GDV vs GGZ: Correlation
Measured on weekly returns over the past three years, Gabelli Dividend & Income Trust (GDV) and Gabelli Global Small and Mid Cap Value Trust (The) (GGZ) carry a correlation of 0.88, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDV and GGZ?
Across a 3-year window, the weekly returns of GDV and GGZ correlate at 0.88, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.83 lands near the 3-year figure. Stretching to 5 years gives 0.88, with an annualized covariance of 234.9 %².
Among the 71 assets we track against GDV, GGZ ranks #10 by 3-year correlation. Neither side won the trailing year by much: +20.3% against +21.2%.
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.
GDV vs GGZ: side by side
| GDV (Gabelli Dividend & Income Trust) | GGZ (Gabelli Global Small and Mid Cap Value Trust (The)) | |
|---|---|---|
| 1-year return | +20.3% | +21.2% |
| 5-year return | +53.8% | +37.8% |
| Volatility (ann.) | 15.0% | 17.8% |
| Beta vs S&P 500 | 0.90 | 0.90 |
| Max drawdown (3Y) | -16.1% | -17.8% |
| Market cap | $2.7B | – |
| P/E (trailing) | 6.3 | 5.6 |
| Dividend yield | 5.51% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GDV | GGZ |
|---|---|---|
| 2022 | -18.6% | -25.5% |
| 2023 | +11.9% | +10.7% |
| 2024 | +18.1% | +5.2% |
| 2025 | +22.8% | +34.9% |
| 2026 | +13.8% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDV and GGZ good diversifiers for each other?
No. With a correlation of 0.88, GDV and GGZ move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between GDV and GGZ?
As of 2026-08-27, the correlation of weekly returns between GDV and GGZ is 0.88 over 3 years, 0.83 over 1 year and 0.88 over 5 years.
Is GGZ a good diversifier for GDV?
No. With a correlation of 0.88, GDV and GGZ move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.88 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.
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Related comparisons
Hubs: GDV correlations · GGZ correlations
