Gabelli Convertible Correlations

GCV Fund

USD 3.93 0.03 0.77%

The current 90-days correlation between Gabelli Convertible And and GAMCO Natural Resources is 0.01 (i.e., Significant diversification). The correlation of Gabelli Convertible 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 Convertible Correlation With Market

Modest diversification

The correlation between Gabelli Convertible And and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Convertible And 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 Convertible And. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Gabelli Fund

0.95	PFN	Pimco Income Strategy	Pair Corr
0.94	CIF	Mfs Intermediate High	Pair Corr
0.91	PCF	Putnam High Income	Pair Corr
0.98	LIRIX	Blackrock Lifepath Idx	Pair Corr
0.91	TGRYX	Tcw Global Real	Pair Corr
0.92	TPIIX	Timothy Plan Interna	Pair Corr
0.96	VAFNX	Invesco American Fra	Pair Corr
0.86	TSFIX	Touchstone Small Cap	Pair Corr
0.84	PFONX	Pimco International Bond	Pair Corr
0.69	SWCAX	Schwab California Tax	Pair Corr
0.95	CDIRX	Columbia Dividend Income	Pair Corr
0.95	FMVUX	Matson Money Equity	Pair Corr
0.96	LFTNX	Mfs Lifetime 2065	Pair Corr
0.93	RMORX	Victory Rs Mid	Pair Corr
0.98	RWIEX	Capital World Growth	Pair Corr
0.97	JAAYX	Jpmorgan Smartretirement	Pair Corr
0.78	RYCFX	Biotechnology Fund Class	Pair Corr
0.81	GAUAX	Gabelli Utilities	Pair Corr
0.96	LMPIX	Clearbridge Appreciation	Pair Corr
0.96	DSMLX	Touchstone Large Pany	Pair Corr
0.97	JAFJX	John Hancock Variable	Pair Corr
0.96	QSMNX	Aqr Small Cap	Pair Corr
0.97	JIAGX	Income Allocation	Pair Corr
0.89	NSCFX	Nuveen Nwq Small	Pair Corr
0.97	MXCPX	Great-west Conservative	Pair Corr
0.82	BCIAX	California Intermediate-ter	Pair Corr
0.74	WCPNX	Core Plus Income	Pair Corr
0.98	RBFTX	American Funds 2035	Pair Corr
0.97	JFBUX	Jpmorgan Investor Growth	Pair Corr
0.97	JBTBX	Jpmorgan Smartretirement*	Pair Corr
0.97	GMWZX	Mydestination 2025	Pair Corr
0.94	BGSIX	Blackrock Science	Pair Corr
0.89	LIFQX	Lord Abbett Inflation	Pair Corr
0.97	RNCOX	Rivernorth E Opportunity	Pair Corr

Moving against Gabelli Fund

0.67	XNBHX	Neuberger Berman Int	Pair Corr
0.62	XDSMX	Dreyfus Strategic	Pair Corr
0.32	XNXJX	Nuveen New Jersey	Pair Corr

Related Correlations Analysis

	GNT	GRX	GGZ	JHS	GGT	GUT	ECF	BCV
GNT		-0.37	0.77	0.38	-0.22	0.84	0.83	0.81	GNT
GRX	-0.37		-0.22	0.11	0.09	-0.34	-0.3	-0.28	GRX
GGZ	0.77	-0.22		0.68	-0.15	0.83	0.97	0.96	GGZ
JHS	0.38	0.11	0.68		0.22	0.59	0.66	0.7	JHS
GGT	-0.22	0.09	-0.15	0.22		0.19	-0.1	-0.05	GGT
GUT	0.84	-0.34	0.83	0.59	0.19		0.9	0.92	GUT
ECF	0.83	-0.3	0.97	0.66	-0.1	0.9		0.99	ECF
BCV	0.81	-0.28	0.96	0.7	-0.05	0.92	0.99		BCV
	GNT	GRX	GGZ	JHS	GGT	GUT	ECF	BCV

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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

BCV	+ 0.99	ECF
ECF	+ 0.97	GGZ
BCV	+ 0.96	GGZ
BCV	+ 0.92	GUT
ECF	+ 0.9	GUT
GUT	+ 0.84	GNT

High negative correlations

GRX	- 0.37	GNT
GUT	- 0.34	GRX
ECF	- 0.3	GRX
BCV	- 0.28	GRX
GGZ	- 0.22	GRX
GGT	- 0.22	GNT

Risk-Adjusted Indicators

There is a big difference between Gabelli Fund performing well and Gabelli Convertible 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 Convertible'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
GNT	0.81	0.11	(0.07)	0.98	0.85	(0.96)	1.73	(1.66)	5.60
GRX	0.76	(0.15)	(0.19)	0.00	0.99	(0.80)	1.61	(1.60)	5.01
GGZ	0.67	0.14	0.07	0.40	0.65	(0.77)	1.78	(1.25)	3.87
JHS	0.38	0.07	(0.28)	(0.76)	0.41	(0.42)	0.82	(0.74)	2.74
GGT	0.71	(0.10)	(0.16)	0.03	0.94	(0.86)	1.53	(1.54)	8.25
GUT	0.61	0.23	0.11	1.03	0.16	(0.83)	1.53	(0.88)	3.46
ECF	0.62	0.21	0.11	0.75	0.32	(0.78)	1.62	(1.01)	3.98
BCV	0.63	0.22	0.14	0.70	0.17	(0.77)	1.58	(1.10)	4.59

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