GGT vs GGZ: Correlation
Gabelli Multi-Media Trust, Inc. (The) (GGT) and Gabelli Global Small and Mid Cap Value Trust (The) (GGZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGT and GGZ?
Across a 3-year window, the weekly returns of GGT and GGZ correlate at 0.44, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.30 versus 0.44 over 3 years. Stretching to 5 years gives 0.53, with an annualized covariance of 169.5 %².
Within GGT's tracked universe of 12 assets, GGZ comes in at #5 by 3-year correlation. Twelve-month performance is nearly a tie, at +19.6% for GGT and +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.
GGT vs GGZ: side by side
| GGT (Gabelli Multi-Media Trust, Inc. (The)) | GGZ (Gabelli Global Small and Mid Cap Value Trust (The)) | |
|---|---|---|
| 1-year return | +19.6% | +21.2% |
| 5-year return | -2.3% | +37.8% |
| Volatility (ann.) | 21.6% | 17.8% |
| Beta vs S&P 500 | 0.52 | 0.90 |
| Max drawdown (3Y) | -31.7% | -17.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 3.3 | 5.6 |
| Dividend yield | 21.31% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGT | GGZ |
|---|---|---|
| 2022 | -30.8% | -25.5% |
| 2023 | +22.5% | +10.7% |
| 2024 | -6.0% | +5.2% |
| 2025 | +15.4% | +34.9% |
| 2026 | +12.4% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGT and GGZ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GGT and GGZ?
The GGT/GGZ correlation stands at 0.44 on a 3-year window (1 year: 0.30, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is GGZ a good diversifier for GGT?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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: GGT correlations · GGZ correlations
