DMA vs GDV: Correlation
Destra Multi-Alternative Fund (DMA) and Gabelli Dividend & Income Trust (GDV) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMA and GDV?
Over the past 3 years, DMA and GDV moved with a correlation of 0.46, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.29 versus 0.46 over 3 years. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 122.2 %².
GDV is one of the assets that tracks DMA most closely: it ranks #3 out of the 10 assets we track against DMA. Correlation aside, the last 12 months split them widely, with GDV ahead by 23.6 points (-3.3% versus +20.3%).
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.
DMA vs GDV: side by side
| DMA (Destra Multi-Alternative Fund) | GDV (Gabelli Dividend & Income Trust) | |
|---|---|---|
| 1-year return | -3.3% | +20.3% |
| 5-year return | +19.8% | +53.8% |
| Volatility (ann.) | 17.6% | 15.0% |
| Beta vs S&P 500 | 0.47 | 0.90 |
| Max drawdown (3Y) | -19.4% | -16.1% |
| Market cap | $0.1B | $2.7B |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 0.00% | 5.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DMA | GDV |
|---|---|---|
| 2022 | – | -18.6% |
| 2023 | -3.8% | +11.9% |
| 2024 | +41.1% | +18.1% |
| 2025 | +12.0% | +22.8% |
| 2026 | -6.3% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMA and GDV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DMA and GDV?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.29 over the last year and 0.36 over 5 years.
Is GDV a good diversifier for DMA?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dma-vs-gdv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dma-vs-gdv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DMA correlations · GDV correlations
