Gabelli Small Correlations

GACIX Fund

USD 48.18 1.13 2.40%

The current 90-days correlation between Gabelli Small and The Gabelli Small is 1.0 (i.e., No risk reduction). The correlation of Gabelli Small 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 Small Correlation With Market

Significant diversification

The correlation between The Gabelli Small and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Small 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 The Gabelli Small. 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 gross domestic product.

Moving together with Gabelli Mutual Fund

0.78	SRIGX	Gabelli Esg Fund	Pair Corr
0.88	GCFSX	Gabelli Global Financial	Pair Corr
0.73	GCIEX	Gabelli Equity	Pair Corr
0.78	EMACX	Enterprise Mergers And	Pair Corr
0.78	EMAAX	Enterprise Mergers And	Pair Corr
0.77	EMAYX	Enterprise Mergers And	Pair Corr
0.66	GVCAX	Gabelli Value	Pair Corr
0.65	GVCCX	Gabelli Value	Pair Corr
0.67	GVCIX	Gabelli Val	Pair Corr
0.89	GFSIX	Gabelli Global Financial	Pair Corr
0.88	GGFSX	Gabelli Global Financial	Pair Corr
0.82	WESCX	Teton Westwood Small	Pair Corr
0.81	WWSAX	Teton Westwood Small	Pair Corr
0.87	WWSIX	Teton Westwood Small	Pair Corr
0.68	EAAAX	Enterprise Mergers And	Pair Corr
0.63	DRCVX	Comstock Capital Value	Pair Corr

Related Correlations Analysis

	GABSX	FLCCX	CSVYX	ACFOX	BDFIX	BDFFX	CABDX	RLITX	LISIX	BIIEX
GABSX		0.59	-0.05	-0.13	-0.03	-0.03	0.55	0.12	0.11	0.43	GABSX
FLCCX	0.59		0.0	0.0	-0.03	-0.04	0.41	-0.06	-0.07	0.52	FLCCX
CSVYX	-0.05	0.0		0.37	0.59	0.59	0.05	0.43	0.43	0.26	CSVYX
ACFOX	-0.13	0.0	0.37		0.11	0.11	-0.13	0.36	0.36	0.37	ACFOX
BDFIX	-0.03	-0.03	0.59	0.11		1.0	0.36	0.74	0.74	0.24	BDFIX
BDFFX	-0.03	-0.04	0.59	0.11	1.0		0.36	0.74	0.74	0.23	BDFFX
CABDX	0.55	0.41	0.05	-0.13	0.36	0.36		0.49	0.49	0.5	CABDX
RLITX	0.12	-0.06	0.43	0.36	0.74	0.74	0.49		1.0	0.49	RLITX
LISIX	0.11	-0.07	0.43	0.36	0.74	0.74	0.49	1.0		0.48	LISIX
BIIEX	0.43	0.52	0.26	0.37	0.24	0.23	0.5	0.49	0.48		BIIEX
	GABSX	FLCCX	CSVYX	ACFOX	BDFIX	BDFFX	CABDX	RLITX	LISIX	BIIEX

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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

BDFFX	+ 1.0	BDFIX
LISIX	+ 1.0	RLITX
RLITX	+ 0.74	BDFIX
LISIX	+ 0.74	BDFIX
RLITX	+ 0.74	BDFFX
LISIX	+ 0.74	BDFFX

High negative correlations

CABDX	- 0.13	ACFOX
ACFOX	- 0.13	GABSX
LISIX	- 0.07	FLCCX
RLITX	- 0.06	FLCCX
CSVYX	- 0.05	GABSX
BDFFX	- 0.04	FLCCX

Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli Small 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 Small'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
GABSX	0.72	0.04	(0.02)	0.38	0.79	(0.79)	1.93	(1.40)	5.07
FLCCX	0.55	0.12	0.05	4.52	0.62	(0.64)	1.13	(1.32)	8.00
CSVYX	1.01	(0.10)	0.00	(0.01)	0.00	0.00	2.12	(1.84)	11.96
ACFOX	0.99	(0.09)	(0.04)	(0.01)	1.91	(0.82)	2.17	(2.65)	9.16
BDFIX	0.85	(0.05)	(0.03)	0.03	1.12	(0.80)	2.20	(1.71)	4.94
BDFFX	0.85	(0.05)	(0.03)	0.03	1.13	(0.80)	2.21	(1.71)	4.95
CABDX	0.47	0.03	(0.05)	(1.08)	0.52	(0.62)	1.08	(0.90)	3.49
RLITX	0.54	(0.02)	(0.05)	0.05	0.64	(0.57)	1.00	(1.06)	3.05
LISIX	0.53	(0.02)	(0.05)	0.05	0.64	(0.56)	1.00	(1.12)	2.99
BIIEX	0.57	(0.02)	(0.06)	0.04	0.76	(0.59)	1.12	(1.18)	2.97

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