Gabelli Equity Correlations
| GAB Fund | USD 5.13 0.03 0.58% |
The correlation of Gabelli Equity is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Gabelli Equity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gabelli Equity Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gabelli Equity Trust. Also, note that the market value of any Fund could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Gabelli |
The ability to find closely correlated positions to Gabelli Equity could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gabelli Equity when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Gabelli Equity - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Gabelli Equity Trust to buy it.
Moving together with Gabelli Fund
| + | 0.72 | CSJZX | Cohen Steers Realty | PairCorr | ||
| + | 0.77 | CSRSX | COHEN STEERS REALTY | PairCorr | ||
| + | 0.77 | CSJIX | Cohen Steers Realty | PairCorr | ||
| + | 0.77 | MSFT | Microsoft | Report 24th of October 2023 | PairCorr | |
| + | 0.84 | AA | Alcoa Corp | Report 18th of October 2023 | PairCorr |
Moving against Gabelli Fund
| - | 0.77 | CAT | Caterpillar | Report 26th of October 2023 | PairCorr | |
| - | 0.75 | CSCO | Cisco Systems | Fiscal Quarter End 31st of October 2023 | PairCorr | |
| - | 0.71 | CVX | Chevron Corp | Report 27th of October 2023 | PairCorr | |
| - | 0.65 | WMT | Walmart | Fiscal Quarter End 31st of October 2023 | PairCorr | |
| - | 0.45 | GE | General Electric | Report 24th of October 2023 | PairCorr | |
| - | 0.43 | DD | Dupont De Nemours | Report 14th of November 2023 | PairCorr |
Related Correlations Analysis
MRK | FSMFX | MSTSX | WQTEF | KNG | JRBEX | ||
MRK | 0.2 | -0.38 | 0.0 | -0.1 | -0.18 | MRK | |
FSMFX | 0.2 | 0.62 | 0.0 | 0.75 | 0.78 | FSMFX | |
MSTSX | -0.38 | 0.62 | 0.0 | 0.87 | 0.95 | MSTSX | |
WQTEF | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | WQTEF | |
KNG | -0.1 | 0.75 | 0.87 | 0.0 | 0.9 | KNG | |
JRBEX | -0.18 | 0.78 | 0.95 | 0.0 | 0.9 | JRBEX | |
MRK | FSMFX | MSTSX | WQTEF | KNG | JRBEX |
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 | High negative correlations |
Risk-Adjusted Indicators
There is a big difference between Gabelli Fund performing well and Gabelli Equity 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 Equity'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 | Information Ratio | Expected Shortfall | Potential Upside | Value At@Risk | Maximum Drawdown | |
|---|---|---|---|---|---|---|---|---|---|---|
| MRK | 0.93 | (0.10) | 0.00 | (0.17) | 0.00 | (0.08) | 0.00 | 1.76 | (1.74) | 5.93 |
| FSMFX | 0.36 | (0.06) | 0.00 | (0.23) | 0.00 | (0.11) | 0.00 | 0.66 | (0.78) | 1.86 |
| MSTSX | 0.52 | (0.03) | 0.00 | (0.25) | 0.00 | (0.0118) | 0.00 | 1.18 | (1.30) | 2.75 |
| WQTEF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| KNG | 0.42 | (0.04) | 0.00 | (0.08) | 0.00 | (0.07) | 0.00 | 0.82 | (1.04) | 2.41 |
| JRBEX | 0.39 | (0.04) | 0.00 | (0.30) | 0.00 | (0.0435) | 0.00 | 0.84 | (0.87) | 2.28 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Gabelli Equity without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Already Invested in Gabelli Equity Trust?
The danger of trading Gabelli Equity Trust is mainly related to its market volatility and Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Gabelli Equity is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Gabelli Equity. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Gabelli Equity Trust is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gabelli Equity Trust. Also, note that the market value of any Fund could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Note that the Gabelli Equity Trust information on this page should be used as a complementary analysis to other Gabelli Equity's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Complementary Tools for Gabelli Fund analysis
When running Gabelli Equity's price analysis, check to measure Gabelli Equity's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Gabelli Equity is operating at the current time. Most of Gabelli Equity's value examination focuses on studying past and present price action to predict the probability of Gabelli Equity's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Gabelli Equity's price. Additionally, you may evaluate how the addition of Gabelli Equity to your portfolios can decrease your overall portfolio volatility.
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