GAMCO Natural Correlations

GNT-PA Preferred Stock

USD 22.69 0.08 0.35%

The current 90-days correlation between GAMCO Natural Resources and The Gabelli Multimedia is 0.1 (i.e., Average diversification). The correlation of GAMCO Natural 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.

The ability to find closely correlated positions to GAMCO Natural could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GAMCO Natural 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 GAMCO Natural - 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 GAMCO Natural Resources to buy it.

Moving together with GAMCO Preferred Stock

0.81	OAK-PB	Oaktree Capital Group	Pair Corr
0.65	PBCRY	Bank Central Asia	Pair Corr
0.72	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.62	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.63	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Moving against GAMCO Preferred Stock

0.33	INPAP	International Paper	Pair Corr
0.61	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.49	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.36	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.31	WMT	Walmart Aggressive Push	Pair Corr

Related Correlations Analysis

	GGT-PE	GAB-PH	NCV-PA	JHS	CXE	CXH	MHD	BGX	FCT	EVF
GGT-PE		0.91	0.83	0.32	0.61	0.53	0.57	0.02	-0.03	-0.09	GGT-PE
GAB-PH	0.91		0.87	0.27	0.6	0.53	0.61	0.17	-0.05	-0.16	GAB-PH
NCV-PA	0.83	0.87		0.54	0.74	0.41	0.72	0.03	-0.4	-0.5	NCV-PA
JHS	0.32	0.27	0.54		0.66	0.24	0.64	-0.1	-0.44	-0.54	JHS
CXE	0.61	0.6	0.74	0.66		0.59	0.9	0.04	-0.42	-0.54	CXE
CXH	0.53	0.53	0.41	0.24	0.59		0.69	0.38	0.18	0.0	CXH
MHD	0.57	0.61	0.72	0.64	0.9	0.69		0.22	-0.33	-0.5	MHD
BGX	0.02	0.17	0.03	-0.1	0.04	0.38	0.22		0.21	0.15	BGX
FCT	-0.03	-0.05	-0.4	-0.44	-0.42	0.18	-0.33	0.21		0.87	FCT
EVF	-0.09	-0.16	-0.5	-0.54	-0.54	0.0	-0.5	0.15	0.87		EVF
	GGT-PE	GAB-PH	NCV-PA	JHS	CXE	CXH	MHD	BGX	FCT	EVF

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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

GAB-PH	+ 0.91	GGT-PE
MHD	+ 0.9	CXE
NCV-PA	+ 0.87	GAB-PH
EVF	+ 0.87	FCT
NCV-PA	+ 0.83	GGT-PE
CXE	+ 0.74	NCV-PA

High negative correlations

EVF	- 0.54	CXE
EVF	- 0.54	JHS
EVF	- 0.5	MHD
EVF	- 0.5	NCV-PA
FCT	- 0.44	JHS
FCT	- 0.42	CXE

Risk-Adjusted Indicators

There is a big difference between GAMCO Preferred Stock performing well and GAMCO Natural Company 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 GAMCO Natural'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-PE	0.47	0.04	(0.08)	0.50	0.61	(0.68)	1.44	(0.99)	5.53
GAB-PH	0.44	0.10	(0.06)	(2.37)	0.37	(0.48)	1.17	(0.93)	3.34
NCV-PA	0.45	0.03	(0.15)	(0.14)	0.66	(0.50)	1.08	(1.21)	3.97
JHS	0.30	(0.03)	(0.29)	(0.05)	0.42	(0.33)	0.78	(0.61)	3.04
CXE	0.52	0.03	(0.15)	0.71	0.52	(0.67)	1.53	(1.02)	3.34
CXH	0.34	0.05	(0.17)	(0.24)	0.40	(0.38)	0.86	(0.74)	2.10
MHD	0.51	0.05	(0.10)	(2.67)	0.73	(0.48)	1.12	(1.14)	3.11
BGX	0.48	0.03	(0.12)	0.37	0.65	(0.47)	0.87	(1.02)	2.99
FCT	0.38	0.03	(0.18)	0.52	0.38	(0.46)	0.88	(0.79)	2.75
EVF	0.31	0.04	(0.19)	0.86	0.28	(0.37)	0.66	(0.65)	2.24

Be your own money manager

Our tools can tell you how much better you can do entering a position in GAMCO Natural 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.

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