BOE vs GGT: Correlation
How closely do Blackrock Enhanced Global Dividend Trust (BOE) and Gabelli Multi-Media Trust, Inc. (The) (GGT) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOE and GGT?
On 3 years of weekly data the BOE/GGT correlation comes out at 0.44, moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.44 over 3. The 5-year figure is 0.49, and annualized covariance runs at 130.9 %².
Among the 27 assets we track against BOE, GGT ranks #22 by 3-year correlation. Twelve-month performance is nearly a tie, at +17.7% for BOE and +19.6% for GGT. Note the risk asymmetry: GGT runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BOE vs GGT: side by side
| BOE (Blackrock Enhanced Global Dividend Trust) | GGT (Gabelli Multi-Media Trust, Inc. (The)) | |
|---|---|---|
| 1-year return | +17.7% | +19.6% |
| 5-year return | +46.4% | -2.3% |
| Volatility (ann.) | 13.8% | 21.6% |
| Beta vs S&P 500 | 0.79 | 0.52 |
| Max drawdown (3Y) | -14.5% | -31.7% |
| Market cap | – | $0.2B |
| P/E (trailing) | 6.8 | 3.3 |
| Dividend yield | 7.95% | 21.31% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOE | GGT |
|---|---|---|
| 2022 | -15.5% | -30.8% |
| 2023 | +12.0% | +22.5% |
| 2024 | +16.8% | -6.0% |
| 2025 | +18.8% | +15.4% |
| 2026 | +12.2% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOE and GGT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BOE and GGT?
As of 2026-08-27, the correlation of weekly returns between BOE and GGT is 0.44 over 3 years, 0.45 over 1 year and 0.49 over 5 years.
Is GGT a good diversifier for BOE?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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
$ curl https://www.pairbook.io/api/v1/pairs/boe-vs-ggt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/boe-vs-ggt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BOE correlations · GGT correlations
