Gabelli Utilities Correlations

GUXPX Fund

5.60 0.02 0.36%

The current 90-days correlation between Gabelli Utilities and Dominion Energy is -0.01 (i.e., Good 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

Good diversification

The correlation between Gabelli Utilities and DJI is -0.1 (i.e., Good 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

0.65	CMS-PC	CMS Energy Earnings Call This Week	Pair Corr
0.79	ENLT	Enlight Renewable Energy	Pair Corr
0.67	BIP	Brookfield Infrastructure	Pair Corr
0.75	CEG	Constellation Energy Corp	Pair Corr
0.72	DTW	DTE Energy	Pair Corr

Moving against Gabelli Mutual Fund

0.42	ED	Consolidated Edison	Pair Corr
0.42	FE	FirstEnergy	Pair Corr
0.66	AVA	Avista	Pair Corr
0.5	BKH	Black Hills	Pair Corr
0.45	CMS	CMS Energy Earnings Call This Week	Pair Corr
0.41	CNP	CenterPoint Energy	Pair Corr
0.4	WTRG	Essential Utilities	Pair Corr
0.35	AEE	Ameren Corp	Pair Corr
0.34	ATO	Atmos Energy	Pair Corr
0.72	CWT	California Water Service	Pair Corr
0.64	EXC	Exelon	Pair Corr
0.58	EDN	Empresa Distribuidora	Pair Corr
0.56	CPK	Chesapeake Utilities	Pair Corr

Related Correlations Analysis

	D	ED	ES	FE	HE	NI	SO	SR	VGAS	DUKB
D		-0.62	0.86	-0.42	0.66	0.44	0.5	0.03	0.31	-0.41	D
ED	-0.62		-0.77	0.78	-0.5	-0.17	0.0	0.54	-0.23	0.41	ED
ES	0.86	-0.77		-0.55	0.61	0.34	0.18	-0.35	0.15	-0.17	ES
FE	-0.42	0.78	-0.55		-0.25	-0.23	-0.18	0.31	-0.04	0.57	FE
HE	0.66	-0.5	0.61	-0.25		0.2	0.22	-0.13	0.23	-0.34	HE
NI	0.44	-0.17	0.34	-0.23	0.2		0.7	0.22	0.12	-0.25	NI
SO	0.5	0.0	0.18	-0.18	0.22	0.7		0.61	0.17	-0.52	SO
SR	0.03	0.54	-0.35	0.31	-0.13	0.22	0.61		0.1	-0.26	SR
VGAS	0.31	-0.23	0.15	-0.04	0.23	0.12	0.17	0.1		-0.27	VGAS
DUKB	-0.41	0.41	-0.17	0.57	-0.34	-0.25	-0.52	-0.26	-0.27		DUKB
	D	ED	ES	FE	HE	NI	SO	SR	VGAS	DUKB

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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

ES	+ 0.86	D
FE	+ 0.78	ED
SO	+ 0.7	NI
HE	+ 0.66	D
HE	+ 0.61	ES
SR	+ 0.61	SO

High negative correlations

ES	- 0.77	ED
ED	- 0.62	D
FE	- 0.55	ES
DUKB	- 0.52	SO
HE	- 0.5	ED
FE	- 0.42	D

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
D	0.94	0.14	0.06	0.49	0.81	(1.10)	2.00	(1.52)	5.75
ED	0.93	(0.13)	0.00	3.94	0.00	0.00	2.11	(2.25)	5.95
ES	0.98	0.20	0.10	0.56	0.94	(1.05)	2.94	(1.92)	7.61
FE	0.71	(0.03)	(0.14)	(0.01)	0.91	(0.74)	1.24	(1.54)	5.32
HE	1.41	(0.01)	(0.02)	0.12	2.04	(1.38)	2.65	(3.31)	8.39
NI	0.91	0.01	(0.05)	0.16	1.19	(0.92)	2.15	(1.95)	6.03
SO	0.80	0.03	(0.06)	0.26	1.05	(0.80)	1.53	(1.89)	4.80
SR	0.82	(0.03)	(0.11)	(0.05)	1.21	(0.76)	1.55	(2.11)	4.84
VGAS	2.92	(0.31)	0.00	(0.09)	0.00	0.00	6.67	(5.52)	16.85
DUKB	0.33	0.01	(0.29)	(0.16)	0.40	(0.35)	0.58	(0.70)	2.07

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