Gabelli Dividend Correlations

GDV Fund

USD 25.59 0.29 1.15%

The current 90-days correlation between Gabelli Dividend Income and Gabelli Equity Trust is 0.68 (i.e., Poor diversification). The correlation of Gabelli Dividend 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 Dividend Correlation With Market

Poor diversification

The correlation between Gabelli Dividend Income and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Dividend Income 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 Dividend Income. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Gabelli Fund

0.61	WRHIX	Ivy High Income	Pair Corr
0.61	WHIAX	Ivy High Income	Pair Corr
0.65	IHIFX	Ivy High Income	Pair Corr
0.66	IVHIX	Ivy High Income	Pair Corr
0.95	VFIAX	Vanguard 500 Index	Pair Corr
0.95	VFINX	Vanguard 500 Index	Pair Corr
0.86	BDJ	Blackrock Enhanced Equity	Pair Corr
0.96	CII	Blackrock Enhanced	Pair Corr
0.94	WWLAX	Westwood Largecap Value	Pair Corr
0.86	GAB	Gabelli Equity Trust	Pair Corr
0.83	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.94	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.77	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.89	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.83	BAC	Bank of America Aggressive Push	Pair Corr
0.86	HD	Home Depot	Pair Corr
0.77	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.85	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.71	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.78	HPQ	HP Inc	Pair Corr
0.82	WMT	Walmart Aggressive Push	Pair Corr
0.66	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Moving against Gabelli Fund

0.48	LIIAX	Columbia Porate Income	Pair Corr
0.46	SRINX	Columbia Porate Income	Pair Corr
0.45	CIFRX	Columbia Porate Income	Pair Corr
0.68	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.58	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	GGT	GAB	GRX	GCV	RFMZ	CXH	ETB	ACV	FUND
GGT		0.27	0.44	0.41	0.37	0.43	-0.14	0.12	-0.11	GGT
GAB	0.27		-0.54	0.33	-0.06	0.21	0.85	0.9	0.83	GAB
GRX	0.44	-0.54		-0.15	0.51	0.14	-0.79	-0.57	-0.65	GRX
GCV	0.41	0.33	-0.15		-0.24	0.15	0.12	0.29	-0.02	GCV
RFMZ	0.37	-0.06	0.51	-0.24		0.71	-0.11	0.07	-0.2	RFMZ
CXH	0.43	0.21	0.14	0.15	0.71		0.16	0.27	-0.03	CXH
ETB	-0.14	0.85	-0.79	0.12	-0.11	0.16		0.89	0.88	ETB
ACV	0.12	0.9	-0.57	0.29	0.07	0.27	0.89		0.81	ACV
FUND	-0.11	0.83	-0.65	-0.02	-0.2	-0.03	0.88	0.81		FUND
	GGT	GAB	GRX	GCV	RFMZ	CXH	ETB	ACV	FUND

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

ACV	+ 0.9	GAB
ACV	+ 0.89	ETB
FUND	+ 0.88	ETB
ETB	+ 0.85	GAB
FUND	+ 0.83	GAB
FUND	+ 0.81	ACV

High negative correlations

ETB	- 0.79	GRX
FUND	- 0.65	GRX
ACV	- 0.57	GRX
GRX	- 0.54	GAB
RFMZ	- 0.24	GCV
FUND	- 0.2	RFMZ

Risk-Adjusted Indicators

There is a big difference between Gabelli Fund performing well and Gabelli Dividend 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 Dividend'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
GGT	0.61	0.00	(0.10)	0.14	0.81	(0.63)	1.05	(1.22)	4.80
GAB	0.63	0.00	(0.02)	0.13	0.78	(0.67)	1.25	(1.29)	3.28
GRX	0.56	(0.11)	0.00	(0.34)	0.00	0.00	1.14	(1.47)	3.30
GCV	0.87	0.10	0.00	0.48	1.24	(0.90)	1.87	(1.80)	7.45
RFMZ	0.43	0.03	(0.16)	(0.49)	0.57	(0.45)	0.71	(0.99)	2.66
CXH	0.34	0.05	(0.17)	(0.24)	0.40	(0.38)	0.86	(0.74)	2.10
ETB	0.39	0.07	0.00	0.29	0.24	(0.43)	0.92	(0.91)	2.02
ACV	0.62	0.04	0.00	0.18	0.68	(0.68)	1.46	(1.22)	4.20
FUND	0.63	(0.04)	(0.06)	0.08	0.77	(0.67)	1.30	(1.26)	4.46

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC