ALB vs GGZ: Correlation
Measured on weekly returns over the past three years, Albemarle Corporation (ALB) and Gabelli Global Small and Mid Cap Value Trust (The) (GGZ) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALB and GGZ?
On 3 years of weekly data the ALB/GGZ correlation comes out at 0.50, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.50 over 3. The 5-year figure is 0.52, and annualized covariance runs at 479.4 %².
By 3-year correlation, GGZ places #13 of the 36 assets tracked against ALB. The last year tells two different stories: ALB led by 35.7 percentage points, +56.9% for ALB against +21.2% for GGZ. One caveat on sizing: ALB is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ALB vs GGZ: side by side
| ALB (Albemarle Corporation) | GGZ (Gabelli Global Small and Mid Cap Value Trust (The)) | |
|---|---|---|
| 1-year return | +56.9% | +21.2% |
| 5-year return | -39.2% | +37.8% |
| Volatility (ann.) | 54.3% | 17.8% |
| Beta vs S&P 500 | 1.62 | 0.90 |
| Max drawdown (3Y) | -74.1% | -17.8% |
| Market cap | $16.0B | – |
| P/E (trailing) | 502.9 | 5.6 |
| Dividend yield | 1.20% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | ALB | GGZ |
|---|---|---|
| 2022 | -6.6% | -25.5% |
| 2023 | -32.8% | +10.7% |
| 2024 | -39.5% | +5.2% |
| 2025 | +67.7% | +34.9% |
| 2026 | -3.5% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALB and GGZ good diversifiers for each other?
Only partially. A correlation of 0.50 means ALB and GGZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ALB and GGZ?
As of 2026-08-27, the correlation of weekly returns between ALB and GGZ is 0.50 over 3 years, 0.49 over 1 year and 0.52 over 5 years.
Is GGZ a good diversifier for ALB?
Only partially. A correlation of 0.50 means ALB and GGZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: ALB correlations · GGZ correlations
