GGB vs RVT: Correlation
Gerdau S.A. (GGB) and Royce Small-Cap Trust, Inc. (RVT) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGB and RVT?
Across a 3-year window, the weekly returns of GGB and RVT correlate at 0.52, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.52 over 3. Stretching to 5 years gives 0.45, with an annualized covariance of 347.1 %².
Within GGB's tracked universe of 13 assets, RVT comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GGB outperformed by 29.8 percentage points (+57.2% for GGB against +27.4% for RVT). Note the risk asymmetry: GGB runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GGB vs RVT: side by side
| GGB (Gerdau S.A.) | RVT (Royce Small-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +57.2% | +27.4% |
| 5-year return | +55.7% | +53.9% |
| Volatility (ann.) | 34.9% | 19.1% |
| Beta vs S&P 500 | 1.02 | 0.99 |
| Max drawdown (3Y) | -44.2% | -23.5% |
| Market cap | $9.2B | $2.3B |
| P/E (trailing) | 21.4 | 6.5 |
| Dividend yield | 17.71% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGB | RVT |
|---|---|---|
| 2022 | +28.4% | -26.3% |
| 2023 | -1.9% | +18.8% |
| 2024 | -25.9% | +17.9% |
| 2025 | +30.9% | +11.5% |
| 2026 | +30.4% | +21.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGB and RVT good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GGB and RVT?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.48 over the last year and 0.45 over 5 years.
Is RVT a good diversifier for GGB?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ggb-vs-rvt.json
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Related comparisons
Hubs: GGB correlations · RVT correlations
