Gabelli Healthcare Correlations

XXGRX Fund

USD 11.98 0.04 0.34%

The current 90-days correlation between The Gabelli Healthcare and Vanguard Total Stock is 0.57 (i.e., Very weak diversification). The correlation of Gabelli Healthcare 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 Healthcare Correlation With Market

Poor diversification

The correlation between The Gabelli Healthcare and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gabelli Healthcare and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in The Gabelli Healthcare. 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 metropolitan statistical area.

Moving together with Gabelli Mutual Fund

0.74	XNXJX	Nuveen New Jersey	Pair Corr
0.68	NXJ	Nuveen New Jersey	Pair Corr
0.71	XNBHX	Neuberger Berman Int	Pair Corr

Moving against Gabelli Mutual Fund

0.84	XPPRX	Voya Prime Rate	Pair Corr
0.8	ILESX	Fisher Investments	Pair Corr
0.77	VTSAX	Vanguard Total Stock	Pair Corr
0.77	VTSMX	Vanguard Total Stock	Pair Corr
0.77	VITSX	Vanguard Total Stock	Pair Corr
0.77	VSTSX	Vanguard Total Stock	Pair Corr
0.77	VSMPX	Vanguard Total Stock	Pair Corr
0.76	VFIAX	Vanguard 500 Index	Pair Corr
0.76	VFINX	Vanguard 500 Index	Pair Corr
0.76	VFFSX	Vanguard 500 Index	Pair Corr
0.76	VIIIX	Vanguard Institutional	Pair Corr
0.75	XNKGX	Nuveen Georgia Quality	Pair Corr
0.72	PCF	Putnam High Income	Pair Corr
0.72	VSEQX	Vanguard Strategic Equity	Pair Corr
0.68	AMGIX	Income Growth	Pair Corr
0.57	PFN	Pimco Income Strategy	Pair Corr
0.34	PGAIX	Pimco Global Multi	Pair Corr
0.83	SAGAX	Ridgeworth Innovative	Pair Corr
0.82	AMGOX	Alger Mid Cap	Pair Corr
0.78	AMEIX	Equity Growth	Pair Corr
0.78	TLCYX	Touchstone Large Cap	Pair Corr
0.77	ARIDX	Amg River Road	Pair Corr
0.77	VFTAX	Vanguard Ftse Social	Pair Corr
0.76	MLMAX	Global E Portfolio	Pair Corr
0.76	CFCRX	Columbia Flexible Capital	Pair Corr
0.7	DFMAX	Davidson Multi Cap	Pair Corr
0.66	FSEIX	Nuveen Mid Cap	Pair Corr
0.66	VWELX	Vanguard Wellington	Pair Corr
0.64	VEXRX	Vanguard Explorer	Pair Corr
0.63	WWLAX	Westwood Largecap Value	Pair Corr
0.56	VTWAX	Vanguard Total World	Pair Corr
0.55	GAB	Gabelli Equity Trust	Pair Corr
0.54	GAPIX	Goldman Sachs Equity	Pair Corr

Related Correlations Analysis

	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX
VTSAX		1.0	1.0	1.0	1.0	1.0	1.0	1.0	-0.24	-0.24	VTSAX
VFIAX	1.0		1.0	1.0	1.0	1.0	1.0	1.0	-0.2	-0.19	VFIAX
VTSMX	1.0	1.0		1.0	1.0	1.0	1.0	1.0	-0.24	-0.24	VTSMX
VITSX	1.0	1.0	1.0		1.0	1.0	1.0	1.0	-0.24	-0.24	VITSX
VSTSX	1.0	1.0	1.0	1.0		1.0	1.0	1.0	-0.24	-0.24	VSTSX
VSMPX	1.0	1.0	1.0	1.0	1.0		1.0	1.0	-0.24	-0.24	VSMPX
VFINX	1.0	1.0	1.0	1.0	1.0	1.0		1.0	-0.2	-0.19	VFINX
VFFSX	1.0	1.0	1.0	1.0	1.0	1.0	1.0		-0.2	-0.19	VFFSX
VGTSX	-0.24	-0.2	-0.24	-0.24	-0.24	-0.24	-0.2	-0.2		1.0	VGTSX
VTIAX	-0.24	-0.19	-0.24	-0.24	-0.24	-0.24	-0.19	-0.19	1.0		VTIAX
	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX

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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

VFIAX	+ 1.0	VTSAX
VTSMX	+ 1.0	VTSAX
VITSX	+ 1.0	VTSAX
VSTSX	+ 1.0	VTSAX
VSMPX	+ 1.0	VTSAX
VFINX	+ 1.0	VTSAX

High negative correlations

VTIAX	- 0.24	VSMPX
VGTSX	- 0.24	VSMPX
VTIAX	- 0.24	VSTSX
VGTSX	- 0.24	VSTSX
VTIAX	- 0.24	VITSX
VGTSX	- 0.24	VITSX

Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli Healthcare 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 Healthcare'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
VTSAX	0.57	0.01	(0.01)	0.12	0.66	(0.61)	1.10	(1.31)	4.11
VFIAX	0.55	0.00	(0.02)	0.11	0.66	(0.56)	1.17	(1.31)	3.84
VTSMX	0.57	0.01	(0.01)	0.12	0.66	(0.61)	1.10	(1.31)	4.11
VITSX	0.57	0.01	(0.01)	0.12	0.66	(0.61)	1.10	(1.31)	4.11
VSTSX	0.57	0.01	(0.01)	0.12	0.66	(0.61)	1.10	(1.31)	4.11
VSMPX	0.57	0.01	(0.01)	0.12	0.66	(0.61)	1.10	(1.30)	4.11
VFINX	0.55	0.00	(0.02)	0.11	0.66	(0.57)	1.17	(1.31)	3.84
VFFSX	0.55	0.00	(0.02)	0.11	0.65	(0.56)	1.17	(1.31)	3.84
VGTSX	0.62	(0.11)	0.00	(0.13)	0.00	0.00	1.15	(1.56)	4.09
VTIAX	0.61	(0.11)	0.00	(0.13)	0.00	0.00	1.15	(1.59)	4.11

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