GGN vs PULM: Correlation
Measured on weekly returns over the past three years, GAMCO Global Gold, Natural Resources & Income Trust (GGN) and Pulmatrix, Inc. (PULM) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGN and PULM?
Over the past 3 years, GGN and PULM moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -613.6 %².
PULM is close to the least connected end of GGN's tracked universe, ranking #15 of 17. The last year tells two different stories: GGN led by 97.3 percentage points, +28.6% for GGN against -68.7% for PULM. Note the risk asymmetry: PULM runs 7.8 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.
GGN vs PULM: side by side
| GGN (GAMCO Global Gold, Natural Resources & Income Trust) | PULM (Pulmatrix, Inc.) | |
|---|---|---|
| 1-year return | +28.6% | -68.7% |
| 5-year return | +128.2% | -90.6% |
| Volatility (ann.) | 18.5% | 144.8% |
| Beta vs S&P 500 | 0.36 | -0.18 |
| Max drawdown (3Y) | -16.9% | -88.1% |
| Market cap | – | – |
| P/E (trailing) | 2.8 | – |
| Dividend yield | 6.36% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGN | PULM |
|---|---|---|
| 2022 | +6.8% | -55.7% |
| 2023 | +14.1% | -52.1% |
| 2024 | +9.6% | +275.3% |
| 2025 | +48.2% | -68.1% |
| 2026 | +15.4% | -31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGN and PULM good diversifiers for each other?
Yes. With a correlation of -0.23, GGN and PULM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GGN and PULM?
As of 2026-08-27, the correlation of weekly returns between GGN and PULM is -0.23 over 3 years, -0.26 over 1 year and -0.13 over 5 years.
Is PULM a good diversifier for GGN?
Yes. With a correlation of -0.23, GGN and PULM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 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/ggn-vs-pulm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ggn-vs-pulm/)
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Related comparisons
Hubs: GGN correlations · PULM correlations
