	3.52
MSVIX	0.87	0.03	(0.03)	0.28	1.02	(0.98)	1.72	(1.56)	5.04
ICFAX	0.89	0.07	0.10	0.13	0.60	(1.32)	1.58	(1.25)	13.99
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIDAX	0.72	0.01	(0.04)	0.17	1.06	(0.77)	1.36	(1.54)	5.59
FIDCX	0.72	0.01	(0.05)	0.13	1.06	(0.76)	1.38	(1.55)	5.52
SBFAX	0.65	(0.13)	0.00	(0.08)	0.00	0.00	1.36	(1.77)	4.82
PGFMX	0.29	0.04	(0.05)	0.46	0.26	(0.34)	0.63	(0.62)	1.60
VFAIX	0.67	(0.08)	0.00	(0.01)	0.00	0.00	1.31	(1.73)	4.59

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