GAB vs GGZ: Correlation
Measured on weekly returns over the past three years, Gabelli Equity Trust, Inc. (The) (GAB) and Gabelli Global Small and Mid Cap Value Trust (The) (GGZ) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GAB and GGZ?
Over the past 3 years, GAB and GGZ moved with a correlation of 0.75, which is strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 215.5 %².
GGZ is one of the assets that tracks GAB most closely: it ranks #2 out of the 16 assets we track against GAB. Their recent paths diverged sharply: over the last 12 months GGZ outperformed by 15.4 percentage points (+5.8% for GAB against +21.2% for GGZ).
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.
GAB vs GGZ: side by side
| GAB (Gabelli Equity Trust, Inc. (The)) | GGZ (Gabelli Global Small and Mid Cap Value Trust (The)) | |
|---|---|---|
| 1-year return | +5.8% | +21.2% |
| 5-year return | +40.3% | +37.8% |
| Volatility (ann.) | 16.2% | 17.8% |
| Beta vs S&P 500 | 0.72 | 0.90 |
| Max drawdown (3Y) | -14.8% | -17.8% |
| Market cap | – | – |
| P/E (trailing) | 5.8 | 5.6 |
| Dividend yield | 10.54% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GAB | GGZ |
|---|---|---|
| 2022 | -16.3% | -25.5% |
| 2023 | +3.4% | +10.7% |
| 2024 | +18.0% | +5.2% |
| 2025 | +27.0% | +34.9% |
| 2026 | -1.4% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GAB and GGZ good diversifiers for each other?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GAB and GGZ?
As of 2026-08-27, the correlation of weekly returns between GAB and GGZ is 0.75 over 3 years, 0.66 over 1 year and 0.72 over 5 years.
Is GGZ a good diversifier for GAB?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.75 mean?
On the −1 to +1 scale, 0.75 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gab-vs-ggz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gab-vs-ggz/)
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Related comparisons
Hubs: GAB correlations · GGZ correlations
