CRH vs GGZ: Correlation
Measured on weekly returns over the past three years, CRH plc (CRH) and Gabelli Global Small and Mid Cap Value Trust (The) (GGZ) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRH and GGZ?
Across a 3-year window, the weekly returns of CRH and GGZ correlate at 0.64, strong. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Stretching to 5 years gives 0.66, with an annualized covariance of 339.6 %².
Among the 40 assets we track against CRH, GGZ ranks #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GGZ outperformed by 35.8 percentage points (-14.6% for CRH against +21.2% for GGZ). One caveat on sizing: CRH is 1.7 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.
CRH vs GGZ: side by side
| CRH (CRH plc) | GGZ (Gabelli Global Small and Mid Cap Value Trust (The)) | |
|---|---|---|
| 1-year return | -14.6% | +21.2% |
| 5-year return | +104.1% | +37.8% |
| Volatility (ann.) | 29.7% | 17.8% |
| Beta vs S&P 500 | 1.26 | 0.90 |
| Max drawdown (3Y) | -28.4% | -17.8% |
| Market cap | $63.6B | – |
| P/E (trailing) | 17.2 | 5.6 |
| Dividend yield | 1.57% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | CRH | GGZ |
|---|---|---|
| 2022 | -20.5% | -25.5% |
| 2023 | +81.3% | +10.7% |
| 2024 | +35.9% | +5.2% |
| 2025 | +35.9% | +34.9% |
| 2026 | -22.6% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRH and GGZ good diversifiers for each other?
Only partially. A correlation of 0.64 means CRH 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 CRH and GGZ?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.59 over the last year and 0.66 over 5 years.
Is GGZ a good diversifier for CRH?
Only partially. A correlation of 0.64 means CRH 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 0.64 mean?
On the −1 to +1 scale, 0.64 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: CRH correlations · GGZ correlations
