GDV vs WAB: Correlation
How closely do Gabelli Dividend & Income Trust (GDV) and Wabtec (WAB) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDV and WAB?
On 3 years of weekly data the GDV/WAB correlation comes out at 0.62, strong. The link has loosened recently: the 1-year correlation (0.41) runs below the 3-year figure (0.62). The 5-year figure is 0.68, and annualized covariance runs at 236.5 %².
Among the 71 assets we track against GDV, WAB ranks #41 by 3-year correlation. The last year tells two different stories: WAB led by 32.6 percentage points, +20.3% for GDV against +52.9% for WAB. One caveat on sizing: WAB 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.
GDV vs WAB: side by side
| GDV (Gabelli Dividend & Income Trust) | WAB (Wabtec) | |
|---|---|---|
| 1-year return | +20.3% | +52.9% |
| 5-year return | +53.8% | +241.0% |
| Volatility (ann.) | 15.0% | 25.3% |
| Beta vs S&P 500 | 0.90 | 0.99 |
| Max drawdown (3Y) | -16.1% | -23.6% |
| Market cap | $2.7B | $50.2B |
| P/E (trailing) | 6.3 | 40.5 |
| Dividend yield | 5.51% | 0.37% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | GDV | WAB |
|---|---|---|
| 2022 | -18.6% | +9.1% |
| 2023 | +11.9% | +28.0% |
| 2024 | +18.1% | +50.1% |
| 2025 | +22.8% | +13.2% |
| 2026 | +13.8% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDV and WAB good diversifiers for each other?
To a limited degree. At 0.62 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 GDV and WAB?
The GDV/WAB correlation stands at 0.62 on a 3-year window (1 year: 0.41, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is WAB a good diversifier for GDV?
To a limited degree. At 0.62 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 0.62 mean?
On the −1 to +1 scale, 0.62 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/gdv-vs-wab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gdv-vs-wab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GDV correlations · WAB correlations
